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

Deutsche Bank AG increased its stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 181.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 213,203 shares of the company’s stock after purchasing an additional 137,392 shares during the period. Deutsche Bank AG’s holdings in AST SpaceMobile were worth $4,499,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Cetera Investment Advisers increased its holdings in AST SpaceMobile by 122.1% during the fourth quarter. Cetera Investment Advisers now owns 86,683 shares of the company’s stock valued at $1,829,000 after buying an additional 47,647 shares during the last quarter. Caxton Associates LP purchased a new stake in AST SpaceMobile during the fourth quarter valued at approximately $953,000. Baird Financial Group Inc. increased its holdings in AST SpaceMobile by 116.8% during the fourth quarter. Baird Financial Group Inc. now owns 29,600 shares of the company’s stock valued at $625,000 after buying an additional 15,950 shares during the last quarter. Bayesian Capital Management LP increased its holdings in AST SpaceMobile by 222.3% during the fourth quarter. Bayesian Capital Management LP now owns 42,479 shares of the company’s stock valued at $896,000 after buying an additional 29,298 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in AST SpaceMobile during the fourth quarter valued at approximately $3,264,000. 60.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other AST SpaceMobile news, CTO Huiwen Yao sold 55,000 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $26.82, for a total transaction of $1,475,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Julio A. Torres sold 20,000 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $30.73, for a total transaction of $614,600.00. Following the transaction, the director now owns 52,628 shares of the company’s stock, valued at $1,617,258.44. This trade represents a 27.54% decrease in their position. The disclosure for this sale can be found here. 34.15% of the stock is owned by company insiders.

AST SpaceMobile Price Performance

Shares of NASDAQ:ASTS opened at $24.61 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80. The firm has a fifty day moving average price of $24.33 and a 200 day moving average price of $24.51. AST SpaceMobile, Inc. has a fifty-two week low of $4.00 and a fifty-two week high of $39.08. The firm has a market cap of $7.79 billion, a price-to-earnings ratio of -11.61 and a beta of 2.05.

AST SpaceMobile (NASDAQ:ASTS) last issued its earnings results 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 company had revenue of $0.72 million for the quarter, compared to analysts’ expectations of $3.85 million. As a group, sell-side analysts expect that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on ASTS shares. UBS Group upped their target price on shares of AST SpaceMobile from $31.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 price target on shares of AST SpaceMobile in a research report on Tuesday, March 4th. Scotiabank dropped their price target on shares of 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. Oppenheimer started coverage on shares of AST SpaceMobile in a research report on Monday, May 5th. They issued a “market perform” rating for the company. Finally, Roth Capital started coverage on shares of AST SpaceMobile in a research report on Thursday, April 10th. They issued a “buy” rating and a $42.00 price target for the company. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average 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.