Capital Research Global Investors Acquires Shares of 307,215 AST SpaceMobile, Inc. $ASTS

Capital Research Global Investors acquired a new stake in AST SpaceMobile, Inc. (NASDAQ:ASTS) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 307,215 shares of the company’s stock, valued at approximately $15,078,000.

A number of other hedge funds have also modified their holdings of ASTS. Oppenheimer & Co. Inc. grew its position in AST SpaceMobile by 48.0% in the third quarter. Oppenheimer & Co. Inc. now owns 532,960 shares of the company’s stock valued at $26,158,000 after acquiring an additional 172,759 shares during the period. State Board of Administration of Florida Retirement System raised its stake in AST SpaceMobile by 342.2% during the second quarter. State Board of Administration of Florida Retirement System now owns 132,087 shares of the company’s stock worth $6,172,000 after acquiring an additional 102,217 shares in the last quarter. Yarbrough Capital LLC lifted its holdings in shares of AST SpaceMobile by 28.0% during the third quarter. Yarbrough Capital LLC now owns 99,372 shares of the company’s stock valued at $4,877,000 after acquiring an additional 21,739 shares during the period. Mutual Advisors LLC bought a new position in shares of AST SpaceMobile during the third quarter valued at $1,882,000. Finally, PAX Financial Group LLC acquired a new stake in shares of AST SpaceMobile in the 2nd quarter valued at $822,000. 60.95% of the stock is owned by institutional investors and hedge funds.

AST SpaceMobile Stock Performance

Shares of NASDAQ:ASTS opened at $87.09 on Friday. The business has a fifty day moving average of $96.29 and a 200-day moving average of $75.12. The company has a debt-to-equity ratio of 0.92, a quick ratio of 16.27 and a current ratio of 16.35. AST SpaceMobile, Inc. has a twelve month low of $18.22 and a twelve month high of $129.89. The firm has a market cap of $31.96 billion, a PE ratio of -65.98 and a beta of 2.77.

AST SpaceMobile (NASDAQ:ASTS) last issued its quarterly earnings results on Monday, March 2nd. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.08). AST SpaceMobile had a negative return on equity of 23.02% and a negative net margin of 482.16%.The company had revenue of $54.31 million for the quarter, compared to analyst estimates of $39.53 million. The company’s revenue for the quarter was up 2731.3% on a year-over-year basis. On average, equities research analysts predict 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 Keith R. Larson bought 715 shares of the company’s stock in a transaction on Wednesday, December 17th. The stock was bought at an average cost of $70.02 per share, with a total value of $50,064.30. Following the completion of the purchase, the director owned 1,390 shares in the company, valued at approximately $97,327.80. The trade was a 105.93% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 30.90% of the company’s stock.

Wall Street Analysts Forecast Growth

ASTS has been the topic of several analyst reports. B. Riley Financial lowered their target price on shares of AST SpaceMobile from $105.00 to $95.00 and set a “neutral” rating on the stock in a report on Friday, February 13th. Scotiabank lowered shares of AST SpaceMobile from a “sector perform” rating to a “sector underperform” rating and set a $45.60 price target on the stock. in a research report on Wednesday, January 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AST SpaceMobile in a research note on Monday, December 29th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of AST SpaceMobile in a report on Tuesday, January 20th. Finally, UBS Group lifted their target price on shares of AST SpaceMobile from $43.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, March 4th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, AST SpaceMobile has an average rating of “Reduce” and a consensus target price of $63.77.

AST SpaceMobile Company 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.