Massachusetts Financial Services Co. MA Makes New Investment in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Massachusetts Financial Services Co. MA acquired a new stake in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 320,757 shares of the company's stock, valued at approximately $7,294,000. Massachusetts Financial Services Co. MA owned about 0.10% of AST SpaceMobile as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in ASTS. Dakota Wealth Management purchased a new position in shares of AST SpaceMobile in the 1st quarter valued at $2,975,000. SBI Securities Co. Ltd. lifted its position in AST SpaceMobile by 52.2% in the first quarter. SBI Securities Co. Ltd. now owns 56,351 shares of the company's stock valued at $1,281,000 after acquiring an additional 19,331 shares during the last quarter. Alphabet Inc. acquired a new position in AST SpaceMobile in the first quarter valued at $203,375,000. Florida Financial Advisors LLC acquired a new position in AST SpaceMobile in the first quarter valued at $375,000. Finally, Xponance Inc. grew its holdings in shares of AST SpaceMobile by 5.9% during the first quarter. Xponance Inc. now owns 10,244 shares of the company's stock worth $233,000 after purchasing an additional 568 shares during the last quarter. Hedge funds and other institutional investors own 60.95% of the company's stock.

AST SpaceMobile Stock Up 0.9%

ASTS stock opened at $57.98 on Friday. The stock has a market capitalization of $18.35 billion, a PE ratio of -29.14 and a beta of 2.27. The company has a fifty day moving average of $37.74 and a 200-day moving average of $29.27. The company has a debt-to-equity ratio of 0.60, a quick ratio of 10.62 and a current ratio of 10.62. AST SpaceMobile, Inc. has a one year low of $12.37 and a one year high of $58.08.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.20) EPS 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 during the quarter, compared to analyst estimates of $3.85 million. As a group, analysts expect that AST SpaceMobile, Inc. will post -0.4 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ASTS. Scotiabank restated a "sector perform" rating and set a $45.40 price target on shares of AST SpaceMobile in a research note on Monday, June 23rd. B. Riley restated 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. Roth Capital initiated coverage on shares of AST SpaceMobile in a report on Thursday, April 10th. They issued a "buy" rating and a $42.00 target price on the stock. Bank of America initiated coverage on shares of AST SpaceMobile in a research report on Wednesday, June 25th. They issued a "neutral" rating and a $55.00 price target for the company. Finally, Oppenheimer assumed coverage on shares of AST SpaceMobile in a research report on Monday, May 5th. They set a "market perform" rating on the stock. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $45.34.

Insider Activity

In other news, COO Shanti B. Gupta sold 10,000 shares of AST SpaceMobile stock in a transaction on Monday, June 16th. The stock was sold at an average price of $41.84, for a total transaction of $418,400.00. Following the completion of the transaction, the chief operating officer owned 305,667 shares of the company's stock, valued at $12,789,107.28. The trade was a 3.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Scott Wisniewski sold 50,000 shares of the business's stock in a transaction dated 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 owned 545,595 shares in the company, valued at $19,450,461.75. This represents a 8.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 184,250 shares of company stock worth $6,146,750. Company insiders own 34.15% of the company's stock.

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.

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