Wealth Enhancement Advisory Services LLC Purchases Shares of 10,276 AST SpaceMobile, Inc. (NASDAQ:ASTS)

Wealth Enhancement Advisory Services LLC purchased a new stake in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 10,276 shares of the company's stock, valued at approximately $217,000.

Other large investors have also recently bought and sold shares of the company. Summit Securities Group LLC acquired a new stake in shares of AST SpaceMobile during the 4th quarter worth approximately $37,000. Bernard Wealth Management Corp. acquired a new stake in shares of AST SpaceMobile during the 4th quarter worth approximately $42,000. CIBC Private Wealth Group LLC boosted its position in shares of AST SpaceMobile by 106.3% during the 4th 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 in the last quarter. AlphaQuest LLC acquired a new stake in shares of AST SpaceMobile during the 4th quarter worth approximately $67,000. Finally, SRS Capital Advisors Inc. boosted its position in shares of AST SpaceMobile by 554.5% during the 4th quarter. SRS Capital Advisors Inc. now owns 3,482 shares of the company's stock worth $73,000 after acquiring an additional 2,950 shares in the last quarter. 60.95% of the stock is owned by institutional investors.

Insider Transactions at AST SpaceMobile

In related news, CTO Huiwen Yao sold 55,000 shares of AST SpaceMobile stock in a transaction on Friday, May 16th. The shares were sold at an average price of $26.82, for a total transaction of $1,475,100.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Shanti B. Gupta sold 10,000 shares of AST SpaceMobile stock in a transaction on Monday, June 16th. The stock was sold at an average price of $41.84, for a total transaction of $418,400.00. Following the transaction, the chief operating officer now directly owns 305,667 shares of the company's stock, valued at $12,789,107.28. This represents a 3.17% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 184,250 shares of company stock worth $6,146,750. Company insiders own 34.15% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ASTS shares. B. Riley increased their price target on shares of AST SpaceMobile from $36.00 to $44.00 and gave the stock a "buy" rating in a research report on Monday. UBS Group increased 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 reduced their price target on shares of 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. Oppenheimer started coverage on shares of AST SpaceMobile in a research report on Monday, May 5th. They issued a "market perform" rating on the stock. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $30.00 target price on shares of AST SpaceMobile in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, AST SpaceMobile has an average rating of "Moderate Buy" and an average price target of $43.73.

AST SpaceMobile Trading Up 10.6%

AST SpaceMobile stock traded up $4.25 during mid-day trading on Wednesday, reaching $44.35. The company had a trading volume of 21,208,036 shares, compared to its average volume of 12,403,062. AST SpaceMobile, Inc. has a fifty-two week low of $9.32 and a fifty-two week high of $44.68. The company has a debt-to-equity ratio of 0.60, a quick ratio of 10.62 and a current ratio of 10.62. The business has a fifty day simple moving average of $26.49 and a 200 day simple moving average of $25.31.

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 company had revenue of $0.72 million during the quarter, compared to analyst estimates of $3.85 million. AST SpaceMobile had a negative net margin of 7,033.22% and a negative return on equity of 23.56%. On average, equities research analysts expect that AST SpaceMobile, Inc. will post -0.4 EPS for the current fiscal year.

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.