First Heartland Consultants Inc. Boosts Stock Position in AST SpaceMobile, Inc. $ASTS

First Heartland Consultants Inc. boosted its position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 31.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 31,654 shares of the company’s stock after purchasing an additional 7,501 shares during the period. First Heartland Consultants Inc.’s holdings in AST SpaceMobile were worth $2,299,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. REAP Financial Group LLC acquired a new stake in shares of AST SpaceMobile during the third quarter worth about $25,000. Harvest Fund Management Co. Ltd acquired a new position in shares of AST SpaceMobile in the third quarter valued at approximately $29,000. Geneos Wealth Management Inc. increased its stake in AST SpaceMobile by 225.0% during the 3rd quarter. Geneos Wealth Management Inc. now owns 650 shares of the company’s stock worth $32,000 after buying an additional 450 shares during the period. Binnacle Investments Inc purchased a new stake in AST SpaceMobile during the 2nd quarter worth approximately $33,000. Finally, Atlantic Union Bankshares Corp lifted its holdings in AST SpaceMobile by 30.0% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 781 shares of the company’s stock worth $38,000 after buying an additional 180 shares in the last quarter. 60.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ASTS. Weiss Ratings reissued a “sell (d-)” rating on shares of AST SpaceMobile in a research report on Monday, December 29th. UBS Group upped their price objective on AST SpaceMobile from $43.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 4th. B. Riley Financial decreased their target price on AST SpaceMobile from $105.00 to $95.00 and set a “neutral” rating for the company in a report on Friday, February 13th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of AST SpaceMobile in a research note on Tuesday, January 20th. Finally, Zacks Research upgraded AST SpaceMobile from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $63.77.

Insider Buying and Selling

In other AST SpaceMobile news, Director Keith R. Larson bought 625 shares of the company’s stock in a transaction that occurred on Wednesday, December 24th. The shares were purchased at an average price of $80.00 per share, with a total value of $50,000.00. Following the completion of the acquisition, the director directly owned 2,015 shares of the company’s stock, valued at $161,200. This represents a 44.96% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 30.90% of the stock is owned by company insiders.

AST SpaceMobile Trading Down 1.7%

NASDAQ ASTS opened at $88.39 on Tuesday. The company has a quick ratio of 16.27, a current ratio of 16.35 and a debt-to-equity ratio of 0.92. AST SpaceMobile, Inc. has a 52 week low of $18.22 and a 52 week high of $129.89. The stock has a market capitalization of $33.77 billion, a PE ratio of -66.96 and a beta of 2.78. The firm has a 50 day moving average of $96.09 and a two-hundred day moving average of $77.60.

AST SpaceMobile (NASDAQ:ASTS) last announced its quarterly earnings data on Monday, March 2nd. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.08). The firm had revenue of $54.31 million during the quarter, compared to analysts’ expectations of $39.53 million. AST SpaceMobile had a negative net margin of 482.16% and a negative return on equity of 23.02%. AST SpaceMobile’s revenue was up 2731.3% on a year-over-year basis. As a group, research analysts expect that AST SpaceMobile, Inc. will post -0.4 EPS for the current fiscal year.

AST SpaceMobile Profile

AST SpaceMobile is a U.S.-based aerospace company developing a space-based cellular broadband network designed to connect standard mobile phones and other devices directly to satellites. The company’s core proposition is “space-to-cell” service: operating a constellation of low-Earth-orbit (LEO) satellites equipped with large, high-power phased-array antennas to provide wide-area mobile broadband without requiring users to buy specialized terminals or handset modifications.

AST SpaceMobile designs, builds and operates satellite payloads and supporting ground infrastructure.