200,000 Shares in AST SpaceMobile, Inc. (NASDAQ:ASTS) Acquired by Toronto Dominion Bank

Toronto Dominion Bank acquired a new stake in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 200,000 shares of the company's stock, valued at approximately $4,220,000. Toronto Dominion Bank owned approximately 0.07% of AST SpaceMobile as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Summit Securities Group LLC bought a new position in shares of AST SpaceMobile during the fourth quarter worth $37,000. Golden State Wealth Management LLC bought a new stake in AST SpaceMobile during the fourth quarter worth approximately $46,000. CIBC Private Wealth Group LLC increased its stake in AST SpaceMobile by 106.3% during the fourth 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 during the last quarter. AlphaQuest LLC purchased a new stake in AST SpaceMobile during the fourth quarter valued at approximately $67,000. Finally, SRS Capital Advisors Inc. lifted its stake in shares of AST SpaceMobile by 554.5% in the 4th quarter. SRS Capital Advisors Inc. now owns 3,482 shares of the company's stock valued at $73,000 after purchasing an additional 2,950 shares during the last quarter. Hedge funds and other institutional investors own 60.95% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ASTS. Roth Capital began coverage on AST SpaceMobile in a report on Thursday, April 10th. They set a "buy" rating and a $42.00 price target on the stock. UBS Group raised 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. Oppenheimer began coverage on shares of AST SpaceMobile in a report on Monday, May 5th. They set a "market perform" rating on the stock. Scotiabank decreased their price objective on shares of 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. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $30.00 target price on shares of AST SpaceMobile in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $42.40.

AST SpaceMobile Trading Down 0.9%

Shares of NASDAQ:ASTS traded down $0.23 during trading on Wednesday, reaching $24.61. 3,419,971 shares of the company were exchanged, compared to its average volume of 12,520,041. The business's fifty day simple moving average is $24.08 and its 200-day simple moving average is $24.57. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80. AST SpaceMobile, Inc. has a 12-month low of $4.65 and a 12-month high of $39.08. The firm has a market capitalization of $7.79 billion, a PE ratio of -11.61 and a beta of 2.05.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.03). The business had revenue of $0.72 million during the quarter, compared to the consensus estimate of $3.85 million. On average, research analysts anticipate that AST SpaceMobile, Inc. will post -0.4 EPS for the current year.

Insider Activity

In other AST SpaceMobile news, Director Julio A. Torres sold 20,000 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $30.73, for a total transaction of $614,600.00. Following the transaction, the director now directly owns 52,628 shares in the company, valued at $1,617,258.44. This represents a 27.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Huiwen Yao sold 55,000 shares of the business's stock in a transaction dated Friday, May 16th. The shares were 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. 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.