Allegiance Financial Group Advisory Services LLC Has $2.23 Million Stock Holdings in AST SpaceMobile, Inc. $ASTS

Key Points

• Allegiance Financial Group Advisory Services LLC increased its stake in AST SpaceMobile by 309.7% in Q4, ending the period with 30,750 shares worth about $2.23 million.
• Major shareholder Hiroshi Mikitani sold 1,690,000 shares (~$154.5M) on April 14, and insiders have sold a total of 3,080,000 shares (~$274.5M) in the last three months, though insiders still own about 30.9% of the company.
• Analysts are cautious overall — the consensus rating is "Reduce" with an average target of $82.51 — while ASTS trades with negative earnings metrics and a market cap near $27 billion.

Allegiance Financial Group Advisory Services LLC grew its position in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 309.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 30,750 shares of the company's stock after purchasing an additional 23,244 shares during the period. Allegiance Financial Group Advisory Services LLC's holdings in AST SpaceMobile were worth $2,233,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. REAP Financial Group LLC acquired a new stake in AST SpaceMobile in the third quarter worth $25,000. Crewe Advisors LLC acquired a new stake in shares of AST SpaceMobile during the fourth quarter worth $25,000. Laurel Wealth Advisors LLC acquired a new stake in shares of AST SpaceMobile during the fourth quarter worth $25,000. Byrne Asset Management LLC acquired a new stake in shares of AST SpaceMobile during the fourth quarter worth $29,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of AST SpaceMobile during the third quarter worth $29,000. 60.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at AST SpaceMobile

In other news, major shareholder Hiroshi Mikitani sold 1,690,000 shares of AST SpaceMobile stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $91.42, for a total value of $154,499,800.00. Following the completion of the transaction, the insider owned 29,330,155 shares of the company's stock, valued at $2,681,362,770.10. This trade represents a 5.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Huiwen Yao sold 40,000 shares of AST SpaceMobile stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $88.88, for a total transaction of $3,555,200.00. Following the completion of the transaction, the chief technology officer directly owned 4,750 shares of the company's stock, valued at approximately $422,180. This trade represents a 89.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 3,080,000 shares of company stock valued at $274,452,000. Insiders own 30.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ASTS shares. Deutsche Bank Aktiengesellschaft set a $117.00 price objective on shares of AST SpaceMobile in a report on Wednesday, April 15th. Scotiabank lowered shares of AST SpaceMobile from a "sector perform" rating to a "sector underperform" rating and set a $45.60 price objective on the stock. in a report on Wednesday, January 7th. UBS Group raised their price objective on shares of AST SpaceMobile from $43.00 to $85.00 and gave the stock a "neutral" rating in a report on Wednesday, March 4th. Wall Street Zen lowered shares of AST SpaceMobile from a "sell" rating to a "strong sell" rating in a report on Wednesday, April 15th. Finally, New Street Research set a $115.00 price objective on shares of AST SpaceMobile in a report on Monday, April 20th. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average target price of $82.51.

AST SpaceMobile Stock Up 10.7%

AST SpaceMobile stock opened at $70.68 on Thursday. The company has a market cap of $27.00 billion, a P/E ratio of -53.55 and a beta of 2.60. AST SpaceMobile, Inc. has a 1-year low of $22.47 and a 1-year high of $129.89. The company has a fifty day simple moving average of $86.26 and a 200 day simple moving average of $83.01. The company has a current ratio of 16.35, a quick ratio of 16.27 and a debt-to-equity ratio of 0.92.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last announced its quarterly earnings data on Monday, March 2nd. The company reported ($0.26) EPS for the quarter, missing analysts' consensus estimates of ($0.18) by ($0.08). AST SpaceMobile had a negative net margin of 482.16% and a negative return on equity of 23.02%. The firm had revenue of $54.31 million during the quarter, compared to the consensus estimate of $39.53 million. AST SpaceMobile's revenue was up 2731.3% on a year-over-year basis. Research analysts anticipate that AST SpaceMobile, Inc. will post -0.99 earnings per share for the current fiscal 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.

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