Tidal Investments LLC Sells 355,628 Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS)

Tidal Investments LLC reduced its position in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 96.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,277 shares of the company's stock after selling 355,628 shares during the period. Tidal Investments LLC's holdings in AST SpaceMobile were worth $301,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Summit Securities Group LLC purchased a new stake in shares of AST SpaceMobile in the fourth quarter worth about $37,000. Golden State Wealth Management LLC purchased a new stake in shares of AST SpaceMobile in the fourth quarter worth about $46,000. CIBC Private Wealth Group LLC lifted its position in shares of AST SpaceMobile by 106.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company's stock worth $53,000 after buying an additional 1,222 shares in the last quarter. AlphaQuest LLC purchased a new stake in shares of AST SpaceMobile in the fourth quarter worth about $67,000. Finally, SRS Capital Advisors Inc. lifted its position in shares of AST SpaceMobile by 554.5% in the fourth quarter. SRS Capital Advisors Inc. now owns 3,482 shares of the company's stock worth $73,000 after buying an additional 2,950 shares in the last quarter. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at AST SpaceMobile

In related news, Director Julio A. Torres sold 20,000 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $30.73, for a total value of $614,600.00. Following the transaction, the director now owns 52,628 shares of the company's stock, valued at $1,617,258.44. This represents a 27.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $1,475,100.00. The disclosure for this sale can be found here. Company insiders own 34.15% of the company's stock.

Wall Street Analysts Forecast Growth

ASTS has been the topic of a number of research analyst reports. Oppenheimer initiated coverage on AST SpaceMobile in a research report on Monday, May 5th. They issued a "market perform" rating on the stock. 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. Roth Capital initiated 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. Scotiabank reduced their price objective on AST SpaceMobile from $47.90 to $45.40 and set a "sector outperform" rating on the stock in a research note on Tuesday, May 13th. Finally, UBS Group boosted their price objective on AST SpaceMobile from $31.00 to $38.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, AST SpaceMobile presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.40.

AST SpaceMobile Trading Up 13.9%

Shares of NASDAQ ASTS traded up $3.51 during midday trading on Wednesday, hitting $28.69. The company's stock had a trading volume of 32,613,704 shares, compared to its average volume of 12,086,486. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31. The business's 50 day moving average is $23.86 and its two-hundred day moving average is $24.55. AST SpaceMobile, Inc. has a 12-month low of $8.09 and a 12-month high of $39.08. The firm has a market cap of $9.08 billion, a P/E ratio of -13.53 and a beta of 2.05.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last issued its quarterly 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). The firm had revenue of $0.72 million during the quarter, compared to analysts' expectations of $3.85 million. As a group, equities research analysts expect that AST SpaceMobile, Inc. will post -0.4 EPS for the current year.

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.