AST SpaceMobile, Inc. (NASDAQ:ASTS) Shares Purchased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. grew its position in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 319.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 163,296 shares of the company’s stock after acquiring an additional 124,322 shares during the quarter. PNC Financial Services Group Inc. owned about 0.07% of AST SpaceMobile worth $985,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ASTS. Virtu Financial LLC purchased a new stake in shares of AST SpaceMobile during the fourth quarter worth approximately $259,000. Hudson Bay Capital Management LP raised its position in AST SpaceMobile by 31.3% in the third quarter. Hudson Bay Capital Management LP now owns 1,051,615 shares of the company’s stock worth $3,996,000 after acquiring an additional 250,389 shares in the last quarter. Broad Run Investment Management LLC raised its position in AST SpaceMobile by 74.8% in the fourth quarter. Broad Run Investment Management LLC now owns 3,962,853 shares of the company’s stock worth $23,896,000 after acquiring an additional 1,695,805 shares in the last quarter. Cantor Fitzgerald L. P. purchased a new position in AST SpaceMobile in the fourth quarter worth $66,000. Finally, Victory Capital Management Inc. purchased a new position in AST SpaceMobile in the fourth quarter worth $65,000. 60.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft cut their price objective on AST SpaceMobile from $23.00 to $19.00 and set a “buy” rating for the company in a research report on Wednesday, April 3rd. Scotiabank increased their price objective on AST SpaceMobile from $7.40 to $12.90 and gave the company a “sector outperform” rating in a research note on Thursday, May 30th. Finally, UBS Group raised their price target on AST SpaceMobile from $7.00 to $13.00 and gave the stock a “buy” rating in a research note on Monday, June 10th.

AST SpaceMobile Stock Performance

Shares of NASDAQ:ASTS opened at $10.08 on Monday. The company has a market cap of $2.60 billion, a P/E ratio of -10.29 and a beta of 1.57. The company has a debt-to-equity ratio of 0.56, a quick ratio of 7.51 and a current ratio of 7.51. AST SpaceMobile, Inc. has a one year low of $1.97 and a one year high of $12.45. The business’s 50-day simple moving average is $5.35 and its 200 day simple moving average is $4.27.

AST SpaceMobile (NASDAQ:ASTS) last posted its quarterly earnings data on Wednesday, May 15th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.02. The business had revenue of $0.50 million for the quarter, compared to analysts’ expectations of $3.00 million. On average, sell-side analysts forecast that AST SpaceMobile, Inc. will post -0.66 earnings per share for the current fiscal year.

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.