Spire Wealth Management Takes Position in AST SpaceMobile, Inc. $ASTS

Spire Wealth Management acquired a new position in AST SpaceMobile, Inc. (NASDAQ:ASTS) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 960 shares of the company’s stock, valued at approximately $45,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Signaturefd LLC grew its holdings in AST SpaceMobile by 25.2% in the second quarter. Signaturefd LLC now owns 1,826 shares of the company’s stock worth $85,000 after purchasing an additional 367 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of AST SpaceMobile by 2.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 16,641 shares of the company’s stock valued at $759,000 after purchasing an additional 392 shares during the last quarter. waypoint wealth counsel boosted its position in shares of AST SpaceMobile by 3.5% in the 2nd quarter. waypoint wealth counsel now owns 16,746 shares of the company’s stock worth $783,000 after purchasing an additional 565 shares in the last quarter. Xponance Inc. grew its stake in AST SpaceMobile by 5.9% during the 1st quarter. Xponance Inc. now owns 10,244 shares of the company’s stock worth $233,000 after buying an additional 568 shares during the last quarter. Finally, CWM LLC increased its position in AST SpaceMobile by 77.9% during the 2nd quarter. CWM LLC now owns 1,350 shares of the company’s stock valued at $63,000 after buying an additional 591 shares in the last quarter. Hedge funds and other institutional investors own 60.95% of the company’s stock.

AST SpaceMobile Stock Performance

ASTS opened at $65.28 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 8.23 and a quick ratio of 8.23. The firm has a fifty day moving average price of $62.47 and a 200 day moving average price of $47.53. AST SpaceMobile, Inc. has a 1 year low of $17.50 and a 1 year high of $102.79. The stock has a market cap of $23.40 billion, a P/E ratio of -34.54 and a beta of 2.46.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ASTS shares. William Blair began coverage on AST SpaceMobile in a research note on Thursday, August 21st. They issued a “market perform” rating for the company. Weiss Ratings restated a “sell (d-)” rating on shares of AST SpaceMobile in a research note on Wednesday, October 8th. Barclays cut shares of AST SpaceMobile from an “overweight” rating to an “underweight” rating and set a $60.00 price objective for the company. in a research note on Friday, October 17th. Roth Capital reiterated a “buy” rating on shares of AST SpaceMobile in a research note on Tuesday, August 12th. Finally, Scotiabank cut shares of AST SpaceMobile from a “sector perform” rating to a “sector underperform” rating and set a $42.90 target price for the company. in a report on Tuesday, October 7th. Three equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $45.27.

Insider Transactions at AST SpaceMobile

In related news, CTO Huiwen Yao sold 40,000 shares of AST SpaceMobile stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $40.58, for a total value of $1,623,200.00. Following the completion of the transaction, the chief technology officer owned 4,750 shares in the company, valued at $192,755. The trade was a 89.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Andrew Martin Johnson sold 20,000 shares of the company’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $52.48, for a total value of $1,049,600.00. Following the completion of the transaction, the chief financial officer directly owned 397,485 shares of the company’s stock, valued at $20,860,012.80. The trade was a 4.79% decrease in their position. The SEC filing for this sale provides additional information. 30.90% of the stock is owned by company insiders.

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.