5,061 Shares in AST SpaceMobile, Inc. $ASTS Bought by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC acquired a new stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) in the second quarter, HoldingsChannel reports. The fund acquired 5,061 shares of the company’s stock, valued at approximately $237,000.

Other hedge funds also recently bought and sold shares of the company. Thoroughbred Financial Services LLC purchased a new stake in shares of AST SpaceMobile during the 2nd quarter worth about $210,000. Cetera Investment Advisers increased its holdings in AST SpaceMobile by 54.6% in the second quarter. Cetera Investment Advisers now owns 170,332 shares of the company’s stock worth $7,960,000 after buying an additional 60,171 shares during the last quarter. Creative Planning raised its position in AST SpaceMobile by 36.3% during the second quarter. Creative Planning now owns 41,429 shares of the company’s stock valued at $1,936,000 after acquiring an additional 11,041 shares in the last quarter. SG Americas Securities LLC raised its position in AST SpaceMobile by 138.3% during the second quarter. SG Americas Securities LLC now owns 71,012 shares of the company’s stock valued at $3,318,000 after acquiring an additional 41,210 shares in the last quarter. Finally, Foundations Investment Advisors LLC acquired a new stake in AST SpaceMobile in the second quarter valued at approximately $328,000. 60.95% of the stock is owned by institutional investors and hedge funds.

AST SpaceMobile Stock Up 1.3%

ASTS stock opened at $51.37 on Friday. The stock has a market capitalization of $18.85 billion, a price-to-earnings ratio of -41.43 and a beta of 2.46. The company has a 50-day moving average of $66.46 and a two-hundred day moving average of $50.56. AST SpaceMobile, Inc. has a 52-week low of $17.50 and a 52-week high of $102.79. The company has a debt-to-equity ratio of 0.43, a current ratio of 9.56 and a quick ratio of 9.48.

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

Insider Buying and Selling

In other news, CFO Andrew Martin Johnson sold 20,000 shares of the firm’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $52.48, for a total value of $1,049,600.00. Following the sale, the chief financial officer owned 397,485 shares in the company, valued at approximately $20,860,012.80. This trade represents a 4.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Huiwen Yao sold 40,000 shares of the business’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $40.58, for a total transaction of $1,623,200.00. Following the transaction, the chief technology officer directly owned 4,750 shares in the company, valued at $192,755. This trade represents a 89.39% decrease in their position. The disclosure for this sale is available in the SEC filing. 30.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ASTS shares. Roth Capital restated a “buy” rating on shares of AST SpaceMobile in a research note on Tuesday, August 12th. William Blair initiated coverage on shares of AST SpaceMobile in a report on Thursday, August 21st. They issued a “market perform” rating for the company. Barclays downgraded shares of AST SpaceMobile from an “overweight” rating to an “underweight” rating and set a $60.00 target price on the stock. in a research report on Friday, October 17th. Zacks Research lowered AST SpaceMobile from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 21st. Finally, Scotiabank downgraded AST SpaceMobile from a “sector perform” rating to a “sector underperform” rating and set a $42.90 price target for the company. in a research note on Tuesday, October 7th. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, AST SpaceMobile currently has an average rating of “Reduce” and a consensus target price of $45.27.

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.