Private Advisor Group LLC Sells 22,136 Shares of AST SpaceMobile, Inc. $ASTS

Key Points

• Private Advisor Group LLC cut its AST SpaceMobile stake by 62.8% in the first quarter, selling 22,136 shares and leaving it with 13,131 shares valued at about $1.09 million.
• AST SpaceMobile shares were down 7.8% on Tuesday, with the stock opening at $67.58; the company now has a market cap of $26.23 billion and a 1-year trading range of $36.08 to $133.86.
• The company recently missed earnings expectations, reporting a Q1 loss of $0.66 per share on revenue of $14.73 million, while analysts currently lean cautious with a consensus rating of “Reduce” and an average price target of $85.09.

Private Advisor Group LLC reduced its stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 62.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,131 shares of the company's stock after selling 22,136 shares during the period. Private Advisor Group LLC's holdings in AST SpaceMobile were worth $1,088,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Calton & Associates Inc. grew its stake in shares of AST SpaceMobile by 0.8% during the 4th quarter. Calton & Associates Inc. now owns 13,579 shares of the company's stock valued at $986,000 after acquiring an additional 104 shares during the period. Investmark Advisory Group LLC raised its stake in AST SpaceMobile by 2.7% during the 4th quarter. Investmark Advisory Group LLC now owns 4,645 shares of the company's stock worth $337,000 after acquiring an additional 120 shares during the period. ORG Partners LLC raised its stake in AST SpaceMobile by 4.2% during the 4th quarter. ORG Partners LLC now owns 3,283 shares of the company's stock worth $238,000 after acquiring an additional 133 shares during the period. Atlantic Union Bankshares Corp lifted its holdings in AST SpaceMobile by 18.2% during the fourth quarter. Atlantic Union Bankshares Corp now owns 923 shares of the company's stock valued at $67,000 after purchasing an additional 142 shares in the last quarter. Finally, Larson Financial Group LLC lifted its holdings in AST SpaceMobile by 39.0% during the fourth quarter. Larson Financial Group LLC now owns 513 shares of the company's stock valued at $37,000 after purchasing an additional 144 shares in the last quarter. 60.95% of the stock is owned by hedge funds and other institutional investors.

AST SpaceMobile Trading Down 7.8%

ASTS stock opened at $67.58 on Tuesday. 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 1-year low of $36.08 and a 1-year high of $133.86. The business has a 50 day simple moving average of $87.31 and a two-hundred day simple moving average of $89.59. The company has a market capitalization of $26.23 billion, a price-to-earnings ratio of -37.97 and a beta of 2.69.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.43). AST SpaceMobile had a negative net margin of 573.67% and a negative return on equity of 24.87%. The company had revenue of $14.73 million for the quarter, compared to the consensus estimate of $39.01 million. During the same quarter in the previous year, the business earned ($0.20) EPS. The company's quarterly revenue was up 1952.2% on a year-over-year basis. Research analysts anticipate that AST SpaceMobile, Inc. will post -1.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft cut shares of AST SpaceMobile from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $117.00 to $106.00 in a research note on Friday, May 29th. William Blair restated a "market perform" rating on shares of AST SpaceMobile in a research note on Friday, May 29th. New Street Research set a $106.00 target price on shares of AST SpaceMobile in a report on Friday, May 29th. B. Riley Financial upped their target price on shares of AST SpaceMobile from $75.00 to $85.00 and gave the stock a "neutral" rating in a report on Tuesday, May 12th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of AST SpaceMobile in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, AST SpaceMobile has an average rating of "Reduce" and a consensus price target of $85.09.

Insider Activity at AST SpaceMobile

In other AST SpaceMobile news, Director Julio A. Torres sold 15,000 shares of the business's stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $76.34, for a total value of $1,145,100.00. Following the sale, the director owned 43,239 shares in the company, valued at $3,300,865.26. The trade was a 25.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Andrew Martin Johnson sold 45,809 shares of the business's stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $93.81, for a total transaction of $4,297,342.29. Following the completion of the sale, the chief financial officer owned 503,619 shares in the company, valued at approximately $47,244,498.39. The trade was a 8.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,455,809 shares of company stock worth $126,145,492 in the last three months. Insiders own 20.89% of the company's stock.

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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