Sage Advisors LLC Invests $347,000 in AST SpaceMobile, Inc. $ASTS

Key Points

• Sage Advisors LLC invested $347,000 in AST SpaceMobile, acquiring 7,434 shares, representing about 0.2% of their total holdings.
• Several institutional investors, including Wealth Enhancement Advisory Services and GAMMA Investing, have recently increased their stakes in AST SpaceMobile, with institutional ownership now at 60.95%.
• AST SpaceMobile reported a loss of ($0.41) earnings per share, significantly missing the expected ($0.19), indicating ongoing financial struggles despite a market capitalization of $32.45 billion.

Sage Advisors LLC acquired a new position in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 7,434 shares of the company's stock, valued at approximately $347,000. AST SpaceMobile accounts for approximately 0.2% of Sage Advisors LLC's holdings, making the stock its 27th biggest holding.

Several other institutional investors have also recently made changes to their positions in ASTS. Wealth Enhancement Advisory Services LLC bought a new position in shares of AST SpaceMobile in the fourth quarter worth about $217,000. GAMMA Investing LLC raised its stake in shares of AST SpaceMobile by 388.7% in the first quarter. GAMMA Investing LLC now owns 1,559 shares of the company's stock worth $35,000 after buying an additional 1,240 shares during the period. SG Americas Securities LLC raised its stake in shares of AST SpaceMobile by 246.1% in the first quarter. SG Americas Securities LLC now owns 29,802 shares of the company's stock worth $678,000 after buying an additional 21,192 shares during the period. Dynamic Advisor Solutions LLC raised its stake in shares of AST SpaceMobile by 36.8% in the first quarter. Dynamic Advisor Solutions LLC now owns 116,847 shares of the company's stock worth $2,657,000 after buying an additional 31,414 shares during the period. Finally, Janney Montgomery Scott LLC bought a new position in shares of AST SpaceMobile in the first quarter worth about $331,000. Institutional investors own 60.95% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Weiss Ratings reissued a "sell (d-)" rating on shares of AST SpaceMobile in a research note on Wednesday, October 8th. Zacks Research raised AST SpaceMobile from a "strong sell" rating to a "hold" rating in a research note on Monday, August 18th. Roth Capital reissued a "buy" rating on shares of AST SpaceMobile in a research note on Tuesday, August 12th. Scotiabank downgraded AST SpaceMobile from a "sector perform" rating to a "sector underperform" rating and set a $42.90 target price on the stock. in a research note on Tuesday, October 7th. Finally, Bank of America assumed coverage on AST SpaceMobile in a research note on Wednesday, June 25th. They set a "neutral" rating and a $55.00 target price on the stock. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, AST SpaceMobile currently has an average rating of "Hold" and a consensus price target of $45.27.

AST SpaceMobile Stock Performance

NASDAQ ASTS opened at $90.50 on Tuesday. The stock has a market capitalization of $32.45 billion, a PE ratio of -47.88 and a beta of 2.41. The business has a 50 day simple moving average of $51.60 and a two-hundred day simple moving average of $40.65. The company has a debt-to-equity ratio of 0.42, a current ratio of 8.23 and a quick ratio of 8.23. AST SpaceMobile, Inc. has a 1-year low of $17.50 and a 1-year high of $92.07.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The company reported ($0.41) earnings per share 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 net margin of 7,213.90% and a negative return on equity of 26.81%. On average, research analysts predict that AST SpaceMobile, Inc. will post -0.4 EPS for the current fiscal year.

Insider Activity at AST SpaceMobile

In other AST SpaceMobile news, CFO Andrew Martin Johnson sold 20,000 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the chief financial officer owned 397,485 shares in the company, valued at $20,860,012.80. This trade represents a 4.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CTO Huiwen Yao sold 40,000 shares of the firm's stock in a transaction that occurred 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 transaction, the chief technology officer owned 4,750 shares of the company's stock, valued at $192,755. This represents a 89.39% decrease in their position. The disclosure for this sale can be found here. Company insiders own 41.80% of the company's stock.

About AST SpaceMobile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.