HBK Sorce Advisory LLC Invests $364,000 in AST SpaceMobile, Inc. $ASTS

HBK Sorce Advisory LLC purchased a new position in AST SpaceMobile, Inc. (NASDAQ:ASTS) in the 2nd quarter, HoldingsChannel reports. The fund purchased 7,779 shares of the company’s stock, valued at approximately $364,000.

Other large investors have also recently modified their holdings of the company. Spire Wealth Management purchased a new position in shares of AST SpaceMobile in the 2nd quarter worth about $45,000. CWM LLC raised its position in shares of AST SpaceMobile by 77.9% in the 2nd quarter. CWM LLC now owns 1,350 shares of the company’s stock worth $63,000 after purchasing an additional 591 shares during the last quarter. GAMMA Investing LLC raised its position in shares of AST SpaceMobile by 388.7% in the 1st quarter. GAMMA Investing LLC now owns 1,559 shares of the company’s stock worth $35,000 after purchasing an additional 1,240 shares during the last quarter. Financial Gravity Asset Management Inc. purchased a new position in shares of AST SpaceMobile in the 1st quarter worth about $41,000. Finally, Close Asset Management Ltd raised its position in shares of AST SpaceMobile by 72.4% in the 1st quarter. Close Asset Management Ltd now owns 1,810 shares of the company’s stock worth $41,000 after purchasing an additional 760 shares during the last quarter. Hedge funds and other institutional investors own 60.95% of the company’s stock.

Insider Buying and Selling

In related news, CTO Huiwen Yao sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $40.58, for a total transaction of $1,623,200.00. Following the completion of the transaction, the chief technology officer directly owned 4,750 shares in the company, valued at approximately $192,755. The trade was a 89.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Andrew Martin Johnson sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $52.48, for a total value of $1,049,600.00. Following the transaction, the chief financial officer owned 397,485 shares of the company’s stock, valued at approximately $20,860,012.80. This trade represents a 4.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 34.15% of the company’s stock.

AST SpaceMobile Trading Up 4.7%

Shares of NASDAQ:ASTS opened at $80.25 on Friday. The stock has a 50 day moving average of $60.89 and a 200 day moving average of $46.25. The company has a market cap of $28.77 billion, a PE ratio of -42.46 and a beta of 2.41. The company has a current ratio of 8.23, a quick ratio of 8.23 and a debt-to-equity ratio of 0.42. AST SpaceMobile, Inc. has a 12-month low of $17.50 and a 12-month high of $102.79.

AST SpaceMobile (NASDAQ:ASTS) last announced its quarterly earnings data on Monday, August 11th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.22). The company had revenue of $1.16 million for the quarter, compared to the consensus estimate of $6.37 million. AST SpaceMobile had a negative net margin of 7,213.90% and a negative return on equity of 26.81%. As a group, equities research analysts expect that AST SpaceMobile, Inc. will post -0.4 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ASTS shares. Zacks Research lowered AST SpaceMobile from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of AST SpaceMobile in a research report on Wednesday, October 8th. UBS Group lowered AST SpaceMobile from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $62.00 to $43.00 in a research report on Tuesday, September 9th. Roth Capital reissued a “buy” rating on shares of AST SpaceMobile in a research report on Tuesday, August 12th. Finally, Barclays lowered AST SpaceMobile from an “overweight” rating to an “underweight” rating and set a $60.00 target price for the company. in a research report on Friday, October 17th. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $45.27.

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.