Calamos Wealth Management LLC Makes New Investment in AST SpaceMobile, Inc. $ASTS

Key Points

• Calamos Wealth Management disclosed a new first-quarter stake in AST SpaceMobile, buying 37,286 shares valued at about $3.09 million.
• AST SpaceMobile stock was down 7.8% in Tuesday trading, with shares opening at $67.58; the stock has traded between $36.08 and $133.86 over the past year.
• The company recently reported a wider-than-expected quarterly loss of $0.66 per share and revenue of $14.73 million, while analysts currently hold a Reduce consensus rating with an average price target of $85.09.

Calamos Wealth Management LLC bought a new stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 37,286 shares of the company's stock, valued at approximately $3,090,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Calton & Associates Inc. raised its holdings in shares of AST SpaceMobile by 0.8% during the fourth quarter. Calton & Associates Inc. now owns 13,579 shares of the company's stock worth $986,000 after acquiring an additional 104 shares in the last quarter. Investmark Advisory Group LLC grew its stake in AST SpaceMobile by 2.7% in the fourth quarter. Investmark Advisory Group LLC now owns 4,645 shares of the company's stock valued at $337,000 after purchasing an additional 120 shares in the last quarter. ORG Partners LLC grew its stake in AST SpaceMobile by 4.2% in the fourth quarter. ORG Partners LLC now owns 3,283 shares of the company's stock valued at $238,000 after purchasing an additional 133 shares in the last quarter. Atlantic Union Bankshares Corp increased its position in AST SpaceMobile by 18.2% in the 4th quarter. Atlantic Union Bankshares Corp now owns 923 shares of the company's stock worth $67,000 after purchasing an additional 142 shares during the last quarter. Finally, Larson Financial Group LLC increased its position in AST SpaceMobile by 39.0% in the 4th quarter. Larson Financial Group LLC now owns 513 shares of the company's stock worth $37,000 after purchasing an additional 144 shares during the last quarter. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

AST SpaceMobile Trading Down 7.8%

AST SpaceMobile stock opened at $67.58 on Tuesday. AST SpaceMobile, Inc. has a one year low of $36.08 and a one year high of $133.86. The company's fifty day moving average price is $87.31 and its two-hundred day moving average price is $89.59. 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 market capitalization of $26.23 billion, a price-to-earnings ratio of -37.97 and a beta of 2.69.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.66) earnings per share for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.43). The company had revenue of $14.73 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%.AST SpaceMobile's quarterly revenue was up 1952.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.20) EPS. On average, analysts forecast that AST SpaceMobile, Inc. will post -1.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Andrew Martin Johnson sold 45,809 shares of the business's stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $93.81, for a total value of $4,297,342.29. Following the completion of the sale, the chief financial officer directly owned 503,619 shares in the company, valued at approximately $47,244,498.39. The trade was a 8.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Huiwen Yao sold 40,000 shares of the company's stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $96.37, for a total value of $3,854,800.00. Following the sale, the chief technology officer directly owned 34,750 shares of the company's stock, valued at $3,348,857.50. The trade was a 53.51% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,455,809 shares of company stock valued at $126,145,492 over the last 90 days. 20.89% of the stock is currently owned by insiders.

Analyst Ratings Changes

ASTS has been the subject of a number of recent research reports. New Street Research set a $106.00 price target on AST SpaceMobile in a research note on Friday, May 29th. William Blair reissued a "market perform" rating on shares of AST SpaceMobile in a research note on Friday, May 29th. Deutsche Bank Aktiengesellschaft downgraded AST SpaceMobile from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $117.00 to $106.00 in a report on Friday, May 29th. Barclays raised their price objective on shares of AST SpaceMobile from $60.00 to $65.00 and gave the company an "underweight" rating in a research report on Thursday, April 9th. Finally, Roth Capital reiterated a "buy" rating and issued a $108.00 target price on shares of AST SpaceMobile in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, AST SpaceMobile has a consensus rating of "Reduce" and an average price target of $85.09.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.