IPG Investment Advisors LLC Has $2.07 Million Holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Key Points

• IPG Investment Advisors LLC increased its holdings in AST SpaceMobile by 37.7% during the first quarter, acquiring a total of 91,200 shares valued at approximately $2.07 million.
• AST SpaceMobile's stock performance remains volatile, with a market cap of $16.60 billion and trading between a twelve month low of $17.11 and a high of $60.95.
• In recent insider trading, President Scott Wisniewski sold 50,000 shares for around $1.78 million, reflecting an 8.39% decrease in his ownership stake.

IPG Investment Advisors LLC grew its position in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 37.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 91,200 shares of the company's stock after purchasing an additional 24,950 shares during the period. IPG Investment Advisors LLC's holdings in AST SpaceMobile were worth $2,074,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Sunbelt Securities Inc. increased 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 worth $30,000 after purchasing an additional 505 shares during the last quarter. Xponance Inc. boosted its stake in shares of AST SpaceMobile by 5.9% during the 1st quarter. Xponance Inc. now owns 10,244 shares of the company's stock worth $233,000 after acquiring an additional 568 shares in the last quarter. Close Asset Management Ltd boosted its stake in shares of AST SpaceMobile by 72.4% during the 1st quarter. Close Asset Management Ltd now owns 1,810 shares of the company's stock worth $41,000 after acquiring an additional 760 shares in the last quarter. KBC Group NV boosted its stake in shares of AST SpaceMobile by 15.6% during the 1st quarter. KBC Group NV now owns 7,525 shares of the company's stock worth $171,000 after acquiring an additional 1,016 shares in the last quarter. Finally, CIBC Private Wealth Group LLC boosted its stake 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 acquiring an additional 1,222 shares in the last quarter. 60.95% of the stock is owned by institutional investors and hedge funds.

AST SpaceMobile Price Performance

Shares of NASDAQ:ASTS opened at $52.46 on Monday. The business has a 50 day moving average price of $43.73 and a 200 day moving average price of $31.64. AST SpaceMobile, Inc. has a twelve month low of $17.11 and a twelve month high of $60.95. The company has a market cap of $16.60 billion, a price-to-earnings ratio of -26.36 and a beta of 2.33. The company has a quick ratio of 10.62, a current ratio of 10.62 and a debt-to-equity ratio of 0.60.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $0.72 million for the quarter, compared to the consensus estimate of $3.85 million. Research analysts predict that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current year.

Insiders Place Their Bets

In other AST SpaceMobile news, President Scott Wisniewski sold 50,000 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $35.65, for a total value of $1,782,500.00. Following the completion of the sale, the president owned 545,595 shares in the company, valued at approximately $19,450,461.75. This trade represents a 8.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Huiwen Yao sold 4,250 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $34.60, for a total value of $147,050.00. Following the completion of the sale, the chief technology officer owned 20,750 shares of the company's stock, valued at $717,950. This represents a 17.00% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 184,250 shares of company stock worth $6,146,750. 41.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ASTS. Roth Capital began coverage on AST SpaceMobile in a research note on Thursday, April 10th. They set a "buy" rating and a $42.00 price target for the company. Bank of America began coverage on AST SpaceMobile in a research note on Wednesday, June 25th. They set a "neutral" rating and a $55.00 price target for the company. B. Riley reiterated a "buy" rating and set a $44.00 price target (up previously from $36.00) on shares of AST SpaceMobile in a research note on Monday, June 16th. Oppenheimer began coverage on AST SpaceMobile in a research note on Monday, May 5th. They set a "market perform" rating for the company. Finally, Scotiabank reiterated a "sector perform" rating and set a $45.40 price target on shares of AST SpaceMobile in a research note on Monday, June 23rd. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $45.34.

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.

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