Capstone Investment Advisors LLC Buys New Position in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Capstone Investment Advisors LLC bought a new position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 200,000 shares of the company's stock, valued at approximately $580,000. Capstone Investment Advisors LLC owned approximately 0.08% of AST SpaceMobile at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Victory Capital Management Inc. bought a new stake in AST SpaceMobile in the 4th quarter worth about $65,000. Cantor Fitzgerald L. P. bought a new stake in AST SpaceMobile in the 4th quarter worth about $66,000. Rathbones Group PLC bought a new stake in AST SpaceMobile in the 4th quarter worth about $76,000. Principal Financial Group Inc. bought a new stake in AST SpaceMobile in the 1st quarter worth about $45,000. Finally, IPG Investment Advisors LLC bought a new stake in AST SpaceMobile in the 4th quarter worth about $96,000. 60.95% of the stock is owned by institutional investors.

AST SpaceMobile Stock Performance

Shares of ASTS stock traded down $0.30 during trading on Monday, reaching $12.10. 10,595,354 shares of the company's stock traded hands, compared to its average volume of 7,540,848. The company has a market capitalization of $3.12 billion, a P/E ratio of -12.35 and a beta of 1.61. The company has a current ratio of 7.51, a quick ratio of 7.51 and a debt-to-equity ratio of 0.56. The firm's 50-day moving average is $7.37 and its 200 day moving average is $4.74. AST SpaceMobile, Inc. has a 1 year low of $1.97 and a 1 year high of $13.09.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last announced its quarterly earnings results on Wednesday, May 15th. The company reported ($0.16) EPS for the quarter, beating analysts' consensus estimates 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. Equities research analysts expect that AST SpaceMobile, Inc. will post -0.66 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. UBS Group upped their price objective on shares of AST SpaceMobile from $7.00 to $13.00 and gave the stock a "buy" rating in a research report on Monday, June 10th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of AST SpaceMobile from $23.00 to $19.00 and set a "buy" rating on the stock in a research note on Wednesday, April 3rd. Finally, Scotiabank boosted their target price on shares of AST SpaceMobile from $7.40 to $12.90 and gave the company a "sector outperform" rating in a research note on Thursday, May 30th.

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.