AST SpaceMobile, Inc. $ASTS Shares Purchased by Moran Wealth Management LLC

Moran Wealth Management LLC grew its position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 17.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 68,607 shares of the company’s stock after purchasing an additional 10,307 shares during the quarter. Moran Wealth Management LLC’s holdings in AST SpaceMobile were worth $3,367,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Voya Investment Management LLC boosted its stake in AST SpaceMobile by 1,992.5% during the first quarter. Voya Investment Management LLC now owns 843,554 shares of the company’s stock valued at $19,182,000 after buying an additional 803,240 shares in the last quarter. Bank of New York Mellon Corp raised its position in AST SpaceMobile by 28.2% in the second quarter. Bank of New York Mellon Corp now owns 761,154 shares of the company’s stock worth $35,569,000 after acquiring an additional 167,416 shares in the last quarter. Quadrature Capital Ltd lifted its holdings in AST SpaceMobile by 170.7% in the 2nd quarter. Quadrature Capital Ltd now owns 569,785 shares of the company’s stock valued at $26,620,000 after acquiring an additional 359,335 shares during the last quarter. Invesco Ltd. boosted its position in shares of AST SpaceMobile by 610.4% during the 2nd quarter. Invesco Ltd. now owns 475,531 shares of the company’s stock valued at $22,222,000 after purchasing an additional 408,595 shares in the last quarter. Finally, Millennium Management LLC boosted its position in shares of AST SpaceMobile by 16.1% during the 1st quarter. Millennium Management LLC now owns 467,626 shares of the company’s stock valued at $10,634,000 after purchasing an additional 64,989 shares in the last quarter. Institutional investors own 60.95% of the company’s stock.

Analyst Ratings Changes

ASTS has been the topic of a number of research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of AST SpaceMobile in a report on Monday, December 29th. Scotiabank lowered shares of AST SpaceMobile from a “sector perform” rating to a “sector underperform” rating and set a $45.60 price target on the stock. in a research report on Wednesday. Zacks Research downgraded AST SpaceMobile from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 21st. Finally, Barclays lowered AST SpaceMobile from an “overweight” rating to an “underweight” rating and set a $60.00 price objective for the company. in a research note on Friday, October 17th. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, AST SpaceMobile presently has a consensus rating of “Reduce” and a consensus target price of $45.66.

Insider Activity

In other news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $69.75, for a total value of $159,631,314.75. Following the completion of the sale, the insider directly owned 211,379 shares of the company’s stock, valued at $14,743,685.25. This represents a 91.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Shanti B. Gupta sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $77.34, for a total transaction of $773,400.00. Following the sale, the chief operating officer owned 382,375 shares of the company’s stock, valued at approximately $29,572,882.50. This represents a 2.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders acquired 2,765 shares of company stock valued at $187,236 and sold 2,354,621 shares valued at $164,348,075. Corporate insiders own 30.90% of the company’s stock.

AST SpaceMobile Stock Up 7.9%

Shares of NASDAQ:ASTS opened at $97.67 on Friday. The firm has a 50 day simple moving average of $70.07 and a 200 day simple moving average of $60.75. AST SpaceMobile, Inc. has a 52 week low of $17.50 and a 52 week high of $102.79. The company has a debt-to-equity ratio of 0.43, a quick ratio of 9.48 and a current ratio of 9.56. The company has a market cap of $35.85 billion, a PE ratio of -78.77 and a beta of 2.70.

AST SpaceMobile (NASDAQ:ASTS) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.27). The firm had revenue of $14.74 million for the quarter, compared to analysts’ expectations of $22.04 million. AST SpaceMobile had a negative return on equity of 27.76% and a negative net margin of 1,639.59%.The company’s revenue for the quarter was up 1236.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.10) earnings per share. As a group, research analysts expect that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current year.

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.