Vanguard Group Inc. Has $19.33 Million Holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Vanguard Group Inc. boosted its position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 49.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,663,760 shares of the company's stock after buying an additional 2,217,531 shares during the quarter. Vanguard Group Inc. owned 2.60% of AST SpaceMobile worth $19,325,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of ASTS. Victory Capital Management Inc. bought a new position in shares of AST SpaceMobile during the 4th quarter valued at about $65,000. Cantor Fitzgerald L. P. acquired a new position in AST SpaceMobile in the fourth quarter worth approximately $66,000. Rathbones Group PLC bought a new position in shares of AST SpaceMobile in the fourth quarter valued at $76,000. BNP Paribas bought a new position in shares of AST SpaceMobile in the first quarter valued at $43,000. Finally, Principal Financial Group Inc. acquired a new stake in shares of AST SpaceMobile during the 1st quarter valued at $45,000. 60.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Scotiabank lifted their target price on AST SpaceMobile from $7.40 to $12.90 and gave the stock a "sector outperform" rating in a report on Thursday, May 30th. UBS Group lifted 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 Down 7.0 %

NASDAQ:ASTS traded down $1.48 during trading hours on Monday, hitting $19.73. 11,188,950 shares of the stock traded hands, compared to its average volume of 8,063,348. The firm has a 50 day moving average price of $13.42 and a 200 day moving average price of $6.77. The firm has a market cap of $5.08 billion, a price-to-earnings ratio of -20.13 and a beta of 1.61. AST SpaceMobile, Inc. has a fifty-two week low of $1.97 and a fifty-two week high of $23.04. The company has a current ratio of 7.51, a quick ratio of 7.51 and a debt-to-equity ratio of 0.56.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last issued its quarterly earnings results on Wednesday, May 15th. The company reported ($0.16) earnings per share 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 anticipate that AST SpaceMobile, Inc. will post -0.65 earnings per share for the current year.

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.