AST SpaceMobile, Inc. (NASDAQ:ASTS) Shares Purchased by Northern Trust Corp

Northern Trust Corp raised its holdings in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 8.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,233,056 shares of the company's stock after purchasing an additional 100,153 shares during the quarter. Northern Trust Corp owned 0.43% of AST SpaceMobile worth $26,017,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Summit Securities Group LLC bought a new stake in AST SpaceMobile during the 4th quarter valued at about $37,000. Golden State Wealth Management LLC purchased a new position in shares of AST SpaceMobile during the fourth quarter worth approximately $46,000. CIBC Private Wealth Group LLC raised its stake in shares of AST SpaceMobile by 106.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company's stock valued at $53,000 after acquiring an additional 1,222 shares in the last quarter. AlphaQuest LLC purchased a new stake in shares of AST SpaceMobile in the fourth quarter valued at approximately $67,000. Finally, SRS Capital Advisors Inc. grew its stake in AST SpaceMobile by 554.5% in the fourth quarter. SRS Capital Advisors Inc. now owns 3,482 shares of the company's stock worth $73,000 after purchasing an additional 2,950 shares in the last quarter. 60.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at AST SpaceMobile

In other news, Director Julio A. Torres sold 20,000 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $30.73, for a total transaction of $614,600.00. Following the completion of the sale, the director now owns 52,628 shares in the company, valued at approximately $1,617,258.44. This represents a 27.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 34.15% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Cantor Fitzgerald reiterated an "overweight" rating and issued a $30.00 target price on shares of AST SpaceMobile in a report on Tuesday, March 4th. Oppenheimer assumed coverage on shares of AST SpaceMobile in a research note on Monday, May 5th. They issued a "market perform" rating for the company. Roth Capital started coverage on shares of AST SpaceMobile in a research report on Thursday, April 10th. They set a "buy" rating and a $42.00 target price on the stock. Scotiabank reduced their price target on shares of AST SpaceMobile from $47.90 to $45.40 and set a "sector outperform" rating for the company in a report on Tuesday. Finally, UBS Group increased their price objective on shares of AST SpaceMobile from $31.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $42.40.

AST SpaceMobile Stock Down 1.4%

ASTS traded down $0.37 on Friday, hitting $25.87. The company had a trading volume of 8,720,482 shares, compared to its average volume of 10,944,828. The stock has a market capitalization of $8.19 billion, a price-to-earnings ratio of -12.21 and a beta of 2.05. 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 stock has a fifty day moving average price of $24.43 and a 200-day moving average price of $24.51. AST SpaceMobile, Inc. has a 12-month low of $4.00 and a 12-month high of $39.08.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last released its quarterly 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 for the quarter, compared to analyst estimates of $3.85 million. Analysts predict that AST SpaceMobile, Inc. will post -0.4 EPS for the current fiscal year.

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.