Moran Wealth Management LLC Has $5.08 Million Position in AST SpaceMobile, Inc. $ASTS

Moran Wealth Management LLC reduced its holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 18.4% during the 1st quarter, HoldingsChannel reports. The firm owned 61,247 shares of the company’s stock after selling 13,792 shares during the quarter. Moran Wealth Management LLC’s holdings in AST SpaceMobile were worth $5,076,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. AQR Capital Management LLC boosted its stake in AST SpaceMobile by 11.8% during the 1st quarter. AQR Capital Management LLC now owns 34,548 shares of the company’s stock valued at $786,000 after purchasing an additional 3,642 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of AST SpaceMobile by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 79,764 shares of the company’s stock valued at $1,814,000 after acquiring an additional 3,515 shares during the period. Millennium Management LLC grew its stake in shares of AST SpaceMobile by 16.1% in the first quarter. Millennium Management LLC now owns 467,626 shares of the company’s stock worth $10,634,000 after acquiring an additional 64,989 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in AST SpaceMobile by 18.1% during 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 worth $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 1st quarter valued at $168,000. Institutional investors and hedge funds own 60.95% of the company’s stock.

Analysts Set New Price Targets

ASTS has been the topic of several research analyst reports. B. Riley Financial raised their price target on shares of AST SpaceMobile from $75.00 to $85.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 12th. Wall Street Zen cut shares of AST SpaceMobile from a “sell” rating to a “strong sell” rating in a research note on Wednesday, April 15th. William Blair restated a “market perform” rating on shares of AST SpaceMobile in a research note on Friday, May 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of AST SpaceMobile in a research report on Wednesday, June 24th. Finally, UBS Group lowered their price objective on AST SpaceMobile from $85.00 to $80.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 12th. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, AST SpaceMobile currently has a consensus rating of “Reduce” and a consensus target price of $85.09.

Insider Buying and Selling

In other news, Director Julio A. Torres sold 15,000 shares of the business’s stock in a transaction 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 sale, the director owned 43,239 shares in the company, valued at approximately $3,300,865.26. The trade was a 25.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Hiroshi Mikitani sold 1,350,000 shares of the business’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $86.22, for a total transaction of $116,397,000.00. Following the completion of the sale, the insider owned 27,980,155 shares in the company, valued at $2,412,448,964.10. This represents a 4.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 3,145,809 shares of company stock valued at $280,645,292. 20.89% of the stock is currently owned by insiders.

AST SpaceMobile Price Performance

NASDAQ ASTS opened at $85.13 on Friday. The company has a current ratio of 18.47, a quick ratio of 18.37 and a debt-to-equity ratio of 1.11. The stock’s 50 day moving average is $87.38 and its two-hundred day moving average is $89.44. The company has a market capitalization of $33.04 billion, a price-to-earnings ratio of -47.83 and a beta of 2.69. AST SpaceMobile, Inc. has a 1-year low of $36.08 and a 1-year high of $133.86.

AST SpaceMobile (NASDAQ:ASTS) last issued its earnings results on Monday, May 11th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%.The company’s quarterly revenue was up 1952.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.20) earnings per share. Equities analysts forecast that AST SpaceMobile, Inc. will post -1.47 earnings per share for the current fiscal 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.