UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 91,536 Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 49.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 275,810 shares of the company's stock after acquiring an additional 91,536 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.10% of AST SpaceMobile worth $5,820,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ASTS. Charles Schwab Investment Management Inc. increased its holdings in AST SpaceMobile by 11.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,266,713 shares of the company's stock worth $26,728,000 after purchasing an additional 135,008 shares in the last quarter. Handelsbanken Fonder AB bought a new position in shares of AST SpaceMobile during the fourth quarter worth about $755,000. Wells Fargo & Company MN raised its position in 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 buying an additional 23,746 shares during the last quarter. Van ECK Associates Corp raised its position in AST SpaceMobile by 150.1% in the 4th quarter. Van ECK Associates Corp now owns 258,747 shares of the company's stock valued at $5,460,000 after buying an additional 155,310 shares during the last quarter. Finally, Toronto Dominion Bank bought a new stake in AST SpaceMobile in the 4th quarter valued at approximately $4,220,000. Institutional investors and hedge funds own 60.95% of the company's stock.

Insider Transactions at AST SpaceMobile

In other AST SpaceMobile news, CTO Huiwen Yao sold 55,000 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $26.82, for a total value of $1,475,100.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Julio A. Torres sold 20,000 shares of AST SpaceMobile stock in a transaction that occurred on 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 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 disclosure for this sale can be found here. Company insiders own 34.15% of the company's stock.

AST SpaceMobile Price Performance

AST SpaceMobile stock traded up $1.17 during midday trading on Thursday, reaching $29.86. 20,841,987 shares of the stock were exchanged, compared to its average volume of 12,126,610. AST SpaceMobile, Inc. has a 52 week low of $8.09 and a 52 week high of $39.08. 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 firm has a market cap of $9.45 billion, a PE ratio of -13.90 and a beta of 2.02. The company's fifty day moving average is $23.86 and its 200-day moving average is $24.55.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last announced its earnings results 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 business had revenue of $0.72 million for the quarter, compared to analyst estimates of $3.85 million. On average, sell-side analysts forecast that AST SpaceMobile, Inc. will post -0.4 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on ASTS. Oppenheimer initiated coverage on shares of AST SpaceMobile in a report on Monday, May 5th. They issued a "market perform" rating on the stock. Roth Capital began coverage on shares of AST SpaceMobile in a research note on Thursday, April 10th. They issued a "buy" rating and a $42.00 price target on the stock. UBS Group boosted their price target on shares of AST SpaceMobile from $31.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. 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 report on Tuesday, May 13th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $30.00 price target on shares of AST SpaceMobile in a research report on Tuesday, March 4th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus 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.