waypoint wealth counsel Grows Holdings in AST SpaceMobile, Inc. $ASTS

waypoint wealth counsel grew its stake in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 3.5% during the second quarter, Holdings Channel.com reports. The fund owned 16,746 shares of the company’s stock after acquiring an additional 565 shares during the period. waypoint wealth counsel’s holdings in AST SpaceMobile were worth $783,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Alphabet Inc. purchased a new stake in shares of AST SpaceMobile in the 1st quarter valued at approximately $203,375,000. Rakuten Group Inc. purchased a new stake in shares of AST SpaceMobile in the 1st quarter valued at approximately $705,398,000. Jump Financial LLC purchased a new stake in shares of AST SpaceMobile in the 1st quarter valued at approximately $14,750,000. Wealthfront Advisers LLC raised its stake in shares of AST SpaceMobile by 20.5% in the 1st quarter. Wealthfront Advisers LLC now owns 39,737 shares of the company’s stock valued at $904,000 after acquiring an additional 6,753 shares during the period. Finally, Sender Co & Partners Inc. raised its stake in shares of AST SpaceMobile by 44.8% in the 1st quarter. Sender Co & Partners Inc. now owns 295,376 shares of the company’s stock valued at $6,717,000 after acquiring an additional 91,352 shares during the period. 60.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

AST SpaceMobile Trading Down 5.5%

Shares of ASTS stock opened at $82.03 on Friday. The stock has a market cap of $29.41 billion, a price-to-earnings ratio of -43.40 and a beta of 2.41. The company has a quick ratio of 8.23, a current ratio of 8.23 and a debt-to-equity ratio of 0.42. AST SpaceMobile, Inc. has a fifty-two week low of $17.50 and a fifty-two week high of $91.41. The firm’s 50 day moving average price is $50.82 and its two-hundred day moving average price is $40.08.

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. B. Riley restated a “buy” rating and issued a $44.00 price objective (up previously from $36.00) on shares of AST SpaceMobile in a report on Monday, June 16th. Weiss Ratings restated a “sell (d-)” rating on shares of AST SpaceMobile in a report on Wednesday. Bank of America assumed coverage on shares of AST SpaceMobile in a report on Wednesday, June 25th. They issued a “neutral” rating and a $55.00 price objective for the company. Zacks Research upgraded shares of AST SpaceMobile from a “strong sell” rating to a “hold” rating in a report on Monday, August 18th. Finally, Roth Capital restated a “buy” rating on shares of AST SpaceMobile in a report on Tuesday, August 12th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, AST SpaceMobile currently has an average rating of “Hold” and an average price target of $45.27.

AST SpaceMobile Company 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.