33,300 Shares in AST SpaceMobile, Inc. $ASTS Bought by PensionDanmark Pensionsforsikringsaktieselskab

Key Points

• PensionDanmark bought 33,300 AST SpaceMobile shares worth approximately $2.96 million in the second quarter, adding to growing institutional interest; institutions and hedge funds now own 60.95% of the stock.
• Company insiders sold 105,809 shares valued at roughly $9.75 million over the past three months, while insiders retain a 20.89% ownership stake.
• Analyst sentiment is mixed, with AST SpaceMobile holding a consensus “Hold” rating and an average price target of $87.60. Investors are also awaiting second-quarter results after the company previously missed earnings and revenue estimates despite strong year-over-year revenue growth.

PensionDanmark Pensionsforsikringsaktieselskab bought a new stake in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 33,300 shares of the company's stock, valued at approximately $2,959,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of AST SpaceMobile by 7.9% during the 4th quarter. Vanguard Group Inc. now owns 21,488,180 shares of the company's stock worth $1,560,687,000 after buying an additional 1,568,292 shares during the last quarter. Vodafone Ventures Ltd acquired a new stake in shares of AST SpaceMobile in the fourth quarter valued at about $397,413,000. Morgan Stanley increased its position in shares of AST SpaceMobile by 44.0% in the fourth quarter. Morgan Stanley now owns 4,661,551 shares of the company's stock valued at $338,569,000 after acquiring an additional 1,425,199 shares during the last quarter. Geode Capital Management LLC raised its holdings in AST SpaceMobile by 9.8% during the fourth quarter. Geode Capital Management LLC now owns 4,522,549 shares of the company's stock worth $328,749,000 after acquiring an additional 402,505 shares in the last quarter. Finally, State Street Corp raised its holdings in AST SpaceMobile by 9.7% during the fourth quarter. State Street Corp now owns 3,951,685 shares of the company's stock worth $287,011,000 after acquiring an additional 350,690 shares in the last quarter. 60.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Julio A. Torres sold 15,000 shares of the stock in a transaction on Wednesday, May 13th. The stock was 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. This represents a 25.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Andrew Martin Johnson sold 45,809 shares of the stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $93.81, for a total value of $4,297,342.29. Following the completion of the sale, the chief financial officer owned 503,619 shares in the company, valued at approximately $47,244,498.39. This trade represents a 8.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 105,809 shares of company stock valued at $9,748,492 over the last three months. Insiders own 20.89% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on ASTS. Deutsche Bank Aktiengesellschaft downgraded AST SpaceMobile from a "buy" rating to a "hold" rating and decreased their price target for the company from $117.00 to $106.00 in a research note on Friday, May 29th. Roth Capital reiterated a "buy" rating and set a $108.00 price objective on shares of AST SpaceMobile in a research note on Tuesday, May 12th. Piper Sandler assumed coverage on AST SpaceMobile in a report on Wednesday, July 15th. They issued an "overweight" rating and a $100.00 price objective for the company. 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. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of AST SpaceMobile in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $87.60.

Key Stories Impacting AST SpaceMobile

Here are the key news stories impacting AST SpaceMobile this week:

• Positive Sentiment: AST SpaceMobile launched three additional BlueBird satellites, reportedly doubling download speeds for direct-to-device partners. The launch strengthens the company’s network capacity ahead of its Aug. 10 earnings call and supports its goal of deploying a larger constellation by 2027. AST SpaceMobile’s Latest BlueBird Launch Raises the Stakes Ahead of Q2 Earnings
• Positive Sentiment: The company received approval to launch direct-to-cell services in Japan with Rakuten Mobile. It also announced testing and network-integration work with Vodafone, Deutsche Telekom, Orange and other operators across Europe, expanding the potential addressable market for its satellite broadband service. AST SpaceMobile Secures Japan Direct To Cell Approval
• Positive Sentiment: Strength across space-related stocks, including a rally in SpaceX despite its lockup expiration, appears to be providing a favorable sector backdrop for ASTS. SpaceX Climbs as Lockup Expiration Fails to Trigger a Selloff
• Neutral Sentiment: Investors are awaiting second-quarter results on Aug. 10. The report will be important for assessing commercial revenue growth, cash use, deployment timing and whether recent network developments are translating into financial progress. Heavily Shorted Satellite Stock Gearing Up for Earnings
• Negative Sentiment: Pomerantz LLP is investigating potential claims on behalf of AST SpaceMobile investors. The announcement creates a legal and headline risk, although it does not establish wrongdoing. Pomerantz Investor Alert

AST SpaceMobile Stock Performance

Shares of NASDAQ:ASTS opened at $71.94 on Monday. AST SpaceMobile, Inc. has a 52-week low of $36.08 and a 52-week high of $133.86. The company has a market capitalization of $27.92 billion, a P/E ratio of -40.42 and a beta of 2.76. The company has a 50-day simple moving average of $75.96 and a 200 day simple moving average of $86.00. The company has a debt-to-equity ratio of 1.11, a quick ratio of 18.37 and a current ratio of 18.47.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.66) earnings per share for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.43). The business had revenue of $14.73 million for 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%.AST SpaceMobile's quarterly revenue was up 1952.2% compared to the same quarter last year. During the same period last year, the firm earned ($0.20) EPS. Sell-side analysts forecast that AST SpaceMobile, Inc. will post -1.38 earnings per share for the current 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.

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