Deutsche Bank AG Purchases 137,392 Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS)

Deutsche Bank AG increased its holdings in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 181.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 213,203 shares of the company's stock after buying an additional 137,392 shares during the period. Deutsche Bank AG owned about 0.07% of AST SpaceMobile worth $4,499,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Lake Hills Wealth Management LLC acquired a new position in AST SpaceMobile in the fourth quarter valued at $374,000. KBC Group NV boosted its position in shares of AST SpaceMobile by 63.8% during the 4th quarter. KBC Group NV now owns 6,509 shares of the company's stock valued at $137,000 after purchasing an additional 2,536 shares in the last quarter. MBE Wealth Management LLC boosted its position in shares of AST SpaceMobile by 7.0% during the 4th quarter. MBE Wealth Management LLC now owns 39,718 shares of the company's stock valued at $838,000 after purchasing an additional 2,602 shares in the last quarter. Chicago Partners Investment Group LLC boosted its position in shares of AST SpaceMobile by 19.3% during the 4th quarter. Chicago Partners Investment Group LLC now owns 61,858 shares of the company's stock valued at $1,392,000 after purchasing an additional 10,004 shares in the last quarter. Finally, Golden State Wealth Management LLC bought a new stake in shares of AST SpaceMobile during the 4th quarter valued at about $46,000. 60.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Julio A. Torres sold 20,000 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $30.73, for a total value of $614,600.00. Following the transaction, the director now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Huiwen Yao sold 55,000 shares of the firm's stock in a transaction that occurred on 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. Corporate insiders own 34.15% of the company's stock.

AST SpaceMobile Stock Down 1.3%

AST SpaceMobile stock traded down $0.32 during mid-day trading on Friday, reaching $24.09. The stock had a trading volume of 6,888,369 shares, compared to its average volume of 12,559,366. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80. AST SpaceMobile, Inc. has a fifty-two week low of $4.65 and a fifty-two week high of $39.08. The stock's 50-day simple moving average is $24.11 and its 200-day simple moving average is $24.55. The firm has a market capitalization of $7.62 billion, a PE ratio of -11.36 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 for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.03). The firm had revenue of $0.72 million during the quarter, compared to the consensus estimate of $3.85 million. On average, sell-side analysts forecast that AST SpaceMobile, Inc. will post -0.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on ASTS shares. Oppenheimer started coverage on shares of AST SpaceMobile in a research report on Monday, May 5th. They set a "market perform" rating for the company. UBS Group raised their price objective on shares of AST SpaceMobile from $31.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. Scotiabank reduced their price objective on shares of AST SpaceMobile from $47.90 to $45.40 and set a "sector outperform" rating for the company in a research report on Tuesday, May 13th. Roth Capital assumed coverage on shares of AST SpaceMobile in a research note on Thursday, April 10th. They issued a "buy" rating and a $42.00 price target for the company. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $30.00 price target on shares of AST SpaceMobile in a research note on Tuesday, March 4th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.40.

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.