CIBC Asset Management Inc Makes New $677,000 Investment in AST SpaceMobile, Inc. $ASTS

CIBC Asset Management Inc acquired a new position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 9,320 shares of the company's stock, valued at approximately $677,000.

A number of other large investors have also made changes to their positions in the stock. Cravens & Co Advisors LLC purchased a new stake in shares of AST SpaceMobile in the fourth quarter valued at approximately $175,000. Bank of New York Mellon Corp lifted its stake in AST SpaceMobile by 10.6% during the fourth quarter. Bank of New York Mellon Corp now owns 689,095 shares of the company's stock worth $50,049,000 after purchasing an additional 66,080 shares in the last quarter. Calton & Associates Inc. lifted its stake in 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 purchasing an additional 104 shares in the last quarter. AXQ Capital LP lifted its stake in AST SpaceMobile by 48.6% during the fourth quarter. AXQ Capital LP now owns 13,419 shares of the company's stock worth $975,000 after purchasing an additional 4,391 shares in the last quarter. Finally, Florida Financial Advisors LLC raised its stake in shares of AST SpaceMobile by 19.4% in the fourth quarter. Florida Financial Advisors LLC now owns 14,420 shares of the company's stock valued at $1,046,000 after acquiring an additional 2,339 shares in the last quarter. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

More AST SpaceMobile News

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

• Positive Sentiment: AST SpaceMobile confirmed a June 17 launch for its next three BlueBird satellites (8, 9, and 10), a key operational milestone that could help reinforce the company’s 2026 deployment goals. AST SpaceMobile Announces Launch Date for BlueBird Satellites 8, 9, and 10
• Positive Sentiment: The BlueBird launch update also suggests the company is making tangible progress on its space-based cellular network, which investors often view as a catalyst for future commercial adoption and revenue growth. AST SpaceMobile sets June 17 launch for BlueBird 8, 9, and 10 satellites
• Neutral Sentiment: Several stories highlighted growing interest around the broader satellite and space connectivity market, including comparisons with SpaceX/Starlink and comments that AST SpaceMobile remains a volatile space-stock name. AST SpaceMobile's stock experiences rocky trading as SpaceX plans to launch its satellites into orbit
• Neutral Sentiment: Broad-market weakness in AI and chip stocks also weighed on risk appetite, which can spill over into high-beta names like ASTS. S&P 500, Nasdaq End Lower As Investors Take Breather From AI And Chips — AAPL, ASTS, APLD, RIVN, ZVRA In Focus
• Negative Sentiment: Bearish analyst coverage remains a headwind: Barclays reiterated a sell view, and consensus brokerage sentiment on AST SpaceMobile continues to skew to Reduce. Barclays Sticks to Its Sell Rating for AST SpaceMobile (ASTS)
• Negative Sentiment: Recent insider selling by CTO Huiwen Yao added to investor caution, even though the sale was made under a pre-arranged trading plan. Insider Selling: AST SpaceMobile NASDAQ: ASTS CTO Sells 40,000 Shares of Stock

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ASTS shares. UBS Group reduced their price objective on AST SpaceMobile from $85.00 to $80.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 12th. Zacks Research upgraded AST SpaceMobile from a "strong sell" rating to a "hold" rating in a research note on Wednesday, March 4th. Roth Mkm reiterated a "buy" rating and issued a $108.00 price objective on shares of AST SpaceMobile in a research note on Tuesday, May 12th. Deutsche Bank Aktiengesellschaft cut AST SpaceMobile from a "buy" rating to a "hold" rating and reduced their price objective for the company from $117.00 to $106.00 in a research note on Friday, May 29th. Finally, Barclays increased their price objective on AST SpaceMobile from $60.00 to $65.00 and gave the company an "underweight" rating in a research note on Thursday, April 9th. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, AST SpaceMobile has an average rating of "Reduce" and an average price target of $81.33.

Insider Transactions at AST SpaceMobile

In other AST SpaceMobile news, major shareholder Hiroshi Mikitani sold 1,690,000 shares of the firm's stock in a transaction dated 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 transaction, the insider owned 29,330,155 shares of the company's stock, valued at approximately $2,681,362,770.10. This trade represents a 5.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Julio A. Torres sold 15,000 shares of the firm's stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $76.34, for a total value of $1,145,100.00. Following 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 SEC filing for this sale provides additional information. In the last ninety days, insiders sold 3,140,000 shares of company stock worth $279,903,150. 20.89% of the stock is owned by company insiders.

AST SpaceMobile Stock Performance

NASDAQ:ASTS opened at $88.71 on Wednesday. The firm has a market capitalization of $34.43 billion, a PE ratio of -49.84 and a beta of 2.70. The business's fifty day moving average price is $89.89 and its 200 day moving average price is $87.38. The company has a debt-to-equity ratio of 1.11, a current ratio of 18.47 and a quick ratio of 18.37. AST SpaceMobile, Inc. has a 12 month low of $34.21 and a 12 month high of $133.86.

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