Bank of New York Mellon Corp Has $69.41 Million Stock Holdings in AST SpaceMobile, Inc. $ASTS

Bank of New York Mellon Corp boosted its position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 21.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 837,559 shares of the company’s stock after acquiring an additional 148,464 shares during the period. Bank of New York Mellon Corp owned approximately 0.22% of AST SpaceMobile worth $69,409,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ASTS. Focus Partners Wealth lifted its position in AST SpaceMobile by 8,016.7% in the fourth quarter. Focus Partners Wealth now owns 1,269,609 shares of the company’s stock worth $92,000,000 after purchasing an additional 1,253,967 shares during the period. KPP Advisory Services LLC acquired a new stake in AST SpaceMobile during the fourth quarter worth $1,649,000. M&T Bank Corp increased its holdings in AST SpaceMobile by 1,062.9% in the 4th quarter. M&T Bank Corp now owns 77,994 shares of the company’s stock valued at $5,665,000 after buying an additional 71,287 shares during the period. Arrowpoint Investment Partners Singapore Pte. Ltd. bought a new stake in AST SpaceMobile in the 4th quarter valued at $2,290,000. Finally, Legal & General Group Plc raised its stake in shares of AST SpaceMobile by 26.2% in the 4th quarter. Legal & General Group Plc now owns 232,436 shares of the company’s stock valued at $16,882,000 after buying an additional 48,318 shares in the last quarter. Institutional investors and hedge funds own 60.95% of the company’s stock.

AST SpaceMobile Stock Down 2.2%

Shares of NASDAQ:ASTS opened at $61.95 on Thursday. AST SpaceMobile, Inc. has a 52 week low of $36.08 and a 52 week high of $133.86. The company has a debt-to-equity ratio of 1.11, a quick ratio of 18.37 and a current ratio of 18.47. The company’s fifty day moving average is $85.81 and its 200-day moving average is $88.98. The company has a market capitalization of $24.04 billion, a PE ratio of -34.80 and a beta of 2.69.

AST SpaceMobile (NASDAQ:ASTS) last posted its earnings results 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). AST SpaceMobile had a negative return on equity of 24.87% and a negative net margin of 573.67%.The firm had revenue of $14.73 million during the quarter, compared to the consensus estimate of $39.01 million. During the same period in the previous year, the company posted ($0.20) EPS. The firm’s revenue for the quarter was up 1952.2% compared to the same quarter last year. Equities research analysts predict that AST SpaceMobile, Inc. will post -1.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ASTS. Barclays raised their price objective on shares of AST SpaceMobile from $60.00 to $65.00 and gave the stock an “underweight” rating in a report on Thursday, April 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of AST SpaceMobile in a research report on Wednesday, June 24th. William Blair restated a “market perform” rating on shares of AST SpaceMobile in a research note on Friday, May 29th. Wall Street Zen downgraded AST SpaceMobile from a “sell” rating to a “strong sell” rating in a report on Wednesday, April 15th. Finally, Deutsche Bank Aktiengesellschaft lowered AST SpaceMobile from a “buy” rating to a “hold” rating and lowered their price objective for the company from $117.00 to $106.00 in a research note on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $86.95.

Key Stories Impacting AST SpaceMobile

Here are the key news stories impacting AST SpaceMobile this week:

• Positive Sentiment: AST SpaceMobile completed a private offering of $1.15 billion in convertible senior notes due 2034, which gives it substantially more funding to support satellite deployment and execution of its constellation plan. AST SpaceMobile Announces Completion of Private Offering of $1.15 Billion of Convertible Senior Notes Due 2034
• Positive Sentiment: Investors initially viewed the new debt positively once they recognized it could help get the company’s satellites launched, helping explain a sharp move higher earlier in the day. Why a Billion Dollars in New Debt Just Sent ASTS Flying
• Positive Sentiment: Management also said BlueBird satellites 8, 9, and 10 are fully deployed, with three more already at Cape, reinforcing progress toward the company’s launch roadmap. ASTS Stock Rises Overnight: CEO Says BlueBirds 8, 9 And 10 Are Fully Deployed — With 3 More Satellites Already At Cape
• Neutral Sentiment: Some commentary continued to frame AST SpaceMobile as a high-risk but potentially compelling long-term space stock, with bullish comparisons to other space names. If The Market Crashes, This Is The 1 Space Stock I Can’t Wait To Buy
• Neutral Sentiment: Other sector-related coverage compared AST SpaceMobile with Redwire, highlighting the competitive opportunity in the space systems market rather than a clear new catalyst. Better Space Stock: AST SpaceMobile vs. Redwire
• Negative Sentiment: Concern remains over the company’s heavy cash burn, and Jim Cramer reiterated that AST SpaceMobile is “losing a fortune,” which may weigh on sentiment. ‘That Thing Has Just Been Crushed’: Cramer On This Tech Stock
• Negative Sentiment: Pomerantz LLP announced an investigation into claims on behalf of ASTS investors, adding a legal overhang that can pressure the stock. INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of AST SpaceMobile, Inc. – ASTS

Insider Buying and Selling at AST SpaceMobile

In other AST SpaceMobile news, CFO Andrew Martin Johnson sold 45,809 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $93.81, for a total transaction of $4,297,342.29. Following the sale, the chief financial officer directly owned 503,619 shares of the company’s stock, valued at approximately $47,244,498.39. This represents a 8.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Huiwen Yao sold 40,000 shares of AST SpaceMobile stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $96.37, for a total transaction of $3,854,800.00. Following the completion of the transaction, the chief technology officer owned 34,750 shares of the company’s stock, valued at $3,348,857.50. This trade represents a 53.51% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 105,809 shares of company stock worth $9,748,492 over the last ninety days. Corporate insiders own 20.89% of the company’s stock.

AST SpaceMobile Company Profile

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.