Encompass Wealth Advisors LLC Boosts Stock Position in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Encompass Wealth Advisors LLC boosted its position in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 85.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 67,307 shares of the company's stock after purchasing an additional 31,061 shares during the period. Encompass Wealth Advisors LLC's holdings in AST SpaceMobile were worth $1,531,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of ASTS. Cambridge Investment Research Advisors Inc. boosted its stake in shares of AST SpaceMobile by 49.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 58,479 shares of the company's stock valued at $1,330,000 after purchasing an additional 19,352 shares during the period. MBE Wealth Management LLC grew its stake in AST SpaceMobile by 11.5% in the 1st quarter. MBE Wealth Management LLC now owns 44,289 shares of the company's stock worth $1,007,000 after acquiring an additional 4,571 shares in the last quarter. ORG Partners LLC purchased a new position in shares of AST SpaceMobile during the first quarter worth approximately $48,000. Rakuten Securities Inc. raised its stake in shares of AST SpaceMobile by 157.2% during the first quarter. Rakuten Securities Inc. now owns 24,603 shares of the company's stock valued at $559,000 after acquiring an additional 15,037 shares in the last quarter. Finally, FNY Investment Advisers LLC boosted its holdings in shares of AST SpaceMobile by 31.3% in the first quarter. FNY Investment Advisers LLC now owns 50,124 shares of the company's stock valued at $1,139,000 after purchasing an additional 11,948 shares during the period. Hedge funds and other institutional investors own 60.95% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Oppenheimer started coverage on AST SpaceMobile in a report on Monday, May 5th. They set a "market perform" rating on the stock. UBS Group raised their price target on AST SpaceMobile from $31.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. Scotiabank reaffirmed a "sector perform" rating and issued a $45.40 price objective on shares of AST SpaceMobile in a research note on Monday. B. Riley reiterated a "buy" rating and set a $44.00 target price (up from $36.00) on shares of AST SpaceMobile in a report on Monday, June 16th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $30.00 price target on shares of AST SpaceMobile in a report on Tuesday, March 4th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $43.73.

AST SpaceMobile Stock Up 6.0%

Shares of ASTS stock traded up $3.02 during mid-day trading on Tuesday, hitting $53.22. 19,981,971 shares of the stock traded hands, compared to its average volume of 12,556,644. AST SpaceMobile, Inc. has a 52-week low of $9.32 and a 52-week high of $54.04. The stock has a market cap of $16.84 billion, a P/E ratio of -26.74 and a beta of 2.02. The company has a debt-to-equity ratio of 0.60, a current ratio of 10.62 and a quick ratio of 10.62. The stock's fifty day moving average is $28.93 and its two-hundred day moving average is $26.15.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last posted its 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). AST SpaceMobile had a negative net margin of 7,033.22% and a negative return on equity of 23.56%. The firm had revenue of $0.72 million for the quarter, compared to analysts' expectations of $3.85 million. Equities analysts predict that AST SpaceMobile, Inc. will post -0.4 EPS for the current year.

Insider Transactions at AST SpaceMobile

In other news, 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Scott Wisniewski sold 50,000 shares of AST SpaceMobile stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $35.65, for a total transaction of $1,782,500.00. Following the completion of the sale, the president now owns 545,595 shares of the company's stock, valued at $19,450,461.75. This trade represents a 8.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 184,250 shares of company stock valued at $6,146,750 in the last quarter. 41.80% of the stock is currently owned by corporate insiders.

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.