Cetera Investment Advisers Raises Stake in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Cetera Investment Advisers raised its stake in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 122.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 86,683 shares of the company's stock after buying an additional 47,647 shares during the quarter. Cetera Investment Advisers' holdings in AST SpaceMobile were worth $1,829,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Xponance Inc. grew its holdings in shares of AST SpaceMobile by 8.7% during the 4th quarter. Xponance Inc. now owns 9,676 shares of the company's stock worth $204,000 after purchasing an additional 772 shares during the period. CIBC Private Wealth Group LLC grew its holdings in shares of AST SpaceMobile by 106.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company's stock worth $53,000 after purchasing an additional 1,222 shares during the period. Americana Partners LLC grew its holdings in shares of AST SpaceMobile by 5.2% during the 4th quarter. Americana Partners LLC now owns 27,047 shares of the company's stock worth $571,000 after purchasing an additional 1,326 shares during the period. Axxcess Wealth Management LLC grew its holdings in shares of AST SpaceMobile by 16.7% during the 4th quarter. Axxcess Wealth Management LLC now owns 10,562 shares of the company's stock worth $223,000 after purchasing an additional 1,508 shares during the period. Finally, Colonial River Investments LLC grew its holdings in shares of AST SpaceMobile by 17.3% during the 4th quarter. Colonial River Investments LLC now owns 10,618 shares of the company's stock worth $224,000 after purchasing an additional 1,564 shares during the period. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

AST SpaceMobile Price Performance

ASTS opened at $24.61 on Tuesday. The stock's 50-day moving average price is $24.33 and its 200 day moving average price is $24.51. AST SpaceMobile, Inc. has a 12-month low of $4.00 and a 12-month high of $39.08. 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 firm has a market cap of $7.79 billion, a price-to-earnings ratio of -11.61 and a beta of 2.05.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on ASTS shares. UBS Group increased their price target on AST SpaceMobile from $31.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Roth Capital started coverage on AST SpaceMobile in a report on Thursday, April 10th. They set a "buy" rating and a $42.00 price target for the company. Cantor Fitzgerald reiterated an "overweight" rating and set a $30.00 price target on shares of AST SpaceMobile in a report on Tuesday, March 4th. Scotiabank decreased their target price on 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. Finally, Oppenheimer started coverage on AST SpaceMobile in a research note on Monday, May 5th. They set a "market perform" rating on the stock. One 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.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $42.40.

Insider Buying and Selling at AST SpaceMobile

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

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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