AST SpaceMobile, Inc. (NASDAQ:ASTS) Shares Acquired by FAS Wealth Partners Inc.

FAS Wealth Partners Inc. lifted its stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 88.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,160 shares of the company's stock after buying an additional 22,575 shares during the quarter. FAS Wealth Partners Inc.'s holdings in AST SpaceMobile were worth $1,095,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Sunbelt Securities Inc. boosted its holdings in AST SpaceMobile by 61.9% in the first quarter. Sunbelt Securities Inc. now owns 1,321 shares of the company's stock worth $30,000 after purchasing an additional 505 shares during the period. Xponance Inc. boosted its holdings in AST SpaceMobile by 5.9% in the first quarter. Xponance Inc. now owns 10,244 shares of the company's stock worth $233,000 after purchasing an additional 568 shares during the period. KBC Group NV boosted its holdings in AST SpaceMobile by 15.6% in the first quarter. KBC Group NV now owns 7,525 shares of the company's stock worth $171,000 after purchasing an additional 1,016 shares during the period. CIBC Private Wealth Group LLC boosted its holdings in AST SpaceMobile by 106.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company's stock worth $53,000 after purchasing an additional 1,222 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in AST SpaceMobile by 388.7% in the first quarter. GAMMA Investing LLC now owns 1,559 shares of the company's stock worth $35,000 after purchasing an additional 1,240 shares during the period. Institutional investors and hedge funds own 60.95% of the company's stock.

Insider Activity at AST SpaceMobile

In related news, President Scott Wisniewski sold 50,000 shares of the business's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $35.65, for a total value of $1,782,500.00. Following the completion of the sale, the president owned 545,595 shares of the company's stock, valued at approximately $19,450,461.75. The trade was a 8.39% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Shanti B. Gupta sold 10,000 shares of the business's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $41.84, for a total value of $418,400.00. Following the completion of the sale, the chief operating officer directly owned 305,667 shares of the company's stock, valued at approximately $12,789,107.28. The trade was a 3.17% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 184,250 shares of company stock valued at $6,146,750. 34.15% of the stock is owned by corporate insiders.

AST SpaceMobile Trading Up 0.9%

NASDAQ:ASTS opened at $57.98 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 10.62 and a quick ratio of 10.62. AST SpaceMobile, Inc. has a fifty-two week low of $12.37 and a fifty-two week high of $58.08. The stock's 50-day moving average is $37.74 and its two-hundred day moving average is $29.27. The stock has a market cap of $18.35 billion, a PE ratio of -29.14 and a beta of 2.27.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last released its earnings results on Monday, May 12th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.03). AST SpaceMobile had a negative net margin of 7,033.22% and a negative return on equity of 23.56%. The business had revenue of $0.72 million for the quarter, compared to analysts' expectations of $3.85 million. As a group, equities research analysts forecast that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

ASTS has been the topic of a number of recent research reports. Scotiabank reiterated a "sector perform" rating and issued a $45.40 target price on shares of AST SpaceMobile in a research note on Monday, June 23rd. B. Riley reaffirmed a "buy" rating and issued a $44.00 price target (up from $36.00) on shares of AST SpaceMobile in a research note on Monday, June 16th. Roth Capital began coverage on shares of AST SpaceMobile in a research note on Thursday, April 10th. They issued a "buy" rating and a $42.00 price target for the company. Oppenheimer initiated coverage on shares of AST SpaceMobile in a research note on Monday, May 5th. They issued a "market perform" rating for the company. Finally, Bank of America initiated coverage on AST SpaceMobile in a report on Wednesday, June 25th. They issued a "neutral" rating and a $55.00 price objective for the company. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $45.34.

AST SpaceMobile Company Profile

AST SpaceMobile, Inc, together with its subsidiaries, develops and provides access to a space-based cellular broadband network for smartphones in the United States. Its SpaceMobile service provides cellular broadband services to end-users who are out of terrestrial cellular coverage. The company was founded in 2017 and is headquartered in Midland, Texas.

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