AST SpaceMobile, Inc. $ASTS Shares Acquired by First Trust Advisors LP

First Trust Advisors LP raised its position in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 14.3% during the first quarter, HoldingsChannel.com reports. The firm owned 1,316,852 shares of the company’s stock after buying an additional 164,303 shares during the quarter. First Trust Advisors LP’s holdings in AST SpaceMobile were worth $109,128,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Crewe Advisors LLC acquired a new position in AST SpaceMobile during the 4th quarter worth approximately $25,000. Laurel Wealth Advisors LLC purchased a new stake in shares of AST SpaceMobile during the fourth quarter valued at approximately $25,000. Cornerstone Planning Group LLC lifted its position in shares of AST SpaceMobile by 16,350.0% during the first quarter. Cornerstone Planning Group LLC now owns 329 shares of the company’s stock worth $27,000 after purchasing an additional 327 shares in the last quarter. Byrne Asset Management LLC purchased a new position in shares of AST SpaceMobile in the fourth quarter valued at $29,000. Finally, Acumen Wealth Advisors LLC purchased a new position in shares of AST SpaceMobile in the fourth quarter valued at $29,000. 60.95% of the stock is owned by institutional investors and hedge funds.

AST SpaceMobile Price Performance

ASTS opened at $59.18 on Friday. The firm has a market cap of $22.97 billion, a price-to-earnings ratio of -33.25 and a beta of 2.69. AST SpaceMobile, Inc. has a fifty-two week low of $36.08 and a fifty-two week high of $133.86. The company’s 50-day moving average price is $85.34 and its 200 day moving average price is $88.81. The company has a quick ratio of 18.37, a current ratio of 18.47 and a debt-to-equity ratio of 1.11.

AST SpaceMobile (NASDAQ:ASTS) last issued 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). The company had revenue of $14.73 million during 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%.AST SpaceMobile’s quarterly revenue was up 1952.2% on a year-over-year basis. During the same period in the prior year, the business earned ($0.20) earnings per share. As a group, sell-side analysts expect that AST SpaceMobile, Inc. will post -1.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ASTS. Deutsche Bank Aktiengesellschaft cut shares of AST SpaceMobile from a “buy” rating to a “hold” rating and decreased their price objective for the company from $117.00 to $106.00 in a research report on Friday, May 29th. William Blair reaffirmed a “market perform” rating on shares of AST SpaceMobile in a research report on Friday, May 29th. Wall Street Zen cut AST SpaceMobile from a “sell” rating to a “strong sell” rating in a research note on Wednesday, April 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of AST SpaceMobile in a research note on Wednesday, June 24th. Finally, New Street Research set a $106.00 price target on AST SpaceMobile in a report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, AST SpaceMobile presently has a consensus rating of “Hold” and an average target price of $86.95.

Insider Buying and Selling

In other news, Director Julio A. Torres sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $76.34, for a total value of $1,145,100.00. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Andrew Martin Johnson sold 45,809 shares of the stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $93.81, for a total value of $4,297,342.29. Following the transaction, the chief financial officer directly owned 503,619 shares of the company’s stock, valued at approximately $47,244,498.39. The trade was a 8.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 105,809 shares of company stock valued at $9,748,492 over the last 90 days. 20.89% of the stock is currently owned by company insiders.

Key Headlines Impacting AST SpaceMobile

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

• Positive Sentiment: Analysts and market commentators remained constructive, with reports calling AST SpaceMobile a buy and arguing that recent pullbacks may be an opportunity rather than a sign of weakening demand for direct-to-device satellite service. AST SpaceMobile is a buy, this analyst says
• Positive Sentiment: AT&T said AST SpaceMobile’s satellite offering is expected to “come to fruition” next year, reinforcing the long-term commercial case for the network and supporting the view that the service could fill remaining coverage gaps. ASTS Stock Eyes Weekly Comeback: AT&T Says AST SpaceMobile Satellite Offering Will ‘Come To Fruition’ Next Year
• Positive Sentiment: CEO commentary that BlueBird satellites 8, 9, and 10 are fully deployed, with more satellites already at Cape Canaveral, suggested continued progress on constellation buildout and launch cadence. 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 focused on the stock’s valuation upside and downside scenarios, highlighting a wide range of outcomes as investors reassess execution and growth potential. AST SpaceMobile ASTS stock: $108 bull case vs $41 bear case
• Neutral Sentiment: Market discussion also centered on whether AST SpaceMobile could use its $1 billion note offering to buy a launch provider, which could lower long-term launch costs and reduce dependence on SpaceX and Blue Origin if pursued. Is Buying a Launch Company AST SpaceMobile’s Next Vertical Integration Move?
• Negative Sentiment: A law firm investigation into possible investor claims added legal overhang and may have contributed to risk-off trading in the shares. INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of AST SpaceMobile, Inc. – ASTS
• Negative Sentiment: Recent weakness also reflected concerns around launch disruptions and the need for substantial new debt financing, which raised questions about execution risk and dilution/leveraging implications even as the company works to expand its satellite network. Why a Billion Dollars in New Debt Just Sent ASTS Flying

About AST SpaceMobile

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.