ProShare Advisors LLC Increases Stock Position in AST SpaceMobile, Inc. (NASDAQ:ASTS)

ProShare Advisors LLC increased its position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 49.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,728 shares of the company's stock after acquiring 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.

Several other institutional investors and hedge funds have also recently modified their holdings of ASTS. Summit Securities Group LLC purchased a new stake in AST SpaceMobile in the fourth quarter valued at $37,000. Golden State Wealth Management LLC acquired a new position in AST SpaceMobile in the fourth quarter valued at about $46,000. CIBC Private Wealth Group LLC lifted its position 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 buying an additional 1,222 shares during the last quarter. AlphaQuest LLC acquired a new position in AST SpaceMobile in the fourth quarter valued at about $67,000. Finally, SRS Capital Advisors Inc. lifted its position 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 and hedge funds own 60.95% of the company's stock.

AST SpaceMobile Stock Up 0.1%

NASDAQ ASTS traded up $0.03 during trading hours on Wednesday, hitting $24.87. 6,640,241 shares of the company were exchanged, compared to its average volume of 12,532,166. The company has a 50 day moving average of $24.08 and a two-hundred day moving average of $24.57. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31. AST SpaceMobile, Inc. has a 52-week low of $4.65 and a 52-week high of $39.08. The firm has a market cap of $7.87 billion, a price-to-earnings ratio of -11.73 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 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. Equities research analysts anticipate that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on ASTS. Roth Capital began coverage on shares of AST SpaceMobile in a research report on Thursday, April 10th. They issued a "buy" rating and a $42.00 target price on the stock. Oppenheimer began coverage on shares of AST SpaceMobile in a research report on Monday, May 5th. They issued a "market perform" rating on the stock. UBS Group upped their target price on shares of AST SpaceMobile from $31.00 to $38.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $30.00 target price on shares of AST SpaceMobile in a research report on Tuesday, March 4th. Finally, Scotiabank reduced their price target on shares of AST SpaceMobile from $47.90 to $45.40 and set a "sector outperform" rating on the stock in a research report on Tuesday, May 13th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, AST SpaceMobile presently has an average rating of "Moderate Buy" and an average price target of $42.40.

Insider Activity at AST SpaceMobile

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

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.