AST SpaceMobile, Inc. (NASDAQ:ASTS) Shares Acquired by ProShare Advisors LLC

ProShare Advisors LLC lifted its stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 49.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,728 shares of the company's stock after buying an additional 12,400 shares during the quarter. ProShare Advisors LLC's holdings in AST SpaceMobile were worth $796,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in ASTS. Summit Securities Group LLC acquired a new position in AST SpaceMobile during the 4th quarter worth $37,000. Golden State Wealth Management LLC bought a new position in shares of AST SpaceMobile during the fourth quarter worth about $46,000. CIBC Private Wealth Group LLC grew 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 worth $53,000 after purchasing an additional 1,222 shares in the last quarter. AlphaQuest LLC acquired a new position in AST SpaceMobile in the fourth quarter worth about $67,000. Finally, SRS Capital Advisors Inc. increased its holdings 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 buying an additional 2,950 shares during the last quarter. Institutional investors own 60.95% of the company's stock.

Insider Activity

In other news, Director Julio A. Torres sold 20,000 shares of the business's 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 owns 52,628 shares of the company's stock, valued at approximately $1,617,258.44. The trade was a 27.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CTO Huiwen Yao sold 55,000 shares of the business'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 disclosure for this sale can be found here. Corporate insiders own 34.15% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Cantor Fitzgerald reiterated an "overweight" rating and issued a $30.00 target price on shares of AST SpaceMobile in a research report on Tuesday, March 4th. Scotiabank reduced their price objective on AST SpaceMobile from $47.90 to $45.40 and set a "sector outperform" rating on the stock in a research note on Tuesday, May 13th. UBS Group lifted their price objective 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. Roth Capital began coverage on shares of AST SpaceMobile in a report on Thursday, April 10th. They set a "buy" rating and a $42.00 target price on the stock. Finally, Oppenheimer started coverage on shares of AST SpaceMobile in a research report on Monday, May 5th. They issued a "market perform" rating on the stock. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.40.

AST SpaceMobile Stock Performance

ASTS traded down $0.70 during trading on Thursday, reaching $24.08. 3,877,676 shares of the company were exchanged, compared to its average volume of 12,512,201. AST SpaceMobile, Inc. has a 52 week low of $5.68 and a 52 week high of $39.08. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31. The firm has a 50 day moving average of $24.06 and a 200 day moving average of $24.57. The stock has a market cap of $7.62 billion, a P/E ratio of -11.36 and a beta of 2.05.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last announced its quarterly 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 firm had revenue of $0.72 million for the quarter, compared to the consensus estimate of $3.85 million. On average, sell-side analysts forecast that AST SpaceMobile, Inc. will post -0.4 EPS for the current fiscal year.

AST SpaceMobile 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.