SEB Asset Management AB Acquires Shares of 44,766 AST SpaceMobile, Inc. $ASTS

SEB Asset Management AB acquired a new stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) during the first quarter, Holdings Channel reports. The firm acquired 44,766 shares of the company’s stock, valued at approximately $3,710,000.

Several other large investors also recently modified their holdings of ASTS. AQR Capital Management LLC lifted its position in shares of 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 buying an additional 3,642 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake 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 buying an additional 3,515 shares in the last quarter. Millennium Management LLC grew its position in AST SpaceMobile by 16.1% in the first quarter. Millennium Management LLC now owns 467,626 shares of the company’s stock valued at $10,634,000 after acquiring an additional 64,989 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in 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 acquiring an additional 49,811 shares during the period. Finally, Strs Ohio acquired a new position in AST SpaceMobile during the first quarter worth $168,000. 60.95% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Andrew Martin Johnson sold 45,809 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $93.81, for a total value 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 approximately $47,244,498.39. This trade represents a 8.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CTO Huiwen Yao sold 40,000 shares of AST SpaceMobile stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $96.37, for a total value of $3,854,800.00. Following the completion of the transaction, 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. Over the last ninety days, insiders sold 105,809 shares of company stock worth $9,748,492. 20.89% of the stock is owned by corporate insiders.

Key Headlines 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

Analysts Set New Price Targets

ASTS has been the subject of a number of analyst reports. B. Riley Financial raised AST SpaceMobile from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a report on Friday, July 17th. Wall Street Zen lowered shares of AST SpaceMobile from a “sell” rating to a “strong sell” rating in a report on Wednesday, April 15th. Deutsche Bank Aktiengesellschaft cut shares of AST SpaceMobile from a “buy” rating to a “hold” rating and dropped their target price for the stock from $117.00 to $106.00 in a research report on Friday, May 29th. 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 report on Thursday, April 9th. Finally, Piper Sandler started coverage on shares of AST SpaceMobile in a research report on Wednesday, July 15th. They issued an “overweight” rating and a $100.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, AST SpaceMobile currently has an average rating of “Hold” and a consensus target price of $86.95.

AST SpaceMobile Trading Down 2.2%

ASTS stock opened at $61.95 on Thursday. The business has a fifty day moving average price of $85.81 and a 200 day moving average price of $88.98. AST SpaceMobile, Inc. has a fifty-two week low of $36.08 and a fifty-two week high of $133.86. The stock has a market capitalization of $24.04 billion, a price-to-earnings ratio of -34.80 and a beta of 2.69. 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 issued its quarterly earnings data on Monday, May 11th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.43). The business had revenue of $14.73 million during the quarter, compared to the consensus estimate of $39.01 million. AST SpaceMobile had a negative net margin of 573.67% and a negative return on equity of 24.87%. The company’s revenue for the quarter was up 1952.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.20) EPS. Analysts expect that AST SpaceMobile, Inc. will post -1.38 EPS for the current fiscal year.

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.