7,444 Shares in AST SpaceMobile, Inc. $ASTS Acquired by Ethic Inc.

Ethic Inc. purchased a new position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) in the third quarter, Holdings Channel reports. The fund purchased 7,444 shares of the company’s stock, valued at approximately $365,000.

Several other institutional investors and hedge funds have also bought and sold shares of ASTS. Atlantic Union Bankshares Corp acquired a new stake in shares of AST SpaceMobile in the second quarter worth $28,000. Binnacle Investments Inc acquired a new position in AST SpaceMobile during the second quarter valued at $33,000. Chapman Financial Group LLC purchased a new stake in AST SpaceMobile in the second quarter valued at $38,000. Spire Wealth Management acquired a new stake in AST SpaceMobile during the 2nd quarter worth about $45,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of AST SpaceMobile during the 2nd quarter valued at about $47,000. 60.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on ASTS shares. Zacks Research lowered AST SpaceMobile from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 21st. Scotiabank raised shares of AST SpaceMobile from a “sector underperform” rating to a “sector perform” rating and set a $45.60 price objective on the stock in a research note on Monday, November 24th. Barclays cut shares of AST SpaceMobile from an “overweight” rating to an “underweight” rating and set a $60.00 target price for the company. in a research note on Friday, October 17th. UBS Group lowered shares of AST SpaceMobile from a “buy” rating to a “neutral” rating and dropped their price target for the company from $62.00 to $43.00 in a research report on Tuesday, September 9th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of AST SpaceMobile in a research report on Monday, December 29th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $45.66.

AST SpaceMobile Trading Up 8.9%

Shares of AST SpaceMobile stock opened at $90.92 on Tuesday. The company has a current ratio of 9.56, a quick ratio of 9.48 and a debt-to-equity ratio of 0.43. AST SpaceMobile, Inc. has a twelve month low of $17.50 and a twelve month high of $102.79. The firm has a market capitalization of $33.37 billion, a PE ratio of -73.32 and a beta of 2.70. The firm’s 50-day moving average price is $68.94 and its 200 day moving average price is $59.67.

AST SpaceMobile (NASDAQ:ASTS) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.27). The firm had revenue of $14.74 million for the quarter, compared to analysts’ expectations of $22.04 million. AST SpaceMobile had a negative return on equity of 27.76% and a negative net margin of 1,639.59%.AST SpaceMobile’s quarterly revenue was up 1236.4% on a year-over-year basis. During the same quarter last year, the firm posted ($1.10) earnings per share. On average, sell-side analysts predict that AST SpaceMobile, Inc. will post -0.4 EPS for the current fiscal year.

Insider Activity

In other AST SpaceMobile news, Director Keith R. Larson bought 625 shares of the company’s stock in a transaction dated Wednesday, December 24th. The stock was acquired at an average price of $80.00 per share, with a total value of $50,000.00. Following the completion of the acquisition, the director directly owned 2,015 shares of the company’s stock, valued at $161,200. This represents a 44.96% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Shanti B. Gupta sold 10,000 shares of the stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $77.34, for a total transaction of $773,400.00. Following the completion of the sale, the chief operating officer owned 382,375 shares of the company’s stock, valued at $29,572,882.50. This trade represents a 2.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders bought 2,765 shares of company stock valued at $187,236 and sold 2,354,621 shares valued at $164,348,075. Company insiders own 30.90% of the company’s stock.

AST SpaceMobile Profile

AST SpaceMobile is a U.S.-based aerospace company developing a space-based cellular broadband network designed to connect standard mobile phones and other devices directly to satellites. The company’s core proposition is “space-to-cell” service: operating a constellation of low-Earth-orbit (LEO) satellites equipped with large, high-power phased-array antennas to provide wide-area mobile broadband without requiring users to buy specialized terminals or handset modifications.

AST SpaceMobile designs, builds and operates satellite payloads and supporting ground infrastructure.