Ashton Thomas Private Wealth LLC Takes Position in AST SpaceMobile, Inc. $ASTS

Ashton Thomas Private Wealth LLC bought a new position in AST SpaceMobile, Inc. (NASDAQ:ASTS) during the 1st quarter, Holdings Channel reports. The firm bought 18,173 shares of the company’s stock, valued at approximately $413,000.

Several other institutional investors and hedge funds have also modified their holdings of ASTS. Rakuten Group Inc. acquired a new position in shares of AST SpaceMobile in the 1st quarter worth approximately $705,398,000. Alphabet Inc. acquired a new position in shares of AST SpaceMobile in the 1st quarter worth approximately $203,375,000. Jump Financial LLC acquired a new position in shares of AST SpaceMobile in the 1st quarter worth approximately $14,750,000. Nuveen LLC acquired a new position in shares of AST SpaceMobile in the 1st quarter worth approximately $9,218,000. Finally, Key Colony Management LLC boosted its holdings in shares of AST SpaceMobile by 204.1% in the 1st quarter. Key Colony Management LLC now owns 596,000 shares of the company’s stock worth $13,553,000 after acquiring an additional 400,000 shares in the last quarter. 60.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Roth Capital reissued a “buy” rating on shares of AST SpaceMobile in a report on Tuesday, August 12th. Zacks Research upgraded AST SpaceMobile from a “strong sell” rating to a “hold” rating in a research report on Monday, August 18th. Scotiabank decreased their price objective on AST SpaceMobile from $45.40 to $42.90 and set a “sector perform” rating on the stock in a research report on Thursday, August 7th. B. Riley reiterated a “buy” rating and issued a $44.00 price objective (up from $36.00) on shares of AST SpaceMobile in a research report on Monday, June 16th. Finally, Bank of America assumed coverage on AST SpaceMobile in a research report on Wednesday, June 25th. They issued a “neutral” rating and a $55.00 price objective on the stock. Three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $42.82.

Insider Buying and Selling at AST SpaceMobile

In other AST SpaceMobile news, CFO Andrew Martin Johnson sold 20,000 shares of the company’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $52.48, for a total transaction of $1,049,600.00. Following the completion of the sale, the chief financial officer owned 397,485 shares in the company, valued at approximately $20,860,012.80. The trade was a 4.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Shanti B. Gupta sold 10,000 shares of the company’s stock in a transaction on Monday, June 16th. The shares were sold at an average price of $41.84, for a total transaction of $418,400.00. Following the sale, the chief operating officer owned 305,667 shares of the company’s stock, valued at $12,789,107.28. The trade was a 3.17% decrease in their position. The disclosure for this sale can be found here. Insiders own 34.15% of the company’s stock.

AST SpaceMobile Stock Performance

Shares of AST SpaceMobile stock opened at $38.37 on Friday. The firm has a fifty day moving average of $48.81 and a two-hundred day moving average of $35.84. The stock has a market capitalization of $13.76 billion, a price-to-earnings ratio of -20.30 and a beta of 2.43. AST SpaceMobile, Inc. has a 52 week low of $17.50 and a 52 week high of $60.95. The company has a debt-to-equity ratio of 0.42, a quick ratio of 8.23 and a current ratio of 8.23.

AST SpaceMobile (NASDAQ:ASTS) last issued its earnings results on Monday, August 11th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.22). The business had revenue of $1.16 million for the quarter, compared to the consensus estimate of $6.37 million. AST SpaceMobile had a negative net margin of 7,213.90% and a negative return on equity of 26.81%. As a group, equities research analysts predict that AST SpaceMobile, Inc. will post -0.4 EPS for the current year.

AST SpaceMobile Company Profile

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.