Encompass Wealth Advisors LLC Lowers Stock Holdings in AST SpaceMobile, Inc. $ASTS

Encompass Wealth Advisors LLC decreased its position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 37.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,157 shares of the company’s stock after selling 25,150 shares during the period. AST SpaceMobile makes up approximately 0.7% of Encompass Wealth Advisors LLC’s holdings, making the stock its 29th largest holding. Encompass Wealth Advisors LLC’s holdings in AST SpaceMobile were worth $1,970,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Signaturefd LLC raised its position in AST SpaceMobile by 25.2% during the second quarter. Signaturefd LLC now owns 1,826 shares of the company’s stock valued at $85,000 after purchasing an additional 367 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of AST SpaceMobile by 2.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 16,641 shares of the company’s stock worth $759,000 after buying an additional 392 shares during the period. Sunbelt Securities Inc. increased its holdings in shares of AST SpaceMobile by 61.9% in the first quarter. Sunbelt Securities Inc. now owns 1,321 shares of the company’s stock worth $30,000 after buying an additional 505 shares during the period. Xponance Inc. increased its holdings in shares of AST SpaceMobile by 5.9% in the first quarter. Xponance Inc. now owns 10,244 shares of the company’s stock worth $233,000 after buying an additional 568 shares during the period. Finally, Close Asset Management Ltd increased its holdings in shares of AST SpaceMobile by 72.4% in the first quarter. Close Asset Management Ltd now owns 1,810 shares of the company’s stock worth $41,000 after buying an additional 760 shares during the period. Hedge funds and other institutional investors own 60.95% of the company’s stock.

AST SpaceMobile Stock Down 0.6%

Shares of NASDAQ:ASTS opened at $49.09 on Friday. AST SpaceMobile, Inc. has a 1 year low of $17.50 and a 1 year high of $60.95. The company has a market cap of $17.60 billion, a PE ratio of -25.97 and a beta of 2.43. 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 stock’s 50-day moving average is $48.18 and its 200 day moving average is $37.12.

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

Analysts Set New Price Targets

Several research firms have recently commented on ASTS. UBS Group downgraded AST SpaceMobile from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $62.00 to $43.00 in a report on Tuesday, September 9th. Roth Capital reiterated a “buy” rating on shares of AST SpaceMobile in a report on Tuesday, August 12th. B. Riley reiterated a “buy” rating and issued a $44.00 price objective (up previously from $36.00) on shares of AST SpaceMobile in a report on Monday, June 16th. William Blair began coverage on AST SpaceMobile in a report on Thursday, August 21st. They issued a “market perform” rating on the stock. Finally, Bank of America began coverage on AST SpaceMobile in a report on Wednesday, June 25th. They set a “neutral” rating and a $55.00 price target on the stock. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $42.82.

Insider Activity at AST SpaceMobile

In other AST SpaceMobile news, CTO Huiwen Yao sold 40,000 shares of AST SpaceMobile stock in a transaction that occurred 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 sale, the chief technology officer directly owned 4,750 shares of the company’s stock, valued at approximately $192,755. The trade was a 89.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Andrew Martin Johnson sold 20,000 shares of AST SpaceMobile stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $52.48, for a total value of $1,049,600.00. Following the sale, the chief financial officer directly owned 397,485 shares in the company, valued at approximately $20,860,012.80. The trade was a 4.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 34.15% of the company’s stock.

About AST SpaceMobile

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.