33,300 Shares in AST SpaceMobile, Inc. $ASTS Purchased by PensionDanmark Pensionsforsikringsaktieselskab

PensionDanmark Pensionsforsikringsaktieselskab purchased a new stake in AST SpaceMobile, Inc. (NASDAQ:ASTS) during the second quarter, HoldingsChannel.com reports. The firm purchased 33,300 shares of the company’s stock, valued at approximately $2,959,000.

Several other large investors have also recently bought and sold shares of ASTS. Laurel Wealth Advisors LLC acquired a new stake in AST SpaceMobile during the fourth quarter worth approximately $25,000. Cornerstone Planning Group LLC boosted its holdings 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 acquiring an additional 327 shares during the period. Grove Bank & Trust acquired a new position in shares of AST SpaceMobile in the second quarter valued at approximately $27,000. Acumen Wealth Advisors LLC acquired a new position in shares of AST SpaceMobile in the fourth quarter valued at approximately $29,000. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of AST SpaceMobile during the third quarter worth approximately $29,000. 60.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on ASTS shares. New Street Research set a $106.00 price target on AST SpaceMobile in a report on Friday, May 29th. Wall Street Zen lowered AST SpaceMobile from a “sell” rating to a “strong sell” rating in a report on Wednesday, April 15th. Scotiabank upgraded AST SpaceMobile from a “sector underperform” rating to a “sector perform” rating and set a $50.80 price objective on the stock in a research report on Wednesday, July 29th. Roth Capital reissued a “buy” rating and set a $108.00 target price on shares of AST SpaceMobile in a report on Tuesday, May 12th. Finally, Piper Sandler initiated coverage on AST SpaceMobile in a report on Wednesday, July 15th. They set an “overweight” rating and a $100.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, AST SpaceMobile has a consensus rating of “Hold” and a consensus target price of $87.60.

Key Headlines Impacting AST SpaceMobile

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

• Positive Sentiment: AST SpaceMobile launched three additional BlueBird satellites, reportedly doubling download speeds for direct-to-device partners. The launch strengthens the company’s network capacity ahead of its Aug. 10 earnings call and supports its goal of deploying a larger constellation by 2027. AST SpaceMobile’s Latest BlueBird Launch Raises the Stakes Ahead of Q2 Earnings
• Positive Sentiment: The company received approval to launch direct-to-cell services in Japan with Rakuten Mobile. It also announced testing and network-integration work with Vodafone, Deutsche Telekom, Orange and other operators across Europe, expanding the potential addressable market for its satellite broadband service. AST SpaceMobile Secures Japan Direct To Cell Approval
• Positive Sentiment: Strength across space-related stocks, including a rally in SpaceX despite its lockup expiration, appears to be providing a favorable sector backdrop for ASTS. SpaceX Climbs as Lockup Expiration Fails to Trigger a Selloff
• Neutral Sentiment: Investors are awaiting second-quarter results on Aug. 10. The report will be important for assessing commercial revenue growth, cash use, deployment timing and whether recent network developments are translating into financial progress. Heavily Shorted Satellite Stock Gearing Up for Earnings
• Negative Sentiment: Pomerantz LLP is investigating potential claims on behalf of AST SpaceMobile investors. The announcement creates a legal and headline risk, although it does not establish wrongdoing. Pomerantz Investor Alert

Insider Buying and Selling

In related news, CFO Andrew Martin Johnson sold 45,809 shares of the stock in a transaction that occurred 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 sale, the chief financial officer owned 503,619 shares of the company’s stock, valued at $47,244,498.39. This 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 the SEC website. 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 transaction, the chief technology officer owned 34,750 shares in the company, valued at approximately $3,348,857.50. This trade represents a 53.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 105,809 shares of company stock valued at $9,748,492 over the last 90 days. 20.89% of the stock is owned by corporate insiders.

AST SpaceMobile Stock Performance

Shares of NASDAQ:ASTS opened at $71.94 on Monday. AST SpaceMobile, Inc. has a 12-month low of $36.08 and a 12-month high of $133.86. The company’s 50 day moving average price is $75.96 and its two-hundred day moving average price is $86.00. The firm has a market cap of $27.92 billion, a PE ratio of -40.42 and a beta of 2.76. 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 released its quarterly 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). The business had revenue of $14.73 million during the quarter, compared to analyst estimates of $39.01 million. AST SpaceMobile had a negative net margin of 573.67% and a negative return on equity of 24.87%. The firm’s quarterly revenue was up 1952.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.20) earnings per share. Equities research analysts predict that AST SpaceMobile, Inc. will post -1.38 earnings per share for the current year.

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.