Yarbrough Capital LLC Buys Shares of 42,633 AST SpaceMobile, Inc. (NASDAQ:ASTS)

Yarbrough Capital LLC bought a new stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 42,633 shares of the company’s stock, valued at approximately $969,000.

Other institutional investors have also recently made changes to their positions in the company. Summit Securities Group LLC acquired a new stake in shares of AST SpaceMobile in the 4th quarter worth $37,000. Bernard Wealth Management Corp. acquired a new stake in AST SpaceMobile during the 4th quarter worth about $42,000. UMB Bank n.a. acquired a new stake in AST SpaceMobile during the 1st quarter worth about $45,000. Golden State Wealth Management LLC acquired a new stake in AST SpaceMobile during the 4th quarter worth about $46,000. Finally, CIBC Private Wealth Group LLC lifted its position in AST SpaceMobile by 106.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company’s stock worth $53,000 after acquiring an additional 1,222 shares during the period. Institutional investors and hedge funds own 60.95% of the company’s stock.

AST SpaceMobile Stock Performance

NASDAQ ASTS opened at $31.19 on Friday. The stock has a 50-day simple moving average of $24.21 and a two-hundred day simple moving average of $24.63. The firm has a market capitalization of $9.87 billion, a P/E ratio of -14.71 and a beta of 2.02. AST SpaceMobile, Inc. has a fifty-two week low of $8.09 and a fifty-two week high of $39.08. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80.

AST SpaceMobile (NASDAQ:ASTS) last released its quarterly earnings data on Monday, May 12th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.03). The business had revenue of $0.72 million during the quarter, compared to analyst estimates of $3.85 million. On average, equities analysts forecast that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current year.

Insider Buying and Selling at AST SpaceMobile

In other AST SpaceMobile news, Director Julio A. Torres sold 20,000 shares of AST SpaceMobile stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $30.73, for a total transaction of $614,600.00. Following the completion of the transaction, the director now owns 52,628 shares in the company, valued at approximately $1,617,258.44. This trade represents a 27.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Huiwen Yao sold 55,000 shares of AST SpaceMobile stock in a transaction dated 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. Company insiders own 34.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. UBS Group lifted their price target on AST SpaceMobile from $31.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Scotiabank lowered their price target on AST SpaceMobile from $47.90 to $45.40 and set a “sector outperform” rating for the company in a research report on Tuesday, May 13th. Roth Capital assumed coverage on AST SpaceMobile in a research report on Thursday, April 10th. They set a “buy” rating and a $42.00 price target for the company. Oppenheimer assumed coverage on AST SpaceMobile in a research report on Monday, May 5th. They set a “market perform” rating for the company. Finally, 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. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $42.40.

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.