Intech Investment Management LLC Grows Holdings in AST SpaceMobile, Inc. $ASTS

Key Points

• Intech Investment Management LLC increased its stake in AST SpaceMobile, Inc. by 36.2%, acquiring an additional 22,358 shares, bringing its total to 84,069 shares valued at approximately $1.9 million.
• CFO Andrew Martin Johnson sold 20,000 shares of AST SpaceMobile at an average price of $52.48, decreasing his ownership by 4.79% and retaining 397,485 shares valued over $20 million.
• AST SpaceMobile reported a quarterly EPS of ($0.41), missing estimates by ($0.22), with a significant negative net margin of 7,213.90% and revenues of $1.16 million for the quarter.

Intech Investment Management LLC lifted its stake in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 36.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,069 shares of the company's stock after purchasing an additional 22,358 shares during the quarter. Intech Investment Management LLC's holdings in AST SpaceMobile were worth $1,912,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of ASTS. Cetera Investment Advisers raised its position in shares of AST SpaceMobile by 122.1% in the 4th quarter. Cetera Investment Advisers now owns 86,683 shares of the company's stock worth $1,829,000 after purchasing an additional 47,647 shares during the last quarter. Deutsche Bank AG increased its holdings in AST SpaceMobile by 181.2% in the 4th quarter. Deutsche Bank AG now owns 213,203 shares of the company's stock worth $4,499,000 after buying an additional 137,392 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in AST SpaceMobile by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 76,249 shares of the company's stock worth $1,609,000 after buying an additional 2,953 shares in the last quarter. ProShare Advisors LLC increased its holdings in AST SpaceMobile by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 37,728 shares of the company's stock worth $796,000 after buying an additional 12,400 shares in the last quarter. Finally, Toronto Dominion Bank bought a new stake in AST SpaceMobile in the 4th quarter worth about $4,220,000. Hedge funds and other institutional investors own 60.95% of the company's stock.

Insider Activity at AST SpaceMobile

In related news, CFO Andrew Martin Johnson sold 20,000 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $52.48, for a total transaction of $1,049,600.00. Following the sale, the chief financial officer owned 397,485 shares in the company, valued at approximately $20,860,012.80. This represents a 4.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO Huiwen Yao sold 40,000 shares of the stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $40.58, for a total value of $1,623,200.00. Following the sale, the chief technology officer owned 4,750 shares in the company, valued at $192,755. The trade was a 89.39% decrease in their position. The disclosure for this sale can be found here. 34.15% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on ASTS. William Blair began coverage on AST SpaceMobile in a report on Thursday, August 21st. They issued a "market perform" rating for the company. Roth Capital reiterated a "buy" rating on shares of AST SpaceMobile in a report on Tuesday, August 12th. B. Riley reiterated a "buy" rating and issued a $44.00 price objective (up from $36.00) on shares of AST SpaceMobile in a report on Monday, June 16th. Bank of America began coverage on AST SpaceMobile in a report on Wednesday, June 25th. They issued a "neutral" rating and a $55.00 price objective for the company. Finally, Scotiabank reduced their price objective on AST SpaceMobile from $45.40 to $42.90 and set a "sector perform" rating for the company in a report on Thursday, August 7th. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $42.82.

AST SpaceMobile Price Performance

Shares of ASTS traded up $3.66 during mid-day trading on Friday, hitting $45.10. 20,712,043 shares of the stock were exchanged, compared to its average volume of 8,995,527. The company has a market cap of $16.17 billion, a PE ratio of -23.86 and a beta of 2.43. AST SpaceMobile, Inc. has a 52-week low of $17.50 and a 52-week high of $60.95. The firm has a 50-day moving average of $48.38 and a two-hundred day moving average of $36.44. The company has a debt-to-equity ratio of 0.42, a quick ratio of 8.23 and a current ratio of 8.23.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last issued its quarterly earnings data on Monday, August 11th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.22). The firm had revenue of $1.16 million for the quarter, compared to analysts' expectations of $6.37 million. AST SpaceMobile had a negative return on equity of 26.81% and a negative net margin of 7,213.90%. On average, equities analysts predict that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current year.

AST SpaceMobile Profile

AST SpaceMobile, Inc, together with its subsidiaries, develops and provides access to a space-based cellular broadband network for smartphones in the United States. Its SpaceMobile service provides cellular broadband services to end-users who are out of terrestrial cellular coverage. The company was founded in 2017 and is headquartered in Midland, Texas.