ProShare Advisors LLC Grows Holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS)

ProShare Advisors LLC increased its holdings in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 49.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 37,728 shares of the company's stock after purchasing an additional 12,400 shares during the period. ProShare Advisors LLC's holdings in AST SpaceMobile were worth $796,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Summit Securities Group LLC bought a new position in shares of AST SpaceMobile during the fourth quarter valued at approximately $37,000. Golden State Wealth Management LLC acquired a new stake in AST SpaceMobile in the fourth quarter valued at approximately $46,000. CIBC Private Wealth Group LLC boosted its stake 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 valued at $53,000 after acquiring an additional 1,222 shares in the last quarter. AlphaQuest LLC acquired a new stake in AST SpaceMobile in the fourth quarter valued at approximately $67,000. Finally, SRS Capital Advisors Inc. boosted its stake in AST SpaceMobile by 554.5% in the fourth quarter. SRS Capital Advisors Inc. now owns 3,482 shares of the company's stock valued at $73,000 after acquiring an additional 2,950 shares in the last quarter. 60.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CTO Huiwen Yao sold 55,000 shares of the firm's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $26.82, for a total transaction of $1,475,100.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Julio A. Torres sold 20,000 shares of AST SpaceMobile stock in a transaction on Monday, March 10th. The shares were sold at an average price of $30.73, for a total transaction of $614,600.00. Following the completion of the transaction, the director now directly owns 52,628 shares of the company's stock, valued at $1,617,258.44. The trade was a 27.54% decrease in their position. The disclosure for this sale can be found here. 34.15% of the stock is currently owned by corporate insiders.

AST SpaceMobile Stock Performance

Shares of AST SpaceMobile stock traded up $0.75 during trading on Tuesday, hitting $24.84. 11,457,122 shares of the company's stock were exchanged, compared to its average volume of 12,555,130. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80. The business has a 50-day simple moving average of $24.08 and a 200-day simple moving average of $24.57. AST SpaceMobile, Inc. has a 52-week low of $4.65 and a 52-week high of $39.08. The stock has a market capitalization of $7.86 billion, a price-to-earnings ratio of -11.72 and a beta of 2.05.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last issued its earnings results 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 company had revenue of $0.72 million for the quarter, compared to analysts' expectations of $3.85 million. On average, research analysts forecast that AST SpaceMobile, Inc. will post -0.4 EPS for the current year.

Wall Street Analysts Forecast Growth

ASTS has been the subject of several recent analyst reports. 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. Roth Capital started coverage on shares of AST SpaceMobile in a research note on Thursday, April 10th. They issued a "buy" rating and a $42.00 target price for the company. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $30.00 price target on shares of AST SpaceMobile in a report on Tuesday, March 4th. Scotiabank decreased their price target on shares of AST SpaceMobile from $47.90 to $45.40 and set a "sector outperform" rating for the company in a report on Tuesday, May 13th. Finally, UBS Group raised their price target on shares of AST SpaceMobile from $31.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $42.40.

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.