PAX Financial Group LLC Buys New Position in AST SpaceMobile, Inc. $ASTS

Key Points

• PAX Financial Group opened a new position in AST SpaceMobile (NASDAQ:ASTS), buying 17,588 shares (~$822,000) in Q2 as institutional investors now own about 60.95% of the company.
• Large insider sales occurred recently: CFO Andrew Martin Johnson sold 20,000 shares at $52.48 and CTO Huiwen Yao sold 40,000 shares at $40.58, leaving insiders with roughly 30.90% ownership.
• Q3 earnings missed expectations: AST reported ($0.45) EPS vs. a ($0.18) estimate and $14.74M revenue vs. $22.04M expected, with steep negative margins and an average analyst rating of “Reduce” (avg. price target $45.27).

PAX Financial Group LLC purchased a new position in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 17,588 shares of the company's stock, valued at approximately $822,000.

Several other large investors also recently bought and sold shares of ASTS. Flagship Private Wealth LLC lifted its position in shares of AST SpaceMobile by 2.8% during the second quarter. Flagship Private Wealth LLC now owns 9,106 shares of the company's stock worth $426,000 after purchasing an additional 250 shares in the last quarter. SBI Securities Co. Ltd. lifted its holdings in AST SpaceMobile by 0.5% in the 2nd quarter. SBI Securities Co. Ltd. now owns 56,619 shares of the company's stock worth $2,646,000 after buying an additional 268 shares in the last quarter. Signaturefd LLC boosted its position in AST SpaceMobile by 25.2% in the 2nd quarter. Signaturefd LLC now owns 1,826 shares of the company's stock valued at $85,000 after buying an additional 367 shares during the last quarter. Tsfg LLC grew its stake in shares of AST SpaceMobile by 37.0% during the second quarter. Tsfg LLC now owns 1,370 shares of the company's stock valued at $64,000 after acquiring an additional 370 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of AST SpaceMobile by 2.4% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 16,641 shares of the company's stock worth $759,000 after acquiring an additional 392 shares during the last quarter. Institutional investors and hedge funds own 60.95% of the company's stock.

Insider Transactions at AST SpaceMobile

In related news, CFO Andrew Martin Johnson sold 20,000 shares of the stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $52.48, for a total value of $1,049,600.00. Following the sale, the chief financial officer owned 397,485 shares of the company's stock, valued at $20,860,012.80. This trade represents a 4.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Huiwen Yao sold 40,000 shares of the company's stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $40.58, for a total transaction of $1,623,200.00. Following the completion of the transaction, the chief technology officer owned 4,750 shares of the company's stock, valued at approximately $192,755. This trade represents a 89.39% decrease in their position. The SEC filing for this sale provides additional information. 30.90% of the stock is owned by company insiders.

AST SpaceMobile Trading Down 0.1%

Shares of NASDAQ ASTS opened at $61.40 on Monday. The company has a market cap of $22.01 billion, a price-to-earnings ratio of -49.52 and a beta of 2.46. AST SpaceMobile, Inc. has a 12-month low of $17.50 and a 12-month high of $102.79. The company has a current ratio of 9.56, a quick ratio of 9.48 and a debt-to-equity ratio of 0.43. The stock's 50 day simple moving average is $64.81 and its 200 day simple moving average is $49.68.

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

Analyst Ratings Changes

A number of brokerages recently commented on ASTS. Barclays downgraded AST SpaceMobile from an "overweight" rating to an "underweight" rating and set a $60.00 price target for the company. in a report on Friday, October 17th. Weiss Ratings reiterated a "sell (d-)" rating on shares of AST SpaceMobile in a research note on Wednesday, October 8th. William Blair began coverage on shares of AST SpaceMobile in a research report on Thursday, August 21st. They set a "market perform" rating for the company. Roth Capital reaffirmed a "buy" rating on shares of AST SpaceMobile in a report on Tuesday, August 12th. Finally, UBS Group lowered shares of AST SpaceMobile from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $62.00 to $43.00 in a report on Tuesday, September 9th. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, AST SpaceMobile currently has an average rating of "Reduce" and an average price target of $45.27.

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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