WealthPlan Investment Management LLC Acquires New Holdings in AST SpaceMobile, Inc. $ASTS

Key Points

• WealthPlan Investment Management LLC has acquired a new stake in AST SpaceMobile, Inc. worth approximately $2.4 million, consisting of 51,658 shares.
• Several institutional investors have increased their holdings in AST SpaceMobile during the second quarter, leading to a total of 60.95% of the stock now owned by such investors.
• Wall Street analysts' ratings for AST SpaceMobile vary widely, with analysts providing a consensus target price of $45.27 and ratings ranging from Buy to Sell.

WealthPlan Investment Management LLC acquired a new stake in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 51,658 shares of the company's stock, valued at approximately $2,414,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Sage Advisors LLC acquired a new position in shares of AST SpaceMobile in the 2nd quarter valued at approximately $347,000. Moran Wealth Management LLC grew its position in shares of AST SpaceMobile by 38.7% in the 2nd quarter. Moran Wealth Management LLC now owns 58,300 shares of the company's stock valued at $2,724,000 after purchasing an additional 16,259 shares during the period. CWM LLC grew its position in shares of AST SpaceMobile by 77.9% in the 2nd quarter. CWM LLC now owns 1,350 shares of the company's stock valued at $63,000 after purchasing an additional 591 shares during the period. Vanguard Personalized Indexing Management LLC acquired a new position in shares of AST SpaceMobile in the 2nd quarter valued at approximately $558,000. Finally, waypoint wealth counsel grew its position in shares of AST SpaceMobile by 3.5% in the 2nd quarter. waypoint wealth counsel now owns 16,746 shares of the company's stock valued at $783,000 after purchasing an additional 565 shares during the period. 60.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ASTS has been the subject of several research analyst reports. Bank of America initiated coverage on AST SpaceMobile in a research report on Wednesday, June 25th. They issued a "neutral" rating and a $55.00 price objective for the company. Scotiabank cut shares of AST SpaceMobile from a "sector perform" rating to a "sector underperform" rating and set a $42.90 price target for the company. in a research note on Tuesday, October 7th. Barclays raised their price target on shares of AST SpaceMobile from $37.00 to $60.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 1st. William Blair began coverage on shares of AST SpaceMobile in a research note on Thursday, August 21st. They set a "market perform" rating for the company. Finally, Roth Capital reaffirmed a "buy" rating on shares of AST SpaceMobile in a research note on Tuesday, August 12th. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $45.27.

AST SpaceMobile Price Performance

Shares of ASTS opened at $95.69 on Thursday. The stock has a market capitalization of $34.31 billion, a P/E ratio of -50.63 and a beta of 2.41. The company has a quick ratio of 8.23, a current ratio of 8.23 and a debt-to-equity ratio of 0.42. AST SpaceMobile, Inc. has a twelve month low of $17.50 and a twelve month high of $99.82. The company has a 50 day moving average of $53.32 and a 200-day moving average of $41.40.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last released its quarterly earnings data on Monday, August 11th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.22). The company had revenue of $1.16 million during the quarter, compared to analyst estimates of $6.37 million. AST SpaceMobile had a negative net margin of 7,213.90% and a negative return on equity of 26.81%. As a group, equities research analysts forecast that AST SpaceMobile, Inc. will post -0.4 EPS for the current fiscal year.

Insider Activity at AST SpaceMobile

In other news, CTO Huiwen Yao sold 40,000 shares of the stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $40.58, for a total value of $1,623,200.00. Following the completion of the sale, the chief technology officer owned 4,750 shares of the company's stock, valued at approximately $192,755. This represents a 89.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Andrew Martin Johnson sold 20,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief financial officer directly owned 397,485 shares of the company's stock, valued at approximately $20,860,012.80. The trade was a 4.79% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 34.15% of the company's stock.

AST SpaceMobile Company 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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