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

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 49.7% during the 4th quarter, according to its most recent Form 13F 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 period. 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.

Other institutional investors have also added to or reduced their stakes in the company. Twinbeech Capital LP bought a new position in AST SpaceMobile during the 4th quarter worth approximately $4,684,000. Two Sigma Investments LP increased its position in shares of AST SpaceMobile by 117.5% during the fourth quarter. Two Sigma Investments LP now owns 51,874 shares of the company's stock worth $1,095,000 after buying an additional 28,025 shares during the period. State of Wyoming raised its stake in AST SpaceMobile by 221.7% during the fourth quarter. State of Wyoming now owns 8,454 shares of the company's stock worth $178,000 after buying an additional 5,826 shares during the last quarter. Toronto Dominion Bank bought a new position in AST SpaceMobile during the fourth quarter worth $4,220,000. Finally, ProShare Advisors LLC lifted its holdings in AST SpaceMobile by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 37,728 shares of the company's stock valued at $796,000 after buying an additional 12,400 shares during the period. 60.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling at AST SpaceMobile

In related news, Director Julio A. Torres sold 20,000 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were 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 approximately $1,617,258.44. This trade represents a 27.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Huiwen Yao sold 55,000 shares of AST SpaceMobile 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 disclosure for this sale can be found here. 34.15% of the stock is currently owned by company insiders.

AST SpaceMobile Stock Up 1.1%

ASTS stock traded up $0.34 during trading on Friday, reaching $31.19. 14,220,005 shares of the stock were exchanged, compared to its average volume of 12,160,155. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31. AST SpaceMobile, Inc. has a twelve month low of $8.09 and a twelve month high of $39.08. The firm's 50 day moving average is $24.21 and its 200 day moving average is $24.62. The firm has a market cap of $9.87 billion, a P/E ratio of -14.71 and a beta of 2.02.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.03). The firm had revenue of $0.72 million during the quarter, compared to the consensus estimate of $3.85 million. As a group, research analysts forecast that AST SpaceMobile, Inc. will post -0.4 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.