HBK Sorce Advisory LLC Buys 12,278 Shares of AST SpaceMobile, Inc. $ASTS

HBK Sorce Advisory LLC boosted its stake in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 147.0% during the 4th quarter, HoldingsChannel reports. The fund owned 20,632 shares of the company’s stock after acquiring an additional 12,278 shares during the quarter. HBK Sorce Advisory LLC’s holdings in AST SpaceMobile were worth $1,499,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Investmark Advisory Group LLC lifted its position in AST SpaceMobile by 2.7% in the 4th quarter. Investmark Advisory Group LLC now owns 4,645 shares of the company’s stock valued at $337,000 after acquiring an additional 120 shares in the last quarter. ORG Partners LLC lifted its position in AST SpaceMobile by 4.2% in the 4th quarter. ORG Partners LLC now owns 3,283 shares of the company’s stock valued at $238,000 after acquiring an additional 133 shares in the last quarter. Atlantic Union Bankshares Corp lifted its position in AST SpaceMobile by 18.2% in the 4th quarter. Atlantic Union Bankshares Corp now owns 923 shares of the company’s stock valued at $67,000 after acquiring an additional 142 shares in the last quarter. Larson Financial Group LLC lifted its position in AST SpaceMobile by 39.0% in the 4th quarter. Larson Financial Group LLC now owns 513 shares of the company’s stock valued at $37,000 after acquiring an additional 144 shares in the last quarter. Finally, Sunbelt Securities Inc. lifted its position in AST SpaceMobile by 22.9% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,003 shares of the company’s stock valued at $49,000 after acquiring an additional 187 shares in the last quarter. 60.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on ASTS. New Street Research began coverage on shares of AST SpaceMobile in a research report on Wednesday, May 13th. They issued a “neutral” rating and a $80.00 price objective on the stock. Deutsche Bank Aktiengesellschaft set a $117.00 price target on shares of AST SpaceMobile in a research note on Wednesday, April 15th. Wall Street Zen lowered shares of AST SpaceMobile from a “sell” rating to a “strong sell” rating in a research note on Wednesday, April 15th. Barclays lifted their price target on shares of AST SpaceMobile from $60.00 to $65.00 and gave the company an “underweight” rating in a research note on Thursday, April 9th. Finally, Roth Mkm reiterated a “buy” rating and issued a $108.00 price target on shares of AST SpaceMobile in a research note on Tuesday, May 12th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, AST SpaceMobile currently has an average rating of “Reduce” and an average price target of $79.45.

Insider Activity

In other news, major shareholder Hiroshi Mikitani sold 1,690,000 shares of the business’s stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $91.42, for a total transaction of $154,499,800.00. Following the transaction, the insider directly owned 29,330,155 shares in the company, valued at $2,681,362,770.10. The trade was a 5.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Julio A. Torres sold 15,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $76.34, for a total transaction of $1,145,100.00. Following the transaction, the director owned 43,239 shares in the company, valued at $3,300,865.26. This represents a 25.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 3,100,000 shares of company stock valued at $276,048,350 over the last quarter. 20.89% of the stock is currently owned by company insiders.

AST SpaceMobile Price Performance

AST SpaceMobile stock opened at $105.86 on Tuesday. The firm has a market capitalization of $41.09 billion, a PE ratio of -59.47 and a beta of 2.60. The company’s 50-day moving average is $85.38 and its 200-day moving average is $83.80. AST SpaceMobile, Inc. has a fifty-two week low of $22.47 and a fifty-two week high of $129.89. The company has a debt-to-equity ratio of 1.11, a current ratio of 18.47 and a quick ratio of 18.37.

AST SpaceMobile (NASDAQ:ASTS) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.66) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.43). The firm had revenue of $14.74 million for the quarter, compared to analyst estimates of $39.01 million. AST SpaceMobile had a negative return on equity of 24.87% and a negative net margin of 573.67%.The firm’s revenue for the quarter was up 1952.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.20) earnings per share. Sell-side analysts anticipate that AST SpaceMobile, Inc. will post -1.47 earnings per share for the current year.

About AST SpaceMobile

AST SpaceMobile is a U.S.-based aerospace company developing a space-based cellular broadband network designed to connect standard mobile phones and other devices directly to satellites. The company’s core proposition is “space-to-cell” service: operating a constellation of low-Earth-orbit (LEO) satellites equipped with large, high-power phased-array antennas to provide wide-area mobile broadband without requiring users to buy specialized terminals or handset modifications.

AST SpaceMobile designs, builds and operates satellite payloads and supporting ground infrastructure.