Deutsche Bank AG Grows Stock Holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Deutsche Bank AG raised its position in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 181.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 213,203 shares of the company’s stock after acquiring an additional 137,392 shares during the quarter. Deutsche Bank AG owned approximately 0.07% of AST SpaceMobile worth $4,499,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Summit Securities Group LLC purchased a new position in shares of AST SpaceMobile in the fourth quarter valued at about $37,000. Golden State Wealth Management LLC bought a new stake in shares of AST SpaceMobile during the 4th quarter valued at about $46,000. CIBC Private Wealth Group LLC boosted its stake in shares of AST SpaceMobile by 106.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company’s stock valued at $53,000 after purchasing an additional 1,222 shares in the last quarter. AlphaQuest LLC bought a new stake in shares of AST SpaceMobile during the 4th quarter valued at about $67,000. Finally, SRS Capital Advisors Inc. boosted its stake in shares of AST SpaceMobile by 554.5% during the 4th quarter. SRS Capital Advisors Inc. now owns 3,482 shares of the company’s stock valued at $73,000 after purchasing an additional 2,950 shares in the last quarter. Hedge funds and other institutional investors own 60.95% of the company’s stock.

AST SpaceMobile Trading Down 7.7%

NASDAQ:ASTS opened at $24.61 on Tuesday. AST SpaceMobile, Inc. has a one year low of $4.00 and a one year high of $39.08. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80. The company’s 50-day simple moving average is $24.33 and its 200 day simple moving average is $24.51. The firm has a market capitalization of $7.79 billion, a P/E ratio of -11.61 and a beta of 2.05.

AST SpaceMobile (NASDAQ:ASTS) last posted its quarterly earnings data on Monday, May 12th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.03). The company had revenue of $0.72 million for the quarter, compared to analyst estimates of $3.85 million. As a group, analysts forecast that AST SpaceMobile, Inc. will post -0.4 EPS for the current fiscal year.

Insider Transactions at AST SpaceMobile

In other news, CTO Huiwen Yao sold 55,000 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $26.82, for a total value of $1,475,100.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Julio A. Torres sold 20,000 shares of the company’s stock in a transaction that occurred on 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 represents a 27.54% decrease in their position. The disclosure for this sale can be found here. Insiders own 34.15% of the company’s stock.

Wall Street Analyst Weigh In

ASTS has been the topic of a number of research reports. UBS Group lifted their target price on shares of AST SpaceMobile from $31.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $30.00 target price on shares of AST SpaceMobile in a research note on Tuesday, March 4th. Oppenheimer initiated coverage on shares of AST SpaceMobile in a research note on Monday, May 5th. They set a “market perform” rating on the stock. Scotiabank dropped their price objective on shares of AST SpaceMobile from $47.90 to $45.40 and set a “sector outperform” rating on the stock in a research note on Tuesday, May 13th. Finally, Roth Capital initiated coverage on shares of AST SpaceMobile in a research note on Thursday, April 10th. They set a “buy” rating and a $42.00 price objective on the stock. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus 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.