AST SpaceMobile, Inc. $ASTS Shares Sold by PAX Financial Group LLC

Key Points

• PAX Financial Group LLC cut its AST SpaceMobile stake by 60.7% in the fourth quarter, selling 9,850 shares and ending with 6,383 shares valued at about $464,000.
• Despite some institutional buying, analyst sentiment remains cautious: the stock carries a consensus “Reduce” rating, with multiple firms maintaining mixed buy, hold, and sell calls.
• Recent fundamentals and insider activity are under pressure, as AST SpaceMobile missed quarterly EPS and revenue estimates, while director Julio A. Torres and major shareholder Hiroshi Mikitani both sold shares recently.

PAX Financial Group LLC lessened its stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 60.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,383 shares of the company's stock after selling 9,850 shares during the quarter. PAX Financial Group LLC's holdings in AST SpaceMobile were worth $464,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Crewe Advisors LLC acquired a new position in shares of AST SpaceMobile during the fourth quarter valued at approximately $25,000. Laurel Wealth Advisors LLC acquired a new position in shares of AST SpaceMobile during the fourth quarter valued at approximately $25,000. Byrne Asset Management LLC acquired a new position in shares of AST SpaceMobile during the fourth quarter valued at approximately $29,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of AST SpaceMobile during the fourth quarter valued at approximately $33,000. Finally, REAP Financial Group LLC acquired a new position in shares of AST SpaceMobile during the third quarter valued at approximately $25,000. Institutional investors and hedge funds own 60.95% of the company's stock.

Key AST SpaceMobile News

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 Analysts Forecast Growth

A number of research analysts recently commented on ASTS shares. Wall Street Zen lowered shares of AST SpaceMobile from a "sell" rating to a "strong sell" rating in a research note on Wednesday, April 15th. Roth Mkm restated a "buy" rating and issued a $108.00 price target on shares of AST SpaceMobile in a research report on Tuesday. Weiss Ratings restated a "sell (d-)" rating on shares of AST SpaceMobile in a research report on Friday, March 27th. Deutsche Bank Aktiengesellschaft set a $117.00 price target on shares of AST SpaceMobile in a research report on Wednesday, April 15th. Finally, UBS Group decreased their price target on shares of AST SpaceMobile from $85.00 to $80.00 and set a "neutral" rating on the stock in a research report on Tuesday. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, AST SpaceMobile has a consensus rating of "Reduce" and a consensus price target of $79.45.

Insider Buying and Selling

In related news, Director Julio A. Torres sold 15,000 shares of the firm'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 owned 43,239 shares of the company's stock, valued at approximately $3,300,865.26. This trade represents a 25.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Hiroshi Mikitani sold 1,690,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $91.42, for a total transaction of $154,499,800.00. Following the completion of the transaction, the insider directly owned 29,330,155 shares of the company's stock, valued at $2,681,362,770.10. This represents a 5.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 3,095,000 shares of company stock valued at $275,597,100. Company insiders own 20.89% of the company's stock.

AST SpaceMobile Trading Up 0.8%

AST SpaceMobile stock opened at $83.67 on Friday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 16.27 and a current ratio of 18.47. The firm has a market cap of $31.96 billion, a price-to-earnings ratio of -47.01 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 firm's 50 day moving average price is $84.65 and its two-hundred day moving average price is $82.96.

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

AST SpaceMobile 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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