World Equity Group Inc. Has $1.39 Million Holdings in AST SpaceMobile, Inc. $ASTS

Key Points

• World Equity Group Inc. increased its AST SpaceMobile stake by 427.9% in Q1, ending with 16,770 shares valued at about $1.39 million.
• AST SpaceMobile’s latest quarterly results missed expectations, with EPS of -$0.66 versus a -$0.23 estimate and revenue of $14.73 million versus $39.01 million forecast.
• Sentiment remains mixed to cautious: analysts’ average rating is Hold, while the company faces concerns over convertible note financing, dilution, and delayed commercial satellite service timelines.

World Equity Group Inc. boosted its stake in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 427.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,770 shares of the company's stock after purchasing an additional 13,593 shares during the quarter. World Equity Group Inc.'s holdings in AST SpaceMobile were worth $1,390,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. 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 shares of AST SpaceMobile in the 4th quarter valued at approximately $25,000. Cornerstone Planning Group LLC raised its position in shares of 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 acquiring an additional 327 shares during the period. Byrne Asset Management LLC bought a new position in AST SpaceMobile during the 4th quarter worth approximately $29,000. Finally, Acumen Wealth Advisors LLC bought a new position in AST SpaceMobile during the 4th quarter worth approximately $29,000. Institutional investors and hedge funds own 60.95% of the company's stock.

AST SpaceMobile Price Performance

NASDAQ ASTS opened at $57.80 on Friday. The business has a 50 day simple moving average of $86.76 and a 200 day simple moving average of $89.12. AST SpaceMobile, Inc. has a 52-week low of $36.08 and a 52-week high of $133.86. The company has a debt-to-equity ratio of 1.11, a quick ratio of 18.37 and a current ratio of 18.47. The stock has a market cap of $22.43 billion, a price-to-earnings ratio of -32.47 and a beta of 2.69.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last announced its earnings results on Monday, May 11th. The company reported ($0.66) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.43). The company had revenue of $14.73 million for the quarter, compared to analyst estimates of $39.01 million. AST SpaceMobile had a negative return on equity of 24.87% and a negative net margin of 573.67%.The business's quarterly revenue was up 1952.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.20) earnings per share. Analysts anticipate that AST SpaceMobile, Inc. will post -1.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on ASTS shares. Weiss Ratings restated a "sell (d-)" rating on shares of AST SpaceMobile in a report on Wednesday, June 24th. Barclays increased their target price on shares of AST SpaceMobile from $60.00 to $65.00 and gave the stock an "underweight" rating in a report on Thursday, April 9th. Deutsche Bank Aktiengesellschaft lowered 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 report on Friday, May 29th. Wall Street Zen cut shares of AST SpaceMobile from a "sell" rating to a "strong sell" rating in a research report on Wednesday, April 15th. Finally, William Blair reiterated a "market perform" rating on shares of AST SpaceMobile in a report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $86.95.

Insider Buying and Selling

In related news, CFO Andrew Martin Johnson sold 45,809 shares of the business's stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $93.81, for a total value of $4,297,342.29. Following the sale, the chief financial officer directly owned 503,619 shares of the company's stock, valued at approximately $47,244,498.39. The trade was a 8.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Huiwen Yao sold 40,000 shares of the company's 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 completion of the transaction, the chief technology officer directly owned 34,750 shares of the company's stock, valued at approximately $3,348,857.50. The trade was a 53.51% decrease in their ownership of the stock. 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. Insiders have sold a total of 105,809 shares of company stock worth $9,748,492 over the last ninety days. Company insiders own 20.89% of the company's stock.

More AST SpaceMobile News

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

• Positive Sentiment: Piper Sandler reportedly upgraded AST SpaceMobile to Strong Buy, suggesting at least one bullish analyst sees value after the selloff.
• Positive Sentiment: Some market commentary says the $1 billion notes offering may be less dilutive than feared, with proponents arguing the market has misunderstood the financing impact.
• Positive Sentiment: Long-term optimism remains tied to ASTS’s strategy to build a space-based cellular network for standard smartphones, with nearly 60 global carriers committed and access to a large subscriber base.
• Neutral Sentiment: Several articles framed the move as part of a broader space-stock selloff, with ASTS trading alongside weakness in other names in the sector.
• Negative Sentiment: ASTS priced $1 billion of 1.625% convertible notes due 2034, which sparked concerns about financing risk and potential shareholder dilution.
• Negative Sentiment: The company also disclosed a delay to its commercial satellite service timeline, adding execution concerns to the investment case.
• Negative Sentiment: Analyst and media coverage pointed to weakening sentiment, valuation concerns, and a consensus Reduce rating, all of which are weighing on the stock.

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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