Corient Private Wealth LLC Has $1.21 Million Stock Holdings in AST SpaceMobile, Inc. $ASTS

Key Points

• Corient Private Wealth LLC increased its AST SpaceMobile stake by 128.5% in the fourth quarter, ending with 16,939 shares valued at about $1.21 million.
• Institutional interest in AST SpaceMobile appears strong overall, with several other funds also boosting or initiating positions and institutional investors now owning 60.95% of the stock.
• AST SpaceMobile recently posted weaker-than-expected quarterly results, missing on both earnings and revenue, even as revenue surged sharply year over year; analysts currently have a Reduce consensus rating on the stock.

Corient Private Wealth LLC raised its position in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 128.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 16,939 shares of the company's stock after buying an additional 9,526 shares during the period. Corient Private Wealth LLC's holdings in AST SpaceMobile were worth $1,210,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Focus Partners Wealth boosted its position in shares of AST SpaceMobile by 8,016.7% in the 4th quarter. Focus Partners Wealth now owns 1,269,609 shares of the company's stock worth $92,000,000 after purchasing an additional 1,253,967 shares during the last quarter. KPP Advisory Services LLC acquired a new position in AST SpaceMobile in the fourth quarter valued at about $1,649,000. M&T Bank Corp increased its holdings 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 worth $5,665,000 after acquiring an additional 71,287 shares in the last quarter. Arrowpoint Investment Partners Singapore Pte. Ltd. bought a new stake in shares of AST SpaceMobile in the fourth quarter worth about $2,290,000. Finally, Legal & General Group Plc raised its position in shares of AST SpaceMobile by 26.2% during the fourth quarter. Legal & General Group Plc now owns 232,436 shares of the company's stock worth $16,882,000 after purchasing an additional 48,318 shares during the period. 60.95% of the stock is currently owned by institutional investors.

AST SpaceMobile Price Performance

NASDAQ:ASTS opened at $86.10 on Thursday. AST SpaceMobile, Inc. has a 52-week low of $36.08 and a 52-week high of $133.86. The company has a market cap of $33.42 billion, a P/E ratio of -48.37 and a beta of 2.69. The company has a debt-to-equity ratio of 1.11, a quick ratio of 18.37 and a current ratio of 18.47. The stock's 50-day simple moving average is $87.26 and its 200 day simple moving average is $89.41.

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 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 the consensus estimate of $39.01 million. AST SpaceMobile had a negative net margin of 573.67% and a negative return on equity of 24.87%. The firm's revenue for the quarter was up 1952.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.20) earnings per share. As a group, sell-side analysts forecast that AST SpaceMobile, Inc. will post -1.47 EPS for the current fiscal year.

Trending Headlines about AST SpaceMobile

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

• Positive Sentiment: Japan is reportedly preparing about 150 billion yen, or roughly $926 million, in subsidies for a Rakuten Group-led consortium working with AST SpaceMobile to build a direct-to-mobile satellite network in Japan, a major validation of ASTS’s technology and a potential source of meaningful revenue. Article Title
• Positive Sentiment: AST SpaceMobile rose sharply after reports that it is partnering with Rakuten on a Japanese satellite communications project, reinforcing investor confidence that the company is moving closer to commercialization. Article Title
• Positive Sentiment: The broader space sector also got a lift from Rocket Lab’s Iridium deal, which may have helped increase investor appetite for satellite and space communications names like ASTS.
• Neutral Sentiment: Market commentary highlighted AST SpaceMobile as a high-beta momentum name with a large cash runway, but this was more opinion-driven than a new company-specific event. AST SpaceMobile stock page

Insider Activity

In other AST SpaceMobile news, major shareholder Hiroshi Mikitani sold 1,350,000 shares of the stock in a transaction 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 owned 27,980,155 shares in the company, valued at $2,412,448,964.10. This trade represents a 4.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Huiwen Yao sold 40,000 shares of AST SpaceMobile stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $96.37, for a total transaction of $3,854,800.00. Following the completion of the transaction, the chief technology officer directly owned 34,750 shares of the company's stock, valued at approximately $3,348,857.50. This trade represents a 53.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 3,145,809 shares of company stock valued at $280,645,292. 20.89% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on ASTS. William Blair reissued a "market perform" rating on shares of AST SpaceMobile in a research note on Friday, May 29th. B. Riley Financial lifted their price target on shares of AST SpaceMobile from $75.00 to $85.00 and gave the company a "neutral" rating in a research note on Tuesday, May 12th. UBS Group reduced their price target on shares of AST SpaceMobile from $85.00 to $80.00 and set a "neutral" rating for the company in a report on Tuesday, May 12th. Barclays upped their price target 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, Deutsche Bank Aktiengesellschaft lowered shares of 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. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus price target of $85.09.

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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