6,590 Shares in AST SpaceMobile, Inc. $ASTS Purchased by Capital Advisors Inc. OK

Key Points

• Capital Advisors Inc. OK purchased 6,590 shares of AST SpaceMobile, Inc. valued at approximately $308,000 during the second quarter, adding to the significant institutional investment in the company.
• Insider trading activity includes the sale of 40,000 shares by CTO Huiwen Yao and 20,000 shares by CFO Andrew Martin Johnson, reflecting notable reductions in their ownership stakes.
• AST SpaceMobile reported a loss of ($0.41) earnings per share (EPS) for the last quarter, missing analysts' estimates and indicating challenges in revenue generation with only $1.16 million reported for the period.

Capital Advisors Inc. OK purchased a new stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,590 shares of the company's stock, valued at approximately $308,000.

Several other institutional investors have also recently made changes to their positions in the stock. Rakuten Group Inc. bought a new stake in shares of AST SpaceMobile during the 1st quarter worth approximately $705,398,000. Alphabet Inc. acquired a new position in AST SpaceMobile during the first quarter worth $203,375,000. Voya Investment Management LLC raised its position 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 worth $19,182,000 after acquiring an additional 803,240 shares in the last quarter. Jump Financial LLC bought a new stake in AST SpaceMobile during the first quarter worth $14,750,000. Finally, Nuveen LLC acquired a new stake in AST SpaceMobile in the first quarter valued at $9,218,000. Institutional investors and hedge funds own 60.95% of the company's stock.

Insider Activity at AST SpaceMobile

In other news, CTO Huiwen Yao sold 40,000 shares of AST SpaceMobile stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $40.58, for a total value of $1,623,200.00. Following the completion of the sale, the chief technology officer directly owned 4,750 shares in the company, valued at approximately $192,755. The trade was a 89.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Andrew Martin Johnson sold 20,000 shares of the business's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $52.48, for a total value of $1,049,600.00. Following the completion of the sale, the chief financial officer owned 397,485 shares of the company's stock, valued at approximately $20,860,012.80. This trade represents a 4.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. 41.80% of the stock is currently owned by company insiders.

AST SpaceMobile Stock Performance

ASTS opened at $72.90 on Tuesday. 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 business has a fifty day simple moving average of $48.58 and a 200 day simple moving average of $38.69. AST SpaceMobile, Inc. has a 1 year low of $17.50 and a 1 year high of $74.77. The company has a market capitalization of $26.14 billion, a PE ratio of -38.57 and a beta of 2.41.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last announced its earnings results on Monday, August 11th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.22). AST SpaceMobile had a negative net margin of 7,213.90% and a negative return on equity of 26.81%. The business had revenue of $1.16 million during the quarter, compared to the consensus estimate of $6.37 million. Research analysts expect that AST SpaceMobile, Inc. will post -0.4 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on ASTS shares. Bank of America started coverage on shares of AST SpaceMobile in a research note on Wednesday, June 25th. They set a "neutral" rating and a $55.00 price objective on the stock. UBS Group downgraded AST SpaceMobile from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $62.00 to $43.00 in a research report on Tuesday, September 9th. B. Riley reaffirmed a "buy" rating and issued a $44.00 price objective (up from $36.00) on shares of AST SpaceMobile in a research report on Monday, June 16th. Barclays boosted their target price on AST SpaceMobile from $37.00 to $60.00 and gave the stock an "overweight" rating in a report on Wednesday, October 1st. Finally, Scotiabank dropped their price objective on shares of AST SpaceMobile from $45.40 to $42.90 and set a "sector perform" rating on the stock in a research report on Thursday, August 7th. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $45.27.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.