AST SpaceMobile, Inc. $ASTS Shares Sold by DNB Asset Management AS

Key Points

• DNB Asset Management AS cut its stake in AST SpaceMobile by 31.4% in the fourth quarter, selling 85,544 shares and leaving it with 187,125 shares worth about $13.6 million.
• Insider selling has also been notable: major shareholder Hiroshi Mikitani sold 1.35 million shares, and director Julio A. Torres sold 15,000 shares, with insiders selling a total of 3.095 million shares over the last 90 days.
• Despite recent negative earnings results and a cautious “Reduce” consensus rating from analysts, AST SpaceMobile is drawing attention from positive industry developments, including carrier plans for satellite-to-phone connectivity that could validate its business model.

DNB Asset Management AS decreased its stake in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 31.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 187,125 shares of the company's stock after selling 85,544 shares during the period. DNB Asset Management AS owned approximately 0.05% of AST SpaceMobile worth $13,591,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ASTS. REAP Financial Group LLC acquired a new stake in shares of AST SpaceMobile in the third quarter valued at about $25,000. Crewe Advisors LLC acquired a new stake in shares of AST SpaceMobile in the fourth quarter valued at about $25,000. Laurel Wealth Advisors LLC acquired a new stake in shares of AST SpaceMobile in the fourth quarter valued at about $25,000. Byrne Asset Management LLC acquired a new stake in shares of AST SpaceMobile in the fourth quarter valued at about $29,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of AST SpaceMobile in the third quarter valued at about $29,000. Institutional investors and hedge funds own 60.95% of the company's stock.

Insider Transactions at AST SpaceMobile

In related news, major shareholder Hiroshi Mikitani sold 1,350,000 shares of the business's stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $86.22, for a total value of $116,397,000.00. Following the completion of the sale, the insider directly owned 27,980,155 shares in the company, valued at approximately $2,412,448,964.10. The trade was a 4.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $1,145,100.00. Following the completion of the sale, the director owned 43,239 shares of the company's stock, valued at approximately $3,300,865.26. The trade was a 25.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,095,000 shares of company stock worth $275,597,100 over the last ninety days. 20.89% of the stock is currently owned by corporate insiders.

Trending Headlines about AST SpaceMobile

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

• Positive Sentiment: AT&T, Verizon and T-Mobile announced a satellite-to-phone joint venture to extend coverage in dead zones, which investors may see as validation of AST SpaceMobile’s direct-to-device business model and a sign of growing demand for space-based mobile connectivity. Article Title
• Positive Sentiment: AST SpaceMobile publicly welcomed the carriers’ joint venture, reinforcing the idea that its space-based cellular network could become an important part of future mobile coverage efforts. Article Title
• Positive Sentiment: New Street Research launched a new space-economy coverage group and included ASTS on its initial list, which can increase investor attention and trading interest in the stock. Article Title
• Neutral Sentiment: Analyst opinion remains cautious overall, with a reported consensus rating of “Reduce,” reflecting mixed views on AST SpaceMobile’s execution and valuation. Article Title
• Negative Sentiment: Director Julio A. Torres sold 15,000 shares, a move that can weigh on sentiment because insider selling sometimes signals reduced confidence, even though he still holds a meaningful stake. Article Title
• Negative Sentiment: Recent post-earnings coverage continues to highlight ASTS’s Q1 miss, weaker forecasts, and execution risks, which may limit upside despite the positive carrier news. Article Title

Wall Street Analyst Weigh In

Several research firms have weighed in on ASTS. Roth Mkm restated a "buy" rating and set a $108.00 target price on shares of AST SpaceMobile in a report on Tuesday, May 12th. Zacks Research upgraded shares of AST SpaceMobile from a "strong sell" rating to a "hold" rating in a report on Wednesday, March 4th. Deutsche Bank Aktiengesellschaft set a $117.00 target price on shares of AST SpaceMobile in a report on Wednesday, April 15th. Barclays raised their target price on shares of AST SpaceMobile from $60.00 to $65.00 and gave the company an "underweight" rating in a report on Thursday, April 9th. Finally, New Street Research began coverage on shares of AST SpaceMobile in a report on Wednesday. They set a "neutral" rating and a $80.00 target price for the company. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus price target of $79.45.

AST SpaceMobile Stock Performance

Shares of NASDAQ ASTS opened at $83.67 on Monday. The company has a market cap of $31.96 billion, a PE ratio of -47.01 and a beta of 2.60. AST SpaceMobile, Inc. has a 12 month low of $22.47 and a 12 month high of $129.89. The company has a debt-to-equity ratio of 1.11, a current ratio of 18.47 and a quick ratio of 18.37. The company has a 50-day simple moving average of $84.65 and a 200-day simple moving average of $82.98.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.66) EPS for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.43). The firm had revenue of $14.74 million for the quarter, compared to analysts' expectations of $39.01 million. AST SpaceMobile had a negative return on equity of 24.87% and a negative net margin of 573.67%.The business's quarterly revenue was up 1952.2% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.20) earnings per share. On average, equities analysts anticipate that AST SpaceMobile, Inc. will post -1.47 earnings per share for the current 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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