KPP Advisory Services LLC Purchases New Stake in AST SpaceMobile, Inc. $ASTS

KPP Advisory Services LLC purchased a new stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 22,700 shares of the company’s stock, valued at approximately $1,649,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Crewe Advisors LLC bought a new position in AST SpaceMobile during the fourth quarter worth about $25,000. Laurel Wealth Advisors LLC bought a new position in AST SpaceMobile during the fourth quarter worth about $25,000. Byrne Asset Management LLC bought a new position in AST SpaceMobile during the fourth quarter worth about $29,000. REAP Financial Group LLC bought a new position in AST SpaceMobile during the third quarter worth about $25,000. Finally, Financial Connections Group Inc. boosted its position in AST SpaceMobile by 100.0% during the fourth quarter. Financial Connections Group Inc. now owns 500 shares of the company’s stock worth $36,000 after purchasing an additional 250 shares during the period. Institutional investors own 60.95% of the company’s stock.

AST SpaceMobile Stock Performance

ASTS stock opened at $70.89 on Monday. The company has a market capitalization of $27.08 billion, a PE ratio of -53.70 and a beta of 2.60. AST SpaceMobile, Inc. has a one year low of $22.47 and a one year high of $129.89. The company’s 50 day moving average price is $86.85 and its two-hundred day moving average price is $83.37. The company has a debt-to-equity ratio of 0.92, a quick ratio of 16.27 and a current ratio of 16.35.

AST SpaceMobile (NASDAQ:ASTS) last posted its quarterly earnings results on Monday, March 2nd. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.08). AST SpaceMobile had a negative return on equity of 23.02% and a negative net margin of 482.16%.The business had revenue of $54.31 million for the quarter, compared to analysts’ expectations of $39.53 million. AST SpaceMobile’s revenue was up 2731.3% compared to the same quarter last year. As a group, analysts predict that AST SpaceMobile, Inc. will post -0.99 earnings per share for the current fiscal year.

Insider Activity at AST SpaceMobile

In other news, CTO Huiwen Yao sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $88.88, for a total value of $3,555,200.00. Following the transaction, the chief technology officer owned 4,750 shares in the company, valued at approximately $422,180. This trade represents a 89.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Hiroshi Mikitani sold 1,690,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $91.42, for a total transaction of $154,499,800.00. Following the completion of the transaction, the insider owned 29,330,155 shares in the company, valued at $2,681,362,770.10. This represents a 5.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 3,080,000 shares of company stock worth $274,452,000 in the last 90 days. Company insiders own 30.90% of the company’s stock.

Analysts Set New Price Targets

ASTS has been the subject of a number of research reports. Wall Street Zen lowered shares of AST SpaceMobile from a “sell” rating to a “strong sell” rating in a research report on Wednesday, April 15th. B. Riley Financial cut their target price on shares of AST SpaceMobile from $105.00 to $95.00 and set a “neutral” rating for the company in a research report on Friday, February 13th. New Street Research set a $115.00 target price on shares of AST SpaceMobile in a research report on Monday, April 20th. Barclays increased their target price on shares of AST SpaceMobile from $60.00 to $65.00 and gave the stock an “underweight” rating in a research report on Thursday, April 9th. Finally, Deutsche Bank Aktiengesellschaft set a $117.00 price objective on shares of AST SpaceMobile in a research report on Wednesday, April 15th. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, AST SpaceMobile presently has a consensus rating of “Reduce” and an average price target of $82.51.

AST SpaceMobile Company Profile

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.