J.W. Cole Advisors Inc. Purchases 5,028 Shares of AST SpaceMobile, Inc. $ASTS

Key Points

• J.W. Cole Advisors boosted its position in AST SpaceMobile by 44.6%, buying 5,028 shares to hold 16,311 shares worth about $762,000 at the end of the quarter.
• AST SpaceMobile posted a Q3 EPS miss of -$0.45 versus -$0.18 expected and revenue of $14.74M versus $22.04M expected, leaving the company with a very negative net margin and continued losses.
• Insiders were active: the CFO sold 10,000 shares at roughly $56 each while Director Adriana Cisneros purchased 750 shares; analyst coverage is mixed and the consensus rating is a Hold with a $45.66 price target.

J.W. Cole Advisors Inc. lifted its position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 44.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,311 shares of the company's stock after purchasing an additional 5,028 shares during the period. J.W. Cole Advisors Inc.'s holdings in AST SpaceMobile were worth $762,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Atlantic Union Bankshares Corp acquired a new position in shares of AST SpaceMobile during the 2nd quarter worth approximately $28,000. Spire Wealth Management bought a new position in AST SpaceMobile during the second quarter worth $45,000. New Age Alpha Advisors LLC acquired a new position in shares of AST SpaceMobile in the first quarter valued at $50,000. CWM LLC raised its position in shares of AST SpaceMobile by 77.9% in the second quarter. CWM LLC now owns 1,350 shares of the company's stock valued at $63,000 after purchasing an additional 591 shares during the period. Finally, Tsfg LLC raised its position in shares of AST SpaceMobile by 37.0% in the second quarter. Tsfg LLC now owns 1,370 shares of the company's stock valued at $64,000 after purchasing an additional 370 shares during the period. 60.95% of the stock is currently owned by institutional investors and hedge funds.

AST SpaceMobile Price Performance

AST SpaceMobile stock opened at $56.52 on Monday. The firm has a market cap of $20.74 billion, a PE ratio of -45.58 and a beta of 2.77. The company has a debt-to-equity ratio of 0.43, a current ratio of 9.56 and a quick ratio of 9.48. The stock's fifty day moving average price is $67.84 and its two-hundred day moving average price is $51.77. AST SpaceMobile, Inc. has a one year low of $17.50 and a one year high of $102.79.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last released its earnings results on Monday, November 10th. The company reported ($0.45) earnings per share for the quarter, missing analysts' consensus estimates of ($0.18) by ($0.27). AST SpaceMobile had a negative net margin of 1,639.59% and a negative return on equity of 27.76%. The company had revenue of $14.74 million for the quarter, compared to the consensus estimate of $22.04 million. During the same quarter in the previous year, the company posted ($1.10) earnings per share. The business's revenue was up 1236.4% compared to the same quarter last year. As a group, research analysts expect that AST SpaceMobile, Inc. will post -0.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Andrew Martin Johnson sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $56.00, for a total transaction of $560,000.00. Following the completion of the sale, the chief financial officer owned 387,485 shares of the company's stock, valued at approximately $21,699,160. This represents a 2.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Adriana Cisneros acquired 750 shares of the firm's stock in a transaction that occurred on Thursday, November 20th. The stock was purchased at an average cost of $50.79 per share, for a total transaction of $38,092.50. Following the completion of the purchase, the director directly owned 784,077 shares of the company's stock, valued at $39,823,270.83. The trade was a 0.10% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 30.90% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Barclays downgraded shares of AST SpaceMobile from an "overweight" rating to an "underweight" rating and set a $60.00 target price for the company. in a report on Friday, October 17th. Roth Capital restated a "buy" rating on shares of AST SpaceMobile in a report on Tuesday, August 12th. Zacks Research downgraded AST SpaceMobile from a "hold" rating to a "strong sell" rating in a research report on Tuesday, October 21st. Weiss Ratings reiterated a "sell (e+)" rating on shares of AST SpaceMobile in a research note on Monday, November 24th. Finally, UBS Group downgraded AST SpaceMobile from a "buy" rating to a "neutral" rating and reduced their price target for the company from $62.00 to $43.00 in a research note on Tuesday, September 9th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, AST SpaceMobile currently has an average rating of "Hold" and a consensus price target of $45.66.

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.

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