AST SpaceMobile, Inc. $ASTS Shares Bought by Orion Porfolio Solutions LLC

Orion Porfolio Solutions LLC lifted its holdings in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 35.9% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 39,663 shares of the company’s stock after buying an additional 10,487 shares during the period. Orion Porfolio Solutions LLC’s holdings in AST SpaceMobile were worth $1,853,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Atlantic Union Bankshares Corp acquired a new stake in AST SpaceMobile in the 2nd quarter valued at $28,000. Binnacle Investments Inc purchased a new stake in shares of AST SpaceMobile in the second quarter worth about $33,000. Chapman Financial Group LLC acquired a new stake in shares of AST SpaceMobile in the second quarter valued at about $38,000. Spire Wealth Management acquired a new stake in shares of AST SpaceMobile in the second quarter valued at about $45,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of AST SpaceMobile during the 2nd quarter valued at about $47,000. 60.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ASTS shares. Barclays cut AST SpaceMobile from an “overweight” rating to an “underweight” rating and set a $60.00 price target for the company. in a report on Friday, October 17th. Zacks Research downgraded shares of AST SpaceMobile from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 21st. UBS Group lowered shares of AST SpaceMobile from a “buy” rating to a “neutral” rating and lowered their price target for the company from $62.00 to $43.00 in a report on Tuesday, September 9th. Scotiabank raised shares of AST SpaceMobile from a “sector underperform” rating to a “sector perform” rating and set a $45.60 price target on the stock in a research note on Monday, November 24th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of AST SpaceMobile in a research report on Monday, December 15th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, AST SpaceMobile presently has a consensus rating of “Hold” and an average target price of $45.66.

AST SpaceMobile Stock Up 15.0%

Shares of NASDAQ:ASTS opened at $75.84 on Friday. The company has a current ratio of 9.56, a quick ratio of 9.48 and a debt-to-equity ratio of 0.43. The company has a fifty day simple moving average of $69.87 and a 200 day simple moving average of $56.30. The firm has a market cap of $27.83 billion, a PE ratio of -61.16 and a beta of 2.76. AST SpaceMobile, Inc. has a 12-month low of $17.50 and a 12-month high of $102.79.

AST SpaceMobile (NASDAQ:ASTS) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.27). The company had revenue of $14.74 million for the quarter, compared to the consensus estimate of $22.04 million. AST SpaceMobile had a negative net margin of 1,639.59% and a negative return on equity of 27.76%. The company’s revenue was up 1236.4% compared to the same quarter last year. During the same quarter last year, the company earned ($1.10) earnings per share. On average, equities research analysts anticipate that AST SpaceMobile, Inc. will post -0.4 EPS for the current fiscal year.

Insider Buying and Selling at AST SpaceMobile

In other AST SpaceMobile news, CTO Huiwen Yao sold 40,000 shares of the stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $73.52, for a total transaction of $2,940,800.00. Following the transaction, the chief technology officer owned 4,750 shares of the company’s stock, valued at $349,220. This trade represents a 89.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Maya Bernal sold 6,000 shares of AST SpaceMobile stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $73.76, for a total value of $442,560.00. Following the completion of the transaction, the chief accounting officer owned 122,486 shares of the company’s stock, valued at approximately $9,034,567.36. The trade was a 4.67% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have purchased 2,140 shares of company stock valued at $137,236 and have sold 2,354,621 shares valued at $164,348,075. 30.90% of the stock is currently owned by company insiders.

About AST SpaceMobile

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.