AST SpaceMobile, Inc. $ASTS Shares Bought by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• VIRGINIA RETIREMENT SYSTEMS ET Al boosted its AST SpaceMobile stake by 29.3% in the fourth quarter, while several other institutions also increased holdings; institutional investors now own 60.95% of the company.
• Sentiment around ASTS remains mixed: analysts’ consensus is currently "Reduce" after a recent earnings miss, and insiders have also been selling shares, including large sales by the CTO and a director.
• Despite operational concerns, AST SpaceMobile got a boost from industry developments such as FCC approval for direct-to-device service and news that major U.S. carriers are forming a satellite-to-phone venture, which investors see as validation of its market.

VIRGINIA RETIREMENT SYSTEMS ET Al grew its stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 29.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,550 shares of the company's stock after purchasing an additional 8,050 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al's holdings in AST SpaceMobile were worth $2,582,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in AST SpaceMobile by 7.9% during the fourth 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 period. Clear Street Group Inc. acquired a new position in AST SpaceMobile during the third quarter worth approximately $90,129,000. Northern Trust Corp increased its position in AST SpaceMobile by 18.1% during the third quarter. Northern Trust Corp now owns 1,104,013 shares of the company's stock worth $54,185,000 after buying an additional 168,832 shares during the period. Gotham Asset Management LLC increased its position in AST SpaceMobile by 37.8% during the third quarter. Gotham Asset Management LLC now owns 843,738 shares of the company's stock worth $41,411,000 after buying an additional 231,549 shares during the period. Finally, Van ECK Associates Corp increased its position in AST SpaceMobile by 125.1% during the third quarter. Van ECK Associates Corp now owns 782,041 shares of the company's stock worth $38,382,000 after buying an additional 434,615 shares during the period. Institutional investors and hedge funds own 60.95% of the company's stock.

Key Stories Impacting AST SpaceMobile

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

• Positive Sentiment: AST SpaceMobile welcomed the announcement that AT&T, T-Mobile and Verizon are forming a satellite-to-phone joint venture to improve coverage in dead zones. Investors see this as validation of ASTS’s direct-to-device satellite connectivity market and a potential boost to future demand. Article Title
• Positive Sentiment: New Street Research launched coverage of the space economy and included AST SpaceMobile among the stocks it is tracking, which can draw more investor attention to the name and support trading interest. Article Title
• Neutral Sentiment: Analysts’ views remain mixed, but one new report says consensus has turned to “Reduce,” reflecting caution after ASTS’s recent earnings miss and ongoing execution concerns. Article Title
• Negative Sentiment: Director Julio A. Torres sold 15,000 shares at $76.34, a move that may be viewed as insider selling and could weigh on sentiment despite the remaining stake. Article Title
• Negative Sentiment: Post-earnings commentary continues to highlight a Q1 miss, darker consensus forecasts, and execution/competition risks, which reinforces concerns about AST SpaceMobile’s near-term fundamentals. Article Title

Insider Activity

In other news, CTO Huiwen Yao sold 40,000 shares of the business's stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $88.88, for a total value of $3,555,200.00. Following the transaction, the chief technology officer owned 4,750 shares of the company's stock, valued at approximately $422,180. The trade was a 89.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Julio A. Torres sold 15,000 shares of the business's stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $76.34, for a total value of $1,145,100.00. Following the completion of the transaction, the director directly owned 43,239 shares in the company, valued at approximately $3,300,865.26. The trade was a 25.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 3,095,000 shares of company stock valued at $275,597,100. Company insiders own 20.89% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on ASTS. Roth Mkm reaffirmed a "buy" rating and set a $108.00 price target on shares of AST SpaceMobile in a research report on Tuesday. Wall Street Zen lowered AST SpaceMobile from a "sell" rating to a "strong sell" rating in a research report on Wednesday, April 15th. UBS Group cut their price target on AST SpaceMobile from $85.00 to $80.00 and set a "neutral" rating on the stock in a research report on Tuesday. Zacks Research raised AST SpaceMobile from a "strong sell" rating to a "hold" rating in a research report on Wednesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft set a $117.00 price target on AST SpaceMobile in a research report on Wednesday, April 15th. Two equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Reduce" and a consensus target price of $79.45.

AST SpaceMobile Trading Up 11.0%

NASDAQ:ASTS opened at $83.01 on Friday. The firm has a market cap of $31.71 billion, a P/E ratio of -46.63 and a beta of 2.60. The company has a current ratio of 18.47, a quick ratio of 16.27 and a debt-to-equity ratio of 1.11. The stock's 50 day simple moving average is $85.08 and its 200-day simple moving average is $82.95. AST SpaceMobile, Inc. has a 12-month low of $22.47 and a 12-month high of $129.89.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last released its earnings results on Monday, May 11th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.43). The company had revenue of $14.74 million during the quarter, compared to analyst estimates of $39.01 million. AST SpaceMobile had a negative net margin of 573.67% and a negative return on equity of 24.87%. The company's revenue for the quarter was up 1952.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.20) EPS. Equities analysts anticipate that AST SpaceMobile, Inc. will post -1.47 EPS 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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