California State Teachers Retirement System Buys 19,471 Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS)

California State Teachers Retirement System grew its stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 15.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 147,430 shares of the company's stock after acquiring an additional 19,471 shares during the period. California State Teachers Retirement System's holdings in AST SpaceMobile were worth $3,111,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of ASTS. Wealth Enhancement Advisory Services LLC purchased a new stake in AST SpaceMobile during the fourth quarter valued at about $217,000. Bernard Wealth Management Corp. purchased a new stake in shares of AST SpaceMobile during the 4th quarter valued at approximately $42,000. First Heartland Consultants Inc. boosted its holdings in AST SpaceMobile by 42.3% in the 4th quarter. First Heartland Consultants Inc. now owns 14,499 shares of the company's stock worth $306,000 after buying an additional 4,311 shares during the period. PharVision Advisers LLC purchased a new position in AST SpaceMobile in the 4th quarter valued at approximately $541,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in AST SpaceMobile by 49.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 275,810 shares of the company's stock valued at $5,820,000 after acquiring an additional 91,536 shares during the period. Hedge funds and other institutional investors own 60.95% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $30.00 price target on shares of AST SpaceMobile in a report on Tuesday, March 4th. UBS Group raised their target price on AST SpaceMobile from $31.00 to $38.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Roth Capital assumed coverage on AST SpaceMobile in a research report on Thursday, April 10th. They set a "buy" rating and a $42.00 price target on the stock. Oppenheimer assumed coverage on shares of AST SpaceMobile in a research note on Monday, May 5th. They set a "market perform" rating for the company. Finally, Scotiabank lowered their target price on shares of 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. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.40.

Insider Transactions at AST SpaceMobile

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

AST SpaceMobile Price Performance

Shares of NASDAQ ASTS traded up $0.34 during midday trading on Friday, hitting $31.19. 14,218,954 shares of the company's stock were exchanged, compared to its average volume of 12,151,637. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31. The business's fifty day moving average price is $24.02 and its two-hundred day moving average price is $24.58. The company has a market cap of $9.87 billion, a price-to-earnings ratio of -14.71 and a beta of 2.02. AST SpaceMobile, Inc. has a 12-month low of $8.09 and a 12-month high of $39.08.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The company reported ($0.20) EPS for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.03). The business had revenue of $0.72 million for the quarter, compared to analyst estimates of $3.85 million. As a group, research analysts forecast that AST SpaceMobile, Inc. will post -0.4 EPS for the current fiscal year.

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.