BNP Paribas Financial Markets Invests $3.26 Million in AST SpaceMobile, Inc. (NASDAQ:ASTS)

BNP Paribas Financial Markets bought a new position in AST SpaceMobile, Inc. (NASDAQ:ASTS) during the fourth quarter, Holdings Channel reports. The firm bought 154,674 shares of the company’s stock, valued at approximately $3,264,000.

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

Insider Activity

In related news, Director Julio A. Torres sold 20,000 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $30.73, for a total value of $614,600.00. Following the completion of the sale, the director now owns 52,628 shares of the company’s stock, valued at approximately $1,617,258.44. This trade represents a 27.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 34.15% of the company’s stock.

AST SpaceMobile Stock Performance

NASDAQ ASTS opened at $26.24 on Friday. The company has a market cap of $8.30 billion, a PE ratio of -12.38 and a beta of 2.05. The stock’s 50 day simple moving average is $24.43 and its 200-day simple moving average is $24.51. AST SpaceMobile, Inc. has a 1-year low of $3.07 and a 1-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.

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

Analysts Set New Price Targets

ASTS has been the topic of a number of recent analyst reports. Roth Capital initiated coverage on AST SpaceMobile in a research report on Thursday, April 10th. They set a “buy” rating and a $42.00 price target on the stock. UBS Group increased 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. Cantor Fitzgerald reiterated an “overweight” rating and set a $30.00 price target on shares of AST SpaceMobile in a research report on Tuesday, March 4th. Scotiabank lowered their price target on AST SpaceMobile from $47.90 to $45.40 and set a “sector outperform” rating on the stock in a research report on Tuesday. Finally, Oppenheimer initiated coverage on AST SpaceMobile in a research report on Monday, May 5th. They set a “market perform” rating on the stock. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $42.40.

About AST SpaceMobile

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.