Dynamic Advisor Solutions LLC Acquires 11,949 Shares of AST SpaceMobile, Inc. $ASTS

Key Points

• Dynamic Advisor Solutions LLC increased its stake in AST SpaceMobile by 10.2%, owning 128,796 shares valued at approximately $6.02 million.
• AST SpaceMobile's stock has seen significant fluctuations, with a 12-month low of $17.50 and a high of $60.95, currently trading around $40.43.
• The company reported a quarterly loss of ($0.41) EPS, missing expectations, and analysts expect a consensus target price of $42.82 for the stock.

Dynamic Advisor Solutions LLC increased its stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 10.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,796 shares of the company's stock after purchasing an additional 11,949 shares during the quarter. Dynamic Advisor Solutions LLC's holdings in AST SpaceMobile were worth $6,019,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Sunbelt Securities Inc. raised its position in AST SpaceMobile by 61.9% in the 1st quarter. Sunbelt Securities Inc. now owns 1,321 shares of the company's stock valued at $30,000 after purchasing an additional 505 shares during the last quarter. GAMMA Investing LLC increased its holdings in AST SpaceMobile by 388.7% in the first quarter. GAMMA Investing LLC now owns 1,559 shares of the company's stock valued at $35,000 after buying an additional 1,240 shares in the last quarter. Financial Gravity Asset Management Inc. acquired a new stake in AST SpaceMobile in the first quarter valued at $41,000. Close Asset Management Ltd increased its holdings in AST SpaceMobile by 72.4% during the 1st quarter. Close Asset Management Ltd now owns 1,810 shares of the company's stock valued at $41,000 after acquiring an additional 760 shares in the last quarter. Finally, Bernard Wealth Management Corp. purchased a new stake in AST SpaceMobile in the 4th quarter valued at approximately $42,000. Hedge funds and other institutional investors own 60.95% of the company's stock.

Insider Buying and Selling

In other news, CTO Huiwen Yao sold 40,000 shares of the company's stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $40.58, for a total transaction of $1,623,200.00. Following the transaction, the chief technology officer owned 4,750 shares of the company's stock, valued at $192,755. This represents a 89.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Andrew Martin Johnson sold 20,000 shares of AST SpaceMobile stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $52.48, for a total transaction of $1,049,600.00. Following the transaction, the chief financial officer directly owned 397,485 shares in the company, valued at $20,860,012.80. The trade was a 4.79% decrease in their position. The disclosure for this sale can be found here. 34.15% of the stock is currently owned by corporate insiders.

AST SpaceMobile Stock Performance

NASDAQ:ASTS traded up $3.66 during midday trading on Friday, reaching $45.10. The stock had a trading volume of 20,712,043 shares, compared to its average volume of 8,995,527. The stock has a market capitalization of $16.17 billion, a P/E ratio of -23.86 and a beta of 2.43. The firm's fifty day simple moving average is $48.38 and its 200-day simple moving average is $36.44. AST SpaceMobile, Inc. has a 1-year low of $17.50 and a 1-year high of $60.95. The company has a debt-to-equity ratio of 0.42, a current ratio of 8.23 and a quick ratio of 8.23.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $1.16 million for the quarter, compared to analyst estimates of $6.37 million. AST SpaceMobile had a negative return on equity of 26.81% and a negative net margin of 7,213.90%. On average, equities research analysts forecast that AST SpaceMobile, Inc. will post -0.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Scotiabank dropped their target price 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. B. Riley reissued a "buy" rating and set a $44.00 target price (up from $36.00) on shares of AST SpaceMobile in a research report on Monday, June 16th. UBS Group downgraded shares of AST SpaceMobile from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $62.00 to $43.00 in a report on Tuesday, September 9th. Zacks Research raised shares of AST SpaceMobile from a "strong sell" rating to a "hold" rating in a report on Monday, August 18th. Finally, William Blair initiated coverage on AST SpaceMobile in a research report on Thursday, August 21st. They set a "market perform" rating for the company. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $42.82.

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.