BI Asset Management Fondsmaeglerselskab A S Invests $720,000 in AST SpaceMobile, Inc. $ASTS

BI Asset Management Fondsmaeglerselskab A S acquired a new stake in AST SpaceMobile, Inc. (NASDAQ:ASTS) during the 1st quarter, Holdings Channel.com reports. The firm acquired 8,692 shares of the company’s stock, valued at approximately $720,000.

A number of other large investors have also made changes to their positions in ASTS. AQR Capital Management LLC increased its position in AST SpaceMobile by 11.8% during the 1st quarter. AQR Capital Management LLC now owns 34,548 shares of the company’s stock worth $786,000 after purchasing an additional 3,642 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in AST SpaceMobile by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 79,764 shares of the company’s stock valued at $1,814,000 after purchasing an additional 3,515 shares in the last quarter. Millennium Management LLC grew its holdings in shares of AST SpaceMobile by 16.1% during the first quarter. Millennium Management LLC now owns 467,626 shares of the company’s stock worth $10,634,000 after buying an additional 64,989 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of AST SpaceMobile by 18.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 325,621 shares of the company’s stock valued at $7,405,000 after buying an additional 49,811 shares during the last quarter. Finally, Strs Ohio acquired a new position in shares of AST SpaceMobile in the first quarter valued at approximately $168,000. Institutional investors and hedge funds own 60.95% of the company’s stock.

Wall Street Analysts Forecast Growth

ASTS has been the topic of a number of analyst reports. William Blair restated a “market perform” rating on shares of AST SpaceMobile in a research report on Friday, May 29th. Roth Mkm reiterated a “buy” rating and issued a $108.00 price target on shares of AST SpaceMobile in a report on Tuesday, May 12th. New Street Research set a $106.00 price target on AST SpaceMobile in a research note on Friday, May 29th. Weiss Ratings restated a “sell (d-)” rating on shares of AST SpaceMobile in a report on Friday, March 27th. Finally, UBS Group lowered their price objective on AST SpaceMobile from $85.00 to $80.00 and set a “neutral” rating for the company in a research report on Tuesday, May 12th. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $85.09.

AST SpaceMobile Price Performance

AST SpaceMobile stock opened at $65.62 on Friday. AST SpaceMobile, Inc. has a 1 year low of $36.08 and a 1 year high of $133.86. The firm has a 50 day moving average price of $87.49 and a 200 day moving average price of $89.25. The company has a market cap of $25.47 billion, a price-to-earnings ratio of -36.87 and a beta of 2.70. The company has a debt-to-equity ratio of 1.11, a quick ratio of 18.37 and a current ratio of 18.47.

AST SpaceMobile (NASDAQ:ASTS) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.66) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.43). The company had revenue of $14.73 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 business’s revenue for the quarter was up 1952.2% on a year-over-year basis. During the same period last year, the company posted ($0.20) EPS. Sell-side analysts predict that AST SpaceMobile, Inc. will post -1.47 earnings per share for the current year.

Insider Activity at AST SpaceMobile

In other news, CFO Andrew Martin Johnson sold 45,809 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $93.81, for a total transaction of $4,297,342.29. Following the completion of the sale, the chief financial officer directly owned 503,619 shares in the company, valued at $47,244,498.39. This represents a 8.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Julio A. Torres sold 15,000 shares of the company’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $76.34, for a total value of $1,145,100.00. Following the sale, the director owned 43,239 shares of the company’s stock, valued at approximately $3,300,865.26. The trade was a 25.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 3,145,809 shares of company stock valued at $280,645,292 over the last quarter. 20.89% of the stock is currently owned by corporate insiders.

AST SpaceMobile 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.