Nuveen LLC Purchases Shares of 406,049 AST SpaceMobile, Inc. $ASTS

Key Points

• Nuveen LLC acquired 406,049 shares of AST SpaceMobile, Inc., valued at approximately $9.2 million, representing about 0.13% ownership of the company.
• Various institutional investors significantly increased their stakes in AST SpaceMobile, with most holding now accounting for 60.95% of the company's total stock.
• AST SpaceMobile's stock has experienced fluctuations with a fifty-two week low of $17.50 and a high of $60.95, and it reported a net loss with earnings per share at ($0.41), missing analysts' estimates.

Nuveen LLC purchased a new position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 406,049 shares of the company's stock, valued at approximately $9,218,000. Nuveen LLC owned approximately 0.13% of AST SpaceMobile as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Virtu Financial LLC bought a new stake in shares of AST SpaceMobile during the 1st quarter worth about $1,337,000. Townsquare Capital LLC bought a new stake in shares of AST SpaceMobile during the 1st quarter worth about $388,000. Headlands Technologies LLC bought a new stake in shares of AST SpaceMobile during the 1st quarter worth about $2,389,000. Chicago Partners Investment Group LLC boosted its stake in shares of AST SpaceMobile by 42.1% during the 1st quarter. Chicago Partners Investment Group LLC now owns 87,906 shares of the company's stock worth $1,999,000 after acquiring an additional 26,048 shares in the last quarter. Finally, New Age Alpha Advisors LLC bought a new stake in shares of AST SpaceMobile during the 1st quarter worth about $50,000. Institutional investors own 60.95% of the company's stock.

AST SpaceMobile Stock Performance

Shares of NASDAQ ASTS traded down $2.18 during trading hours on Wednesday, hitting $48.25. 6,214,479 shares of the company's stock were exchanged, compared to its average volume of 8,805,066. AST SpaceMobile, Inc. has a 1-year low of $17.50 and a 1-year high of $60.95. 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 has a market capitalization of $17.30 billion, a price-to-earnings ratio of -25.53 and a beta of 2.33. The company's 50-day moving average price is $49.78 and its 200-day moving average price is $34.83.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) 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 business had revenue of $1.16 million for the quarter, compared to analyst estimates of $6.37 million. AST SpaceMobile had a negative return on equity of 26.81% and a negative net margin of 7,213.90%. On average, sell-side analysts expect that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ASTS shares. Oppenheimer started coverage on AST SpaceMobile in a research note on Monday, May 5th. They set a "market perform" rating for the company. Bank of America assumed coverage on AST SpaceMobile in a research note on Wednesday, June 25th. They set a "neutral" rating and a $55.00 price target for the company. Zacks Research raised AST SpaceMobile from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. Scotiabank cut their price objective on AST SpaceMobile from $45.40 to $42.90 and set a "sector perform" rating for the company in a research report on Thursday, August 7th. Finally, William Blair assumed coverage on AST SpaceMobile in a research report on Thursday, August 21st. They set a "market perform" rating for the company. Five analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $48.41.

Insider Transactions at AST SpaceMobile

In other AST SpaceMobile news, CFO Andrew Martin Johnson sold 20,000 shares of the company's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $52.48, for a total value of $1,049,600.00. Following the completion of the transaction, the chief financial officer owned 397,485 shares of the company's stock, valued at $20,860,012.80. This represents a 4.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Shanti B. Gupta sold 15,000 shares of the company's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $36.08, for a total value of $541,200.00. Following the completion of the transaction, the chief operating officer directly owned 315,667 shares of the company's stock, valued at approximately $11,389,265.36. This trade represents a 4.54% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 149,250 shares of company stock worth $5,721,250. Insiders own 34.15% of the company's stock.

AST SpaceMobile Profile

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.