Castle Rock Wealth Management LLC Buys Shares of 16,015 AST SpaceMobile, Inc. $ASTS

Key Points

• Castle Rock Wealth Management purchased 16,015 AST SpaceMobile shares worth approximately $1.38 million, while institutional investors collectively own 60.95% of the company.
• AST SpaceMobile’s latest quarter fell short of expectations, with a $0.66 loss per share versus the projected $0.23 loss and revenue of $14.73 million versus estimates of $39.01 million. The stock opened at $67.36, well below its 50-day and 200-day moving averages.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an $87.60 price target; meanwhile, insiders have sold 105,809 shares worth roughly $9.75 million over the past 90 days.

Castle Rock Wealth Management LLC purchased a new position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 16,015 shares of the company's stock, valued at approximately $1,379,000.

A number of other hedge funds also recently modified their holdings of ASTS. Focus Partners Wealth lifted its holdings in AST SpaceMobile by 8,016.7% during the fourth quarter. Focus Partners Wealth now owns 1,269,609 shares of the company's stock valued at $92,000,000 after purchasing an additional 1,253,967 shares during the last quarter. KPP Advisory Services LLC bought a new stake in shares of AST SpaceMobile in the fourth quarter valued at approximately $1,649,000. M&T Bank Corp raised its position in shares of AST SpaceMobile by 1,062.9% in the fourth quarter. M&T Bank Corp now owns 77,994 shares of the company's stock valued at $5,665,000 after purchasing an additional 71,287 shares during the period. ABN Amro Investment Solutions purchased a new stake in shares of AST SpaceMobile during the 1st quarter valued at approximately $996,000. Finally, Arrowpoint Investment Partners Singapore Pte. Ltd. purchased a new stake in shares of AST SpaceMobile during the 4th quarter valued at approximately $2,290,000. Institutional investors own 60.95% of the company's stock.

AST SpaceMobile Trading Down 1.5%

NASDAQ ASTS opened at $67.36 on Friday. The stock's 50-day simple moving average is $76.79 and its two-hundred day simple moving average is $86.31. AST SpaceMobile, Inc. has a twelve month low of $36.08 and a twelve month high of $133.86. The company has a quick ratio of 18.37, a current ratio of 18.47 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $26.14 billion, a price-to-earnings ratio of -37.84 and a beta of 2.75.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $14.73 million during 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%.AST SpaceMobile's revenue for the quarter was up 1952.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.20) earnings per share. Research analysts forecast that AST SpaceMobile, Inc. will post -1.38 EPS for the current fiscal year.

AST SpaceMobile News Summary

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

• Positive Sentiment: Japan approval expands the addressable market. AST SpaceMobile secured regulatory approval to provide direct-to-cell satellite services in Japan with Rakuten Mobile. The partnership could support future connectivity revenue in a major, mobile-heavy market and validates the company’s commercial rollout strategy. AST SpaceMobile Secures Japan Direct To Cell Approval
• Positive Sentiment: European network integration is progressing. Testing is underway with Vodafone, Deutsche Telekom, Orange, and other mobile operators across the U.K., Ireland, Romania, France, Germany, Spain, the Czech Republic, and Ukraine. These relationships improve the company’s prospects for launching service across Europe. AST SpaceMobile Accelerates Presence Across Europe
• Positive Sentiment: Satellite deployment remains on schedule. The successful launch of BlueBird satellites 11, 12, and 13 increases network capacity and supports AST SpaceMobile’s plan to begin beta services later this year. AST SpaceMobile Announces Successful Orbital Launch
• Neutral Sentiment: Sector momentum is providing some support. Space-related stocks rallied after SpaceX’s lockup expiration failed to produce the expected selling pressure, helping lift satellite peers including ASTS. However, this is broader industry sentiment rather than an AST SpaceMobile-specific catalyst. Space Stocks Rally After SpaceX Lockup Expiration
• Negative Sentiment: Earnings uncertainty and valuation are weighing on the shares. AST SpaceMobile is scheduled to report second-quarter results after the close on Aug. 10. Investors are likely focused on cash usage, losses, revenue conversion, and the timing of commercial service. Recent analysis also notes that the stock’s substantial long-term gains and ambitious growth expectations leave limited room for execution disappointments. AST SpaceMobile Earnings Preview

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ASTS shares. William Blair reaffirmed a "market perform" rating on shares of AST SpaceMobile in a report on Friday, May 29th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of AST SpaceMobile in a report on Wednesday, June 24th. New Street Research set a $106.00 price target on AST SpaceMobile in a research report on Friday, May 29th. Piper Sandler began coverage on AST SpaceMobile in a research note on Wednesday, July 15th. They set an "overweight" rating and a $100.00 price objective on the stock. Finally, Wall Street Zen cut AST SpaceMobile from a "sell" rating to a "strong sell" rating in a report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $87.60.

Insiders Place Their Bets

In related news, CFO Andrew Martin Johnson sold 45,809 shares of the stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $93.81, for a total transaction of $4,297,342.29. Following the transaction, the chief financial officer owned 503,619 shares of the company's stock, valued at approximately $47,244,498.39. This trade represents a 8.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Julio A. Torres sold 15,000 shares of AST SpaceMobile stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $76.34, for a total transaction of $1,145,100.00. Following the completion of the transaction, the director 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 SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 105,809 shares of company stock valued at $9,748,492. 20.89% of the stock is currently owned by corporate insiders.

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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