Baird Financial Group Inc. Grows Holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Baird Financial Group Inc. boosted its holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 116.8% in the 4th quarter, Holdings Channel reports. The firm owned 29,600 shares of the company’s stock after purchasing an additional 15,950 shares during the period. Baird Financial Group Inc.’s holdings in AST SpaceMobile were worth $625,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Transactions at AST SpaceMobile

In other news, Director Julio A. Torres sold 20,000 shares of the company’s 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 directly owns 52,628 shares of the company’s stock, valued at $1,617,258.44. This represents a 27.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 34.15% of the company’s stock.

AST SpaceMobile Stock Performance

NASDAQ:ASTS opened at $26.25 on Thursday. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31. AST SpaceMobile, Inc. has a fifty-two week low of $2.29 and a fifty-two week high of $39.08. The stock has a market cap of $8.31 billion, a PE ratio of -12.38 and a beta of 2.05. The firm’s fifty day simple moving average is $24.49 and its 200-day simple moving average is $24.51.

AST SpaceMobile (NASDAQ:ASTS) last posted its quarterly 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 firm had revenue of $0.72 million for the quarter, compared to analyst estimates of $3.85 million. Analysts expect that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ASTS shares. Oppenheimer started coverage on shares of AST SpaceMobile in a research report on Monday, May 5th. They set a “market perform” rating for the company. Cantor Fitzgerald restated an “overweight” rating and set a $30.00 price objective on shares of AST SpaceMobile in a research report on Tuesday, March 4th. Roth Capital started coverage on shares of AST SpaceMobile in a research report on Thursday, April 10th. They set a “buy” rating and a $42.00 price objective for the company. Scotiabank cut their price objective 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. Finally, UBS Group upped their price objective on shares of AST SpaceMobile from $31.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. One equities research 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, AST SpaceMobile presently has an average rating of “Moderate Buy” and an average target price of $42.40.

AST SpaceMobile 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.