AST SpaceMobile, Inc. (NASDAQ:ASTS) Stock Position Raised by FORA Capital LLC

FORA Capital LLC boosted its stake in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 12.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 181,268 shares of the company's stock after acquiring an additional 20,086 shares during the period. FORA Capital LLC owned 0.06% of AST SpaceMobile worth $3,825,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its stake in AST SpaceMobile by 235.9% during the third quarter. JPMorgan Chase & Co. now owns 247,781 shares of the company's stock valued at $6,479,000 after purchasing an additional 174,007 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in AST SpaceMobile by 11.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,266,713 shares of the company's stock valued at $26,728,000 after purchasing an additional 135,008 shares during the last quarter. Handelsbanken Fonder AB bought a new stake in AST SpaceMobile during the fourth quarter valued at $755,000. Wells Fargo & Company MN increased its stake in AST SpaceMobile by 25.2% during the fourth quarter. Wells Fargo & Company MN now owns 117,822 shares of the company's stock valued at $2,486,000 after purchasing an additional 23,746 shares during the last quarter. Finally, Van ECK Associates Corp increased its stake in AST SpaceMobile by 150.1% during the fourth quarter. Van ECK Associates Corp now owns 258,747 shares of the company's stock valued at $5,460,000 after purchasing an additional 155,310 shares during the last quarter. 60.95% of the stock is owned by institutional investors and hedge funds.

AST SpaceMobile Price Performance

ASTS traded up $1.40 on Monday, reaching $27.16. The company had a trading volume of 14,360,621 shares, compared to its average volume of 12,803,905. The company has a fifty day moving average of $24.88 and a 200-day moving average of $24.48. The company has a market capitalization of $8.60 billion, a P/E ratio of -12.81 and a beta of 2.05. 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 one year low of $2.12 and a one year high of $39.08.

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 analysts' consensus estimates of ($0.17) by ($0.03). As a group, equities research analysts anticipate that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current year.

Insider Activity

In other 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 transaction of $614,600.00. Following the completion of the transaction, the director now owns 52,628 shares in the company, valued at approximately $1,617,258.44. This trade represents a 27.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 34.15% of the company's stock.

Analyst Ratings Changes

ASTS has been the subject of several recent research reports. Cantor Fitzgerald reiterated an "overweight" rating and set a $30.00 target price on shares of AST SpaceMobile in a research note on Tuesday, March 4th. Roth Capital assumed coverage on shares of AST SpaceMobile in a research report on Thursday, April 10th. They set a "buy" rating and a $42.00 price target for the company. Scotiabank restated an "outperform" rating on shares of AST SpaceMobile in a research report on Wednesday, March 5th. Oppenheimer assumed coverage on shares of AST SpaceMobile in a research report on Monday, May 5th. They set a "market perform" rating for the company. Finally, UBS Group upped 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. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $42.82.

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.