Independent Financial Group LLC Invests $6.83 Million in AST SpaceMobile, Inc. $ASTS

Independent Financial Group LLC bought a new stake in AST SpaceMobile, Inc. (NASDAQ:ASTS) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 82,484 shares of the company’s stock, valued at approximately $6,835,000.

Other large investors also recently made changes to their positions in the company. Calton & Associates Inc. boosted its holdings in AST SpaceMobile by 0.8% during the fourth quarter. Calton & Associates Inc. now owns 13,579 shares of the company’s stock worth $986,000 after purchasing an additional 104 shares during the last quarter. Investmark Advisory Group LLC increased its stake 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 buying an additional 120 shares during the last quarter. ORG Partners LLC lifted its position in shares of AST SpaceMobile by 4.2% during the 4th quarter. ORG Partners LLC now owns 3,283 shares of the company’s stock worth $238,000 after buying an additional 133 shares in the last quarter. Atlantic Union Bankshares Corp lifted its position in shares of AST SpaceMobile by 18.2% during the 4th quarter. Atlantic Union Bankshares Corp now owns 923 shares of the company’s stock worth $67,000 after buying an additional 142 shares in the last quarter. Finally, Larson Financial Group LLC lifted its position in shares of AST SpaceMobile by 39.0% during the 4th quarter. Larson Financial Group LLC now owns 513 shares of the company’s stock worth $37,000 after buying an additional 144 shares in the last quarter. 60.95% of the stock is owned by institutional investors.

Insider Buying and Selling

In other AST SpaceMobile news, Director Julio A. Torres sold 15,000 shares of the stock in a transaction on 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 completion of the transaction, the director directly owned 43,239 shares of the company’s stock, valued at approximately $3,300,865.26. This represents a 25.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Huiwen Yao sold 40,000 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $96.37, for a total value of $3,854,800.00. Following the completion of the sale, the chief technology officer directly owned 34,750 shares of the company’s stock, valued at $3,348,857.50. This represents a 53.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 105,809 shares of company stock valued at $9,748,492. 20.89% of the stock is owned by company insiders.

AST SpaceMobile Stock Performance

Shares of ASTS stock opened at $55.01 on Friday. 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 firm has a market cap of $21.35 billion, a price-to-earnings ratio of -30.90 and a beta of 2.69. AST SpaceMobile, Inc. has a 52 week low of $36.08 and a 52 week high of $133.86. The firm’s 50-day simple moving average is $87.11 and its two-hundred day simple moving average is $89.34.

AST SpaceMobile (NASDAQ:ASTS) last released its earnings results on Monday, May 11th. The company reported ($0.66) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.43). AST SpaceMobile had a negative net margin of 573.67% and a negative return on equity of 24.87%. The company had revenue of $14.73 million for the quarter, compared to the consensus estimate of $39.01 million. During the same period in the prior year, the company earned ($0.20) earnings per share. The firm’s revenue was up 1952.2% on a year-over-year basis. As a group, equities analysts forecast that AST SpaceMobile, Inc. will post -1.37 earnings per share for the current year.

Key Headlines Impacting AST SpaceMobile

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

• Positive Sentiment: Piper Sandler initiated coverage on AST SpaceMobile with an Overweight rating, signaling continued analyst confidence in the long-term opportunity. SpaceX, RocketLab rated Neutral, ASTS rated Overweight at Piper Sandler
• Positive Sentiment: The company also reported progress on its satellite network, including regulatory approval in New Zealand, Bell Canada’s completed ground station in Québec, and the arrival of BlueBird 11 ahead of upcoming launches. AST SpaceMobile (ASTS) Secures Global Approvals As Texas Expansion And Launches Near
• Positive Sentiment: Shares may also be getting some short-term technical support as the recent decline has pushed the stock closer to oversold territory, which can sometimes trigger a bounce. AST SpaceMobile stock sinks on double dose of bad news

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ASTS shares. New Street Research set a $106.00 target price on AST SpaceMobile in a report on Friday, May 29th. Piper Sandler began coverage on AST SpaceMobile in a report on Wednesday. They set an “overweight” rating and a $100.00 price target on the stock. Barclays boosted their price objective on AST SpaceMobile from $60.00 to $65.00 and gave the stock an “underweight” rating in a research report on Thursday, April 9th. William Blair restated a “market perform” rating on shares of AST SpaceMobile in a research note on Friday, May 29th. Finally, Wall Street Zen downgraded AST SpaceMobile from a “sell” rating to a “strong sell” rating in a research note on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, six have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $86.95.

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.