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

Dynamic Advisor Solutions LLC raised its holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 36.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 116,847 shares of the company's stock after buying 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 Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Xponance Inc. boosted its holdings in AST SpaceMobile by 8.7% during the fourth quarter. Xponance Inc. now owns 9,676 shares of the company's stock worth $204,000 after purchasing an additional 772 shares during the last quarter. CIBC Private Wealth Group LLC boosted its stake in shares of AST SpaceMobile by 106.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company's stock worth $53,000 after buying an additional 1,222 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of AST SpaceMobile by 388.7% in the first quarter. GAMMA Investing LLC now owns 1,559 shares of the company's stock valued at $35,000 after acquiring an additional 1,240 shares in the last quarter. Americana Partners LLC grew its holdings in shares of AST SpaceMobile by 5.2% in the fourth quarter. Americana Partners LLC now owns 27,047 shares of the company's stock valued at $571,000 after acquiring an additional 1,326 shares in the last quarter. Finally, Axxcess Wealth Management LLC increased its position in shares of AST SpaceMobile by 16.7% during the fourth quarter. Axxcess Wealth Management LLC now owns 10,562 shares of the company's stock valued at $223,000 after acquiring an additional 1,508 shares during the last quarter. 60.95% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CTO Huiwen Yao sold 4,250 shares of the company's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $34.60, for a total transaction of $147,050.00. Following the completion of the transaction, the chief technology officer now directly owns 20,750 shares of the company's stock, valued at approximately $717,950. This represents a 17.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Scott Wisniewski sold 50,000 shares of the stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $35.65, for a total transaction of $1,782,500.00. Following the sale, the president now owns 545,595 shares of the company's stock, valued at approximately $19,450,461.75. This represents a 8.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 174,250 shares of company stock valued at $5,728,350. 34.15% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the company. UBS Group boosted their price objective on AST SpaceMobile from $31.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. Scotiabank reduced 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 research report on Tuesday, May 13th. B. Riley raised their price objective on shares of AST SpaceMobile from $36.00 to $44.00 and gave the stock a "buy" rating in a report on Monday. Oppenheimer initiated coverage on shares of AST SpaceMobile in a research note on Monday, May 5th. They issued a "market perform" rating on the stock. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $30.00 target price on shares of AST SpaceMobile in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $43.73.

AST SpaceMobile Stock Performance

NASDAQ:ASTS traded up $3.54 on Monday, reaching $41.91. 17,583,326 shares of the company's stock were exchanged, compared to its average volume of 12,421,000. AST SpaceMobile, Inc. has a 52 week low of $9.32 and a 52 week high of $42.88. The firm has a market cap of $13.26 billion, a price-to-earnings ratio of -19.77 and a beta of 2.02. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80. The stock has a fifty day simple moving average of $25.74 and a 200-day simple moving average of $25.08.

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 analysts' consensus estimates of ($0.17) by ($0.03). The firm had revenue of $0.72 million for the quarter, compared to analysts' expectations of $3.85 million. As a group, sell-side analysts predict that AST SpaceMobile, Inc. will post -0.4 earnings per share 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.