UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Stock Position in AST SpaceMobile, Inc. (NASDAQ:ASTS)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 49.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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’s holdings in AST SpaceMobile were worth $5,820,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Xponance Inc. lifted its stake in AST SpaceMobile by 8.7% in the fourth quarter. Xponance Inc. now owns 9,676 shares of the company’s stock worth $204,000 after purchasing an additional 772 shares during the last quarter. CIBC Private Wealth Group LLC boosted its holdings in AST SpaceMobile by 106.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company’s stock valued at $53,000 after purchasing an additional 1,222 shares during the last quarter. Americana Partners LLC raised its position in shares of AST SpaceMobile by 5.2% in the fourth quarter. Americana Partners LLC now owns 27,047 shares of the company’s stock worth $571,000 after acquiring an additional 1,326 shares during the period. Axxcess Wealth Management LLC raised its position in shares of AST SpaceMobile by 16.7% during the 4th quarter. Axxcess Wealth Management LLC now owns 10,562 shares of the company’s stock worth $223,000 after purchasing an additional 1,508 shares during the last quarter. Finally, Colonial River Investments LLC grew its stake in AST SpaceMobile by 17.3% during the 4th quarter. Colonial River Investments LLC now owns 10,618 shares of the company’s stock valued at $224,000 after acquiring an additional 1,564 shares in the last quarter. Hedge funds and other institutional investors own 60.95% of the company’s stock.

AST SpaceMobile Stock Up 4.7%

Shares of NASDAQ:ASTS opened at $24.15 on Tuesday. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31. AST SpaceMobile, Inc. has a 12 month low of $7.56 and a 12 month high of $39.08. The firm has a market cap of $7.64 billion, a P/E ratio of -11.39 and a beta of 2.05. The company’s 50-day moving average price is $23.78 and its two-hundred day moving average price is $24.51.

AST SpaceMobile (NASDAQ:ASTS) last announced its earnings results on Monday, May 12th. The company reported ($0.20) 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 analysts’ expectations of $3.85 million. As a group, research analysts forecast that AST SpaceMobile, Inc. will post -0.4 EPS for the current fiscal year.

Insider Buying and Selling at AST SpaceMobile

In related news, Director Julio A. Torres sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $30.73, for a total value of $614,600.00. Following the sale, the director now directly owns 52,628 shares in the company, valued at $1,617,258.44. This represents a 27.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Huiwen Yao sold 55,000 shares of the business’s stock in a transaction that occurred on 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. Insiders own 34.15% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ASTS shares. Oppenheimer began coverage on shares of AST SpaceMobile in a research report on Monday, May 5th. They set a “market perform” rating for the company. UBS Group raised 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. Roth Capital began 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 for the company. 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. Finally, Scotiabank decreased their target price on shares of AST SpaceMobile from $47.90 to $45.40 and set a “sector outperform” rating for the company in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently 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.