IFP Advisors Inc Makes New $165,000 Investment in AST SpaceMobile, Inc. $ASTS

IFP Advisors Inc bought a new position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,509 shares of the company’s stock, valued at approximately $165,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rakuten Group Inc. acquired a new position in AST SpaceMobile during the first quarter worth about $705,398,000. Alphabet Inc. acquired a new position in AST SpaceMobile during the 1st quarter worth approximately $203,375,000. Northern Trust Corp boosted its holdings in shares of AST SpaceMobile by 2.7% in the 1st quarter. Northern Trust Corp now owns 1,266,315 shares of the company’s stock valued at $28,796,000 after buying an additional 33,259 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in AST SpaceMobile by 4.1% during the 1st quarter. Oppenheimer & Co. Inc. now owns 888,654 shares of the company’s stock worth $20,208,000 after purchasing an additional 34,591 shares during the period. Finally, Voya Investment Management LLC raised its position in AST SpaceMobile by 1,992.5% during the 1st quarter. Voya Investment Management LLC now owns 843,554 shares of the company’s stock worth $19,182,000 after buying an additional 803,240 shares during the last quarter. Hedge funds and other institutional investors own 60.95% of the company’s stock.

Insider Activity at AST SpaceMobile

In other news, CFO Andrew Martin Johnson sold 20,000 shares of the business’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $52.48, for a total transaction of $1,049,600.00. Following the transaction, the chief financial officer directly owned 397,485 shares of the company’s stock, valued at approximately $20,860,012.80. The trade was a 4.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Huiwen Yao sold 40,000 shares of the business’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $40.58, for a total transaction of $1,623,200.00. Following the transaction, the chief technology officer directly owned 4,750 shares in the company, valued at approximately $192,755. The trade was a 89.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. 34.15% of the stock is owned by insiders.

AST SpaceMobile Stock Performance

Shares of NASDAQ ASTS opened at $83.49 on Friday. The company has a market cap of $29.93 billion, a PE ratio of -44.17 and a beta of 2.41. AST SpaceMobile, Inc. has a 12 month low of $17.50 and a 12 month high of $102.79. The company has a debt-to-equity ratio of 0.42, a current ratio of 8.23 and a quick ratio of 8.23. The company has a 50-day simple moving average of $54.89 and a 200-day simple moving average of $42.28.

AST SpaceMobile (NASDAQ:ASTS) last issued its quarterly earnings results on Monday, August 11th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.22). AST SpaceMobile had a negative return on equity of 26.81% and a negative net margin of 7,213.90%.The firm had revenue of $1.16 million for the quarter, compared to analysts’ expectations of $6.37 million. On average, equities analysts anticipate that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. UBS Group downgraded shares of AST SpaceMobile from a “buy” rating to a “neutral” rating and cut their price target for the company from $62.00 to $43.00 in a report on Tuesday, September 9th. Weiss Ratings restated a “sell (d-)” rating on shares of AST SpaceMobile in a report on Wednesday, October 8th. Bank of America initiated coverage on shares of AST SpaceMobile in a report on Wednesday, June 25th. They set a “neutral” rating and a $55.00 target price for the company. Barclays downgraded shares of AST SpaceMobile from an “overweight” rating to an “underweight” rating and set a $60.00 target price for the company. in a report on Friday. Finally, Scotiabank downgraded shares of AST SpaceMobile from a “sector perform” rating to a “sector underperform” rating and set a $42.90 target price for the company. in a report on Tuesday, October 7th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $45.27.

AST SpaceMobile Company Profile

AST SpaceMobile, Inc, together with its subsidiaries, develops and provides access to a space-based cellular broadband network for smartphones in the United States. Its SpaceMobile service provides cellular broadband services to end-users who are out of terrestrial cellular coverage. The company was founded in 2017 and is headquartered in Midland, Texas.