AST SpaceMobile, Inc. (NASDAQ:ASTS) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC grew its stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 11,013.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,452 shares of the company's stock after acquiring an additional 35,133 shares during the period. GAMMA Investing LLC's holdings in AST SpaceMobile were worth $8,060,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of AST SpaceMobile by 49.4% in the fourth quarter. Vanguard Group Inc. now owns 14,987,351 shares of the company's stock valued at $316,233,000 after buying an additional 4,955,941 shares in the last quarter. T. Rowe Price Investment Management Inc. purchased a new stake in shares of AST SpaceMobile in the 4th quarter worth about $59,523,000. Key Colony Management LLC grew its stake in AST SpaceMobile by 204.1% in the 1st quarter. Key Colony Management LLC now owns 596,000 shares of the company's stock valued at $13,553,000 after acquiring an additional 400,000 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in AST SpaceMobile by 57.6% during the 4th quarter. Bank of New York Mellon Corp now owns 641,678 shares of the company's stock valued at $13,539,000 after acquiring an additional 234,517 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in AST SpaceMobile by 7.0% during the fourth quarter. Geode Capital Management LLC now owns 3,496,825 shares of the company's stock worth $73,801,000 after acquiring an additional 229,759 shares during the last quarter. 60.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ASTS. Cantor Fitzgerald reissued an "overweight" rating and set a $30.00 price objective on shares of AST SpaceMobile in a research note on Tuesday, March 4th. Scotiabank dropped their price target on 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. UBS Group boosted 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 assumed coverage on AST SpaceMobile in a research note on Thursday, April 10th. They set a "buy" rating and a $42.00 price objective on the stock. Finally, Oppenheimer assumed coverage on AST SpaceMobile in a research report on Monday, May 5th. They set a "market perform" rating 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.com, AST SpaceMobile presently has a consensus rating of "Moderate Buy" and an average target price of $42.40.

AST SpaceMobile Trading Up 2.6%

Shares of ASTS stock traded up $0.89 during trading hours on Tuesday, hitting $35.71. 21,254,043 shares of the company were exchanged, compared to its average volume of 12,304,607. The firm has a fifty day moving average of $24.46 and a 200 day moving average of $24.70. 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, Inc. has a 1 year low of $8.09 and a 1 year high of $39.08. The firm has a market cap of $11.30 billion, a PE ratio of -16.84 and a beta of 2.02.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $0.72 million for the quarter, compared to the consensus estimate of $3.85 million. Analysts expect that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current year.

Insider Buying and Selling at AST SpaceMobile

In other AST SpaceMobile news, COO Shanti B. Gupta sold 15,000 shares of AST SpaceMobile stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $36.08, for a total transaction of $541,200.00. Following the transaction, the chief operating officer now directly owns 315,667 shares of the company's stock, valued at $11,389,265.36. The trade was a 4.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO Huiwen Yao sold 4,250 shares of the firm's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $34.60, for a total transaction of $147,050.00. Following the completion of the transaction, the chief technology officer now directly owns 20,750 shares in the company, valued at approximately $717,950. This represents a 17.00% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 174,250 shares of company stock valued at $5,728,350. Company insiders own 34.15% of the company's stock.

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.