UNICOM Systems Inc. Buys Shares of 51,000 AST SpaceMobile, Inc. $ASTS

Key Points

• UNICOM Systems acquired 51,000 AST SpaceMobile shares during the second quarter, worth approximately $4.53 million. Institutional investors and hedge funds collectively own 60.95% of ASTS.
• ASTS shares opened at $71.94, with the stock up 6.8% recently, while analysts maintain a consensus “Hold” rating and an average price target of $87.60.
• AST SpaceMobile is preparing for its Aug. 10 second-quarter earnings report after launching additional BlueBird satellites and securing direct-to-cell approval in Japan. However, insiders sold roughly $9.75 million of shares over the past 90 days, and the company’s latest quarter missed both earnings and revenue estimates.

UNICOM Systems Inc. bought a new position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 51,000 shares of the company's stock, valued at approximately $4,532,000.

Other institutional investors also recently modified their holdings of the company. Laurel Wealth Advisors LLC acquired a new stake in shares of AST SpaceMobile during the 4th quarter valued at $25,000. Cornerstone Planning Group LLC increased 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 worth $27,000 after purchasing an additional 327 shares in the last quarter. Grove Bank & Trust bought a new position in AST SpaceMobile in the second quarter valued at about $27,000. Acumen Wealth Advisors LLC bought a new position in AST SpaceMobile in the fourth quarter valued at about $29,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of AST SpaceMobile during the third quarter valued at about $29,000. 60.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other AST SpaceMobile news, CTO Huiwen Yao sold 40,000 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $96.37, for a total transaction of $3,854,800.00. Following the completion of the sale, the chief technology officer owned 34,750 shares of the company's stock, valued at approximately $3,348,857.50. This represents a 53.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Julio A. Torres sold 15,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $76.34, for a total transaction of $1,145,100.00. Following the transaction, the director owned 43,239 shares of the company's stock, valued at approximately $3,300,865.26. The trade was a 25.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 105,809 shares of company stock valued at $9,748,492 over the last ninety days. 20.89% of the stock is owned by company insiders.

AST SpaceMobile Stock Up 6.8%

Shares of ASTS opened at $71.94 on Friday. The company has a market capitalization of $27.92 billion, a PE ratio of -40.42 and a beta of 2.75. AST SpaceMobile, Inc. has a 12 month low of $36.08 and a 12 month high of $133.86. The stock's 50-day moving average price is $75.96 and its two-hundred day moving average price is $86.21. The company has a current ratio of 18.47, a quick ratio of 18.37 and a debt-to-equity ratio of 1.11.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last issued its quarterly earnings results 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). The company had revenue of $14.73 million during the quarter, compared to analyst estimates of $39.01 million. AST SpaceMobile had a negative net margin of 573.67% and a negative return on equity of 24.87%. The company's quarterly revenue was up 1952.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.20) EPS. On average, analysts anticipate that AST SpaceMobile, Inc. will post -1.38 EPS for the current year.

AST SpaceMobile News Summary

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

• Positive Sentiment: AST SpaceMobile launched three additional BlueBird satellites, reportedly doubling download speeds for direct-to-device partners. The launch strengthens the company’s network capacity ahead of its Aug. 10 earnings call and supports its goal of deploying a larger constellation by 2027. AST SpaceMobile’s Latest BlueBird Launch Raises the Stakes Ahead of Q2 Earnings
• Positive Sentiment: The company received approval to launch direct-to-cell services in Japan with Rakuten Mobile. It also announced testing and network-integration work with Vodafone, Deutsche Telekom, Orange and other operators across Europe, expanding the potential addressable market for its satellite broadband service. AST SpaceMobile Secures Japan Direct To Cell Approval
• Positive Sentiment: Strength across space-related stocks, including a rally in SpaceX despite its lockup expiration, appears to be providing a favorable sector backdrop for ASTS. SpaceX Climbs as Lockup Expiration Fails to Trigger a Selloff
• Neutral Sentiment: Investors are awaiting second-quarter results on Aug. 10. The report will be important for assessing commercial revenue growth, cash use, deployment timing and whether recent network developments are translating into financial progress. Heavily Shorted Satellite Stock Gearing Up for Earnings
• Negative Sentiment: Pomerantz LLP is investigating potential claims on behalf of AST SpaceMobile investors. The announcement creates a legal and headline risk, although it does not establish wrongdoing. Pomerantz Investor Alert

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Roth Capital restated a "buy" rating and set a $108.00 price target on shares of AST SpaceMobile in a report on Tuesday, May 12th. Piper Sandler initiated coverage on shares of AST SpaceMobile in a report on Wednesday, July 15th. They issued an "overweight" rating and a $100.00 price objective for the company. Wall Street Zen downgraded shares of AST SpaceMobile from a "sell" rating to a "strong sell" rating in a research report on Wednesday, April 15th. UBS Group reduced their target price on shares of AST SpaceMobile from $85.00 to $80.00 and set a "neutral" rating on the stock in a report on Tuesday, May 12th. Finally, Deutsche Bank Aktiengesellschaft cut shares of AST SpaceMobile from a "buy" rating to a "hold" rating and decreased their price target for the company from $117.00 to $106.00 in a research report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $87.60.

AST SpaceMobile Company 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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