5,080 Shares in AST SpaceMobile, Inc. $ASTS Acquired by Concurrent Investment Advisors LLC

Key Points

• Concurrent Investment Advisors opened a new Q3 position in AST SpaceMobile, buying 5,080 shares worth about $249,000, joining other recent institutional entrants; institutional investors now own about 60.95% of the stock.
• AST SpaceMobile missed Q3 expectations with EPS of ($0.45) vs. consensus ($0.18) and revenue of $14.74M vs. $22.04M, though revenue rose 1,236% year‑over‑year; the company remains unprofitable (PE -83.47) despite a market cap of about $37.99 billion.
• Significant insider selling has occurred recently (COO and CTO sales among others; ~2.35M shares sold worth ~$164.3M in the past 90 days), and analyst sentiment is mixed with an average rating of "Reduce" and an average target price of $45.66.

Concurrent Investment Advisors LLC purchased a new position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 5,080 shares of the company's stock, valued at approximately $249,000.

A number of other large investors also recently modified their holdings of ASTS. Atlantic Union Bankshares Corp purchased a new stake in shares of AST SpaceMobile during the 2nd quarter worth $28,000. Geneos Wealth Management Inc. raised its stake in AST SpaceMobile by 225.0% in the third quarter. Geneos Wealth Management Inc. now owns 650 shares of the company's stock valued at $32,000 after buying an additional 450 shares in the last quarter. Binnacle Investments Inc purchased a new stake in AST SpaceMobile during the 2nd quarter worth about $33,000. Chapman Financial Group LLC acquired a new position in shares of AST SpaceMobile during the 2nd quarter worth about $38,000. Finally, Spire Wealth Management acquired a new position in shares of AST SpaceMobile during the 2nd quarter worth about $45,000. 60.95% of the stock is owned by hedge funds and other institutional investors.

AST SpaceMobile Stock Performance

Shares of ASTS opened at $103.50 on Thursday. The company's 50 day simple moving average is $75.83 and its 200-day simple moving average is $63.99. The firm has a market cap of $37.99 billion, a PE ratio of -83.47 and a beta of 2.70. AST SpaceMobile, Inc. has a 12-month low of $17.50 and a 12-month high of $120.93. The company has a current ratio of 9.56, a quick ratio of 9.48 and a debt-to-equity ratio of 0.43.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.45) earnings per share for the quarter, missing analysts' consensus estimates of ($0.18) by ($0.27). The business had revenue of $14.74 million for the quarter, compared to analyst estimates 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 firm's revenue for the quarter was up 1236.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.10) EPS. As a group, equities analysts predict that AST SpaceMobile, Inc. will post -0.4 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ASTS shares. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of AST SpaceMobile in a research report on Tuesday. Zacks Research cut shares of AST SpaceMobile from a "hold" rating to a "strong sell" rating in a report on Friday, January 9th. Scotiabank cut shares of AST SpaceMobile from a "sector perform" rating to a "sector underperform" rating and set a $45.60 target price for the company. in a report on Wednesday, January 7th. B. Riley downgraded shares of AST SpaceMobile from a "buy" rating to a "neutral" rating in a research report on Tuesday, January 13th. Finally, Barclays cut shares of AST SpaceMobile from an "overweight" rating to an "underweight" rating and set a $60.00 price target for the company. in a research report on Friday, October 17th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat, AST SpaceMobile has an average rating of "Reduce" and an average target price of $45.66.

Insider Activity

In related news, COO Shanti B. Gupta sold 10,000 shares of the business's stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $77.34, for a total value of $773,400.00. Following the transaction, the chief operating officer owned 382,375 shares in the company, valued at $29,572,882.50. The trade was a 2.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CTO Huiwen Yao sold 40,000 shares of the stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $73.52, for a total value of $2,940,800.00. Following the sale, the chief technology officer directly owned 4,750 shares of the company's stock, valued at $349,220. The trade was a 89.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have bought 2,765 shares of company stock valued at $187,236 and have sold 2,354,621 shares valued at $164,348,075. Corporate insiders own 30.90% of the company's stock.

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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