Cetera Investment Advisers Has $1.83 Million Stock Position in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Cetera Investment Advisers grew its holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 122.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 86,683 shares of the company's stock after purchasing an additional 47,647 shares during the quarter. Cetera Investment Advisers' holdings in AST SpaceMobile were worth $1,829,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in ASTS. Lake Hills Wealth Management LLC acquired a new stake in shares of AST SpaceMobile in the fourth quarter valued at about $374,000. KBC Group NV grew its position in AST SpaceMobile by 63.8% during the fourth quarter. KBC Group NV now owns 6,509 shares of the company's stock worth $137,000 after buying an additional 2,536 shares in the last quarter. MBE Wealth Management LLC grew its position in AST SpaceMobile by 7.0% during the fourth quarter. MBE Wealth Management LLC now owns 39,718 shares of the company's stock worth $838,000 after buying an additional 2,602 shares in the last quarter. Chicago Partners Investment Group LLC lifted its stake in AST SpaceMobile by 19.3% during the fourth quarter. Chicago Partners Investment Group LLC now owns 61,858 shares of the company's stock worth $1,392,000 after purchasing an additional 10,004 shares during the period. Finally, Golden State Wealth Management LLC bought a new position in AST SpaceMobile during the fourth quarter worth about $46,000. 60.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on ASTS. Scotiabank cut 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 note on Tuesday, May 13th. UBS Group raised their price target on shares of AST SpaceMobile from $31.00 to $38.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. Oppenheimer began coverage on shares of AST SpaceMobile in a report on Monday, May 5th. They issued a "market perform" rating for the company. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $30.00 target price on shares of AST SpaceMobile in a report on Tuesday, March 4th. Finally, Roth Capital assumed coverage on shares of AST SpaceMobile in a report on Thursday, April 10th. They set a "buy" rating and a $42.00 target price for the company. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $42.40.

AST SpaceMobile Stock Down 1.3%

ASTS traded down $0.32 during trading on Friday, hitting $24.09. The company had a trading volume of 6,888,369 shares, compared to its average volume of 12,559,366. The company has a market capitalization of $7.62 billion, a PE ratio of -11.36 and a beta of 2.05. AST SpaceMobile, Inc. has a one year low of $4.65 and a one year high of $39.08. The firm's 50-day moving average price is $24.11 and its 200 day moving average price is $24.55. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31.

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

Insider Activity

In other news, Director Julio A. Torres sold 20,000 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $30.73, for a total value of $614,600.00. Following the sale, the director now directly owns 52,628 shares of the company's stock, valued at approximately $1,617,258.44. This represents a 27.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Huiwen Yao sold 55,000 shares of the company's 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 disclosure for this sale can be found here. 34.15% of the stock is owned by insiders.

About AST SpaceMobile

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.