AST SpaceMobile, Inc. (NASDAQ:ASTS) Shares Bought by Wealthfront Advisers LLC

Wealthfront Advisers LLC increased its position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 20.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 39,737 shares of the company's stock after buying an additional 6,753 shares during the quarter. Wealthfront Advisers LLC's holdings in AST SpaceMobile were worth $904,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ASTS. Alphabet Inc. acquired a new stake in shares of AST SpaceMobile during the first quarter worth about $203,375,000. Wells Fargo & Company MN grew its holdings in shares of AST SpaceMobile by 25.2% during the fourth quarter. Wells Fargo & Company MN now owns 117,822 shares of the company's stock worth $2,486,000 after buying an additional 23,746 shares during the last quarter. Two Sigma Investments LP raised its stake in AST SpaceMobile by 117.5% during the 4th quarter. Two Sigma Investments LP now owns 51,874 shares of the company's stock valued at $1,095,000 after acquiring an additional 28,025 shares during the last quarter. Toronto Dominion Bank acquired a new position in shares of AST SpaceMobile in the fourth quarter valued at approximately $4,220,000. Finally, BNP Paribas Financial Markets acquired a new stake in shares of AST SpaceMobile during the fourth quarter worth $3,264,000. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Scotiabank reissued a "sector perform" rating and issued a $45.40 price objective on shares of AST SpaceMobile in a research note on Monday, June 23rd. Roth Capital started coverage on AST SpaceMobile in a research report on Thursday, April 10th. They issued a "buy" rating and a $42.00 target price on the stock. B. Riley restated a "buy" rating and set a $44.00 price target (up from $36.00) on shares of AST SpaceMobile in a research note on Monday, June 16th. Bank of America assumed coverage on AST SpaceMobile in a research note on Wednesday, June 25th. They issued a "neutral" rating and a $55.00 price objective on the stock. Finally, Oppenheimer started coverage on shares of AST SpaceMobile in a report on Monday, May 5th. They issued a "market perform" rating on the stock. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $45.34.

Insider Transactions at AST SpaceMobile

In other AST SpaceMobile news, COO Shanti B. Gupta sold 10,000 shares of the business's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $41.84, for a total value of $418,400.00. Following the sale, the chief operating officer directly owned 305,667 shares of the company's stock, valued at approximately $12,789,107.28. The trade was a 3.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Scott Wisniewski sold 50,000 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $35.65, for a total transaction of $1,782,500.00. Following the sale, the president directly owned 545,595 shares of the company's stock, valued at $19,450,461.75. This trade represents a 8.39% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 184,250 shares of company stock worth $6,146,750. 41.80% of the stock is currently owned by insiders.

AST SpaceMobile Price Performance

NASDAQ ASTS traded up $0.42 during trading on Tuesday, hitting $57.09. 13,656,345 shares of the company's stock were exchanged, compared to its average volume of 12,932,269. The company has a market cap of $18.07 billion, a PE ratio of -28.69 and a beta of 2.27. The company has a current ratio of 10.62, a quick ratio of 10.62 and a debt-to-equity ratio of 0.60. AST SpaceMobile, Inc. has a fifty-two week low of $12.37 and a fifty-two week high of $60.95. The stock's 50 day moving average price is $37.74 and its two-hundred day moving average price is $29.32.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.20) EPS for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.03). AST SpaceMobile had a negative net margin of 7,033.22% and a negative return on equity of 23.56%. The firm had revenue of $0.72 million during the quarter, compared to analyst estimates of $3.85 million. Research analysts expect that AST SpaceMobile, Inc. will post -0.4 EPS 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.