Dynamic Advisor Solutions LLC Purchases 31,414 Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS)

Dynamic Advisor Solutions LLC raised its position in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 36.8% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 116,847 shares of the company's stock after acquiring an additional 31,414 shares during the period. Dynamic Advisor Solutions LLC's holdings in AST SpaceMobile were worth $2,657,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Van ECK Associates Corp lifted its holdings in shares of AST SpaceMobile by 150.1% in the fourth quarter. Van ECK Associates Corp now owns 258,747 shares of the company's stock valued at $5,460,000 after purchasing an additional 155,310 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of AST SpaceMobile by 2.0% in the fourth quarter. Rhumbline Advisers now owns 216,718 shares of the company's stock valued at $4,573,000 after purchasing an additional 4,168 shares during the last quarter. Americana Partners LLC lifted its position in shares of AST SpaceMobile by 5.2% during the 4th quarter. Americana Partners LLC now owns 27,047 shares of the company's stock worth $571,000 after buying an additional 1,326 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its stake in shares of AST SpaceMobile by 36.8% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 80,305 shares of the company's stock worth $1,694,000 after buying an additional 21,585 shares during the last quarter. Finally, New York State Common Retirement Fund grew its holdings in shares of AST SpaceMobile by 17.1% in the fourth quarter. New York State Common Retirement Fund now owns 42,367 shares of the company's stock valued at $894,000 after acquiring an additional 6,200 shares in the last quarter. Institutional investors own 60.95% of the company's stock.

Insider Transactions at AST SpaceMobile

In other news, CTO Huiwen Yao sold 55,000 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $26.82, for a total transaction of $1,475,100.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Shanti B. Gupta sold 15,000 shares of the company's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $36.08, for a total transaction of $541,200.00. Following the completion of the transaction, the chief operating officer now owns 315,667 shares in the company, valued at approximately $11,389,265.36. This trade represents a 4.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 184,250 shares of company stock valued at $6,146,750. 34.15% of the stock is currently owned by corporate insiders.

AST SpaceMobile Stock Performance

AST SpaceMobile stock traded up $4.25 during midday trading on Thursday, reaching $44.35. The stock had a trading volume of 21,208,036 shares, compared to its average volume of 12,403,065. The firm has a market capitalization of $14.04 billion, a PE ratio of -22.29 and a beta of 2.02. AST SpaceMobile, Inc. has a 12 month low of $9.32 and a 12 month high of $44.71. The company has a quick ratio of 10.62, a current ratio of 10.62 and a debt-to-equity ratio of 0.60. The firm's 50-day moving average price is $26.90 and its 200 day moving average price is $25.44.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last posted 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 return on equity of 23.56% and a negative net margin of 7,033.22%. The business had revenue of $0.72 million during the quarter, compared to analysts' expectations of $3.85 million. As a group, research analysts predict that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ASTS. Cantor Fitzgerald reiterated an "overweight" rating and set a $30.00 price target on shares of AST SpaceMobile in a report on Tuesday, March 4th. Scotiabank lowered their target price 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. Oppenheimer initiated coverage on shares of AST SpaceMobile in a research report on Monday, May 5th. They set a "market perform" rating for the company. B. Riley reaffirmed a "buy" rating and issued a $44.00 price objective (up previously from $36.00) on shares of AST SpaceMobile in a research report on Monday. Finally, UBS Group increased 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. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, AST SpaceMobile presently has an average rating of "Moderate Buy" and a consensus target price of $43.73.

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.