AST SpaceMobile, Inc. (NASDAQ:ASTS) Shares Bought by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers increased its investment in AST SpaceMobile by 27.1%, holding 110,161 shares valued at $2,505,000 as of the latest quarter.
• Recent insider transactions saw AST SpaceMobile's CTO and President sell a combined total of 54,250 shares for over $1.9 million, indicating a decrease in their ownership positions.
• Brokerages maintain a generally positive outlook on AST SpaceMobile, with a consensus rating of "Moderate Buy" and a price target averaging $45.34.

Cetera Investment Advisers boosted its stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 27.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 110,161 shares of the company's stock after buying an additional 23,478 shares during the period. Cetera Investment Advisers' holdings in AST SpaceMobile were worth $2,505,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ASTS. Sunbelt Securities Inc. boosted its stake in AST SpaceMobile by 61.9% during the first quarter. Sunbelt Securities Inc. now owns 1,321 shares of the company's stock worth $30,000 after buying an additional 505 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of AST SpaceMobile by 388.7% in the 1st quarter. GAMMA Investing LLC now owns 1,559 shares of the company's stock valued at $35,000 after purchasing an additional 1,240 shares during the last quarter. Financial Gravity Asset Management Inc. acquired a new position in shares of AST SpaceMobile in the 1st quarter valued at $41,000. Close Asset Management Ltd lifted its stake in shares of AST SpaceMobile by 72.4% in the 1st quarter. Close Asset Management Ltd now owns 1,810 shares of the company's stock valued at $41,000 after purchasing an additional 760 shares during the last quarter. Finally, Bernard Wealth Management Corp. acquired a new position in shares of AST SpaceMobile in the 4th quarter valued at $42,000. Institutional investors and hedge funds own 60.95% of the company's stock.

Insiders Place Their Bets

In other AST SpaceMobile news, CTO Huiwen Yao sold 4,250 shares of the company's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $34.60, for a total transaction of $147,050.00. Following the sale, the chief technology officer owned 20,750 shares in the company, valued at $717,950. This represents a 17.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Scott Wisniewski sold 50,000 shares of the company's stock in a transaction dated 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 sale, the president owned 545,595 shares in the company, valued at approximately $19,450,461.75. This trade represents a 8.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 184,250 shares of company stock worth $6,146,750 in the last quarter. 34.15% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently commented on ASTS. B. Riley reaffirmed a "buy" rating and issued a $44.00 price target (up previously from $36.00) on shares of AST SpaceMobile in a research note on Monday, June 16th. Roth Capital began coverage on AST SpaceMobile in a research note on Thursday, April 10th. They issued a "buy" rating and a $42.00 price target on the stock. Scotiabank reaffirmed a "sector perform" rating and issued a $45.40 price target on shares of AST SpaceMobile in a research note on Monday, June 23rd. Oppenheimer began coverage on AST SpaceMobile in a research note on Monday, May 5th. They issued a "market perform" rating on the stock. Finally, Bank of America assumed coverage on AST SpaceMobile in a research note on Wednesday, June 25th. They issued a "neutral" rating and a $55.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $45.34.

AST SpaceMobile Price Performance

ASTS stock opened at $51.79 on Thursday. The company has a current ratio of 10.62, a quick ratio of 10.62 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $16.39 billion, a PE ratio of -26.02 and a beta of 2.33. AST SpaceMobile, Inc. has a 12-month low of $17.50 and a 12-month high of $60.95. The business's fifty day moving average price is $45.37 and its 200 day moving average price is $32.13.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.03). The firm had revenue of $0.72 million during the quarter, compared to analysts' expectations of $3.85 million. AST SpaceMobile had a negative net margin of 7,033.22% and a negative return on equity of 23.56%. On average, sell-side analysts anticipate that AST SpaceMobile, Inc. will post -0.4 EPS for the current year.

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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