Blair William & Co. IL Buys Shares of 10,427 AST SpaceMobile, Inc. (NASDAQ:ASTS)

Blair William & Co. IL bought a new stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 10,427 shares of the company's stock, valued at approximately $237,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Scotia Capital Inc. raised its stake in AST SpaceMobile by 57.4% during the 1st quarter. Scotia Capital Inc. now owns 109,897 shares of the company's stock valued at $2,499,000 after buying an additional 40,098 shares during the last quarter. Bank of Nova Scotia purchased a new stake in shares of AST SpaceMobile in the 1st quarter worth $5,461,000. Ameraudi Asset Management Inc. purchased a new stake in shares of AST SpaceMobile in the 1st quarter worth $230,000. First Heartland Consultants Inc. increased its stake in shares of AST SpaceMobile by 17.2% in the 1st quarter. First Heartland Consultants Inc. now owns 16,989 shares of the company's stock worth $386,000 after purchasing an additional 2,490 shares in the last quarter. Finally, IvyRock Asset Management HK Ltd purchased a new stake in shares of AST SpaceMobile in the 1st quarter worth $211,000. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at AST SpaceMobile

In other AST SpaceMobile news, CTO Huiwen Yao sold 55,000 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $26.82, for a total transaction of $1,475,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Shanti B. Gupta sold 15,000 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $36.08, for a total transaction of $541,200.00. Following the transaction, the chief operating officer directly owned 315,667 shares of the company's stock, valued at $11,389,265.36. This trade represents a 4.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold 184,250 shares of company stock valued at $6,146,750 in the last 90 days. Insiders own 41.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ASTS shares. Oppenheimer started coverage on AST SpaceMobile in a research note on Monday, May 5th. They issued a "market perform" rating for the company. Roth Capital restated a "buy" rating on shares of AST SpaceMobile in a research note on Tuesday. Bank of America started coverage on AST SpaceMobile in a research note on Wednesday, June 25th. They issued a "neutral" rating and a $55.00 price objective for the company. Scotiabank reduced their price objective on AST SpaceMobile from $45.40 to $42.90 and set a "sector perform" rating for the company in a research note on Thursday, August 7th. Finally, B. Riley restated a "buy" rating and issued a $44.00 price objective (up from $36.00) on shares of AST SpaceMobile in a research note on Monday, June 16th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, AST SpaceMobile currently has a consensus rating of "Moderate Buy" and an average target price of $44.99.

AST SpaceMobile Trading Up 8.4%

Shares of AST SpaceMobile stock opened at $49.76 on Wednesday. The company has a market capitalization of $15.75 billion, a P/E ratio of -26.33 and a beta of 2.33. The company has a debt-to-equity ratio of 0.60, a quick ratio of 10.62 and a current ratio of 10.62. The company has a fifty day moving average of $47.25 and a 200 day moving average of $32.94. AST SpaceMobile, Inc. has a fifty-two week low of $17.50 and a fifty-two week high of $60.95.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last issued its earnings results on Monday, August 11th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.22). AST SpaceMobile had a negative return on equity of 32.12% and a negative net margin of 7,213.90%. The firm had revenue of $1.16 million during the quarter, compared to the consensus estimate of $6.37 million. On average, sell-side analysts anticipate that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current fiscal 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.

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