25,640 Shares in AST SpaceMobile, Inc. (NASDAQ:ASTS) Purchased by PharVision Advisers LLC

PharVision Advisers LLC bought a new position in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 25,640 shares of the company's stock, valued at approximately $541,000.

A number of other institutional investors have also modified their holdings of ASTS. Charles Schwab Investment Management Inc. raised its holdings in shares of AST SpaceMobile by 11.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,266,713 shares of the company's stock valued at $26,728,000 after acquiring an additional 135,008 shares in the last quarter. Handelsbanken Fonder AB purchased a new position in AST SpaceMobile during the 4th quarter valued at about $755,000. Wells Fargo & Company MN raised its holdings in shares of AST SpaceMobile by 25.2% in the 4th quarter. Wells Fargo & Company MN now owns 117,822 shares of the company's stock valued at $2,486,000 after purchasing an additional 23,746 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of AST SpaceMobile by 150.1% in the 4th quarter. Van ECK Associates Corp now owns 258,747 shares of the company's stock worth $5,460,000 after purchasing an additional 155,310 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of AST SpaceMobile by 57.6% in the 4th quarter. Bank of New York Mellon Corp now owns 641,678 shares of the company's stock worth $13,539,000 after purchasing an additional 234,517 shares during the period. 60.95% of the stock is owned by hedge funds and other institutional investors.

AST SpaceMobile Stock Down 1.3%

NASDAQ:ASTS traded down $0.32 during mid-day trading on Monday, hitting $24.09. 6,888,369 shares of the company's stock traded hands, compared to its average volume of 12,559,366. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80. The company has a market capitalization of $7.62 billion, a P/E ratio of -11.36 and a beta of 2.05. The company has a fifty day moving average of $24.11 and a 200 day moving average of $24.55. AST SpaceMobile, Inc. has a twelve month low of $4.65 and a twelve month high of $39.08.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last posted 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 analysts' expectations of $3.85 million. On average, analysts forecast that AST SpaceMobile, Inc. will post -0.4 EPS for the current year.

Insiders Place Their Bets

In related news, Director Julio A. Torres sold 20,000 shares of AST SpaceMobile stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $30.73, for a total transaction of $614,600.00. Following the completion of the sale, the director now owns 52,628 shares of the company's stock, valued at $1,617,258.44. The trade was a 27.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Huiwen Yao sold 55,000 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $26.82, for a total transaction of $1,475,100.00. The disclosure for this sale can be found here. 34.15% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ASTS has been the subject of a number of recent research reports. Roth Capital started coverage on shares of AST SpaceMobile in a research note on Thursday, April 10th. They issued a "buy" rating and a $42.00 price objective for the company. Cantor Fitzgerald reiterated an "overweight" rating and issued a $30.00 price target on shares of AST SpaceMobile in a report on Tuesday, March 4th. Scotiabank decreased their price objective on AST SpaceMobile from $47.90 to $45.40 and set a "sector outperform" rating for the company in a research note on Tuesday, May 13th. Oppenheimer initiated coverage on AST SpaceMobile in a research note on Monday, May 5th. They issued a "market perform" rating on the stock. Finally, UBS Group boosted their target price on shares of AST SpaceMobile from $31.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $42.40.

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.