SEB Asset Management AB Purchases Shares of 44,766 AST SpaceMobile, Inc. $ASTS

Key Points

• SEB Asset Management AB disclosed a new position in AST SpaceMobile, buying 44,766 shares worth about $3.71 million in the first quarter.
• Institutional ownership remains significant, with 60.95% of ASTS shares held by institutions, and several other firms also added small stakes or boosted holdings.
• Analyst sentiment is mixed: the stock has a current Hold consensus and an average price target of $86.95, while recent opinions range from bullish upgrades to a bearish rating from Weiss.

SEB Asset Management AB purchased a new stake in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 44,766 shares of the company's stock, valued at approximately $3,710,000.

A number of other institutional investors have also made changes to their positions in ASTS. Crewe Advisors LLC acquired a new position in shares of AST SpaceMobile during the 4th quarter worth about $25,000. Laurel Wealth Advisors LLC acquired a new stake in AST SpaceMobile in the 4th quarter valued at approximately $25,000. Cornerstone Planning Group LLC grew its holdings in AST SpaceMobile by 16,350.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 329 shares of the company's stock valued at $27,000 after buying an additional 327 shares during the last quarter. Byrne Asset Management LLC acquired a new stake in AST SpaceMobile in the 4th quarter valued at approximately $29,000. Finally, Acumen Wealth Advisors LLC bought a new position in AST SpaceMobile in the 4th quarter worth approximately $29,000. 60.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ASTS has been the subject of a number of research analyst reports. UBS Group cut their price target on AST SpaceMobile from $85.00 to $80.00 and set a "neutral" rating for the company in a report on Tuesday, May 12th. B. Riley Financial upgraded shares of AST SpaceMobile from a "neutral" rating to a "buy" rating and set a $85.00 price objective on the stock in a research note on Friday, July 17th. Roth Capital reaffirmed a "buy" rating and set a $108.00 target price on shares of AST SpaceMobile in a research report on Tuesday, May 12th. New Street Research set a $106.00 price target on shares of AST SpaceMobile in a report on Friday, May 29th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of AST SpaceMobile in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $86.95.

More AST SpaceMobile News

Here are the key news stories impacting AST SpaceMobile this week:

• Positive Sentiment: AST SpaceMobile completed a private offering of $1.15 billion in convertible senior notes due 2034, which gives it substantially more funding to support satellite deployment and execution of its constellation plan. AST SpaceMobile Announces Completion of Private Offering of $1.15 Billion of Convertible Senior Notes Due 2034
• Positive Sentiment: Investors initially viewed the new debt positively once they recognized it could help get the company’s satellites launched, helping explain a sharp move higher earlier in the day. Why a Billion Dollars in New Debt Just Sent ASTS Flying
• Positive Sentiment: Management also said BlueBird satellites 8, 9, and 10 are fully deployed, with three more already at Cape, reinforcing progress toward the company’s launch roadmap. ASTS Stock Rises Overnight: CEO Says BlueBirds 8, 9 And 10 Are Fully Deployed — With 3 More Satellites Already At Cape
• Neutral Sentiment: Some commentary continued to frame AST SpaceMobile as a high-risk but potentially compelling long-term space stock, with bullish comparisons to other space names. If The Market Crashes, This Is The 1 Space Stock I Can't Wait To Buy
• Neutral Sentiment: Other sector-related coverage compared AST SpaceMobile with Redwire, highlighting the competitive opportunity in the space systems market rather than a clear new catalyst. Better Space Stock: AST SpaceMobile vs. Redwire
• Negative Sentiment: Concern remains over the company’s heavy cash burn, and Jim Cramer reiterated that AST SpaceMobile is “losing a fortune,” which may weigh on sentiment. ‘That Thing Has Just Been Crushed': Cramer On This Tech Stock
• Negative Sentiment: Pomerantz LLP announced an investigation into claims on behalf of ASTS investors, adding a legal overhang that can pressure the stock. INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of AST SpaceMobile, Inc. - ASTS

Insider Activity at AST SpaceMobile

In related news, Director Julio A. Torres sold 15,000 shares of the firm's stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $76.34, for a total value of $1,145,100.00. Following the completion of the transaction, the director directly owned 43,239 shares of the company's stock, valued at $3,300,865.26. This trade represents a 25.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Huiwen Yao sold 40,000 shares of AST SpaceMobile stock in a transaction on Friday, June 5th. The stock was sold at an average price of $96.37, for a total transaction of $3,854,800.00. Following the sale, the chief technology officer owned 34,750 shares in the company, valued at $3,348,857.50. This represents a 53.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 105,809 shares of company stock worth $9,748,492. 20.89% of the stock is owned by corporate insiders.

AST SpaceMobile Trading Down 2.2%

AST SpaceMobile stock opened at $61.95 on Thursday. The business has a 50 day moving average price of $85.81 and a two-hundred day moving average price of $88.98. The company has a quick ratio of 18.37, a current ratio of 18.47 and a debt-to-equity ratio of 1.11. The stock has a market cap of $24.04 billion, a price-to-earnings ratio of -34.80 and a beta of 2.69. AST SpaceMobile, Inc. has a 12 month low of $36.08 and a 12 month high of $133.86.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.66) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.43). AST SpaceMobile had a negative return on equity of 24.87% and a negative net margin of 573.67%.The firm had revenue of $14.73 million for the quarter, compared to analyst estimates of $39.01 million. During the same period in the previous year, the business posted ($0.20) EPS. AST SpaceMobile's revenue for the quarter was up 1952.2% compared to the same quarter last year. As a group, equities analysts forecast that AST SpaceMobile, Inc. will post -1.38 EPS for the current year.

AST SpaceMobile Profile

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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