Miracle Mile Advisors LLC Has $556,000 Stock Position in AST SpaceMobile, Inc. $ASTS

Miracle Mile Advisors LLC lifted its stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 140.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,330 shares of the company’s stock after purchasing an additional 6,626 shares during the period. Miracle Mile Advisors LLC’s holdings in AST SpaceMobile were worth $556,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Voya Investment Management LLC increased its holdings in AST SpaceMobile by 1,992.5% during the first quarter. Voya Investment Management LLC now owns 843,554 shares of the company’s stock worth $19,182,000 after buying an additional 803,240 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of AST SpaceMobile by 28.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 761,154 shares of the company’s stock worth $35,569,000 after purchasing an additional 167,416 shares during the last quarter. Gotham Asset Management LLC raised its holdings in shares of AST SpaceMobile by 18.1% in the 1st quarter. Gotham Asset Management LLC now owns 607,910 shares of the company’s stock valued at $13,824,000 after purchasing an additional 93,039 shares during the period. Quadrature Capital Ltd raised its holdings in shares of AST SpaceMobile by 170.7% in the 2nd quarter. Quadrature Capital Ltd now owns 569,785 shares of the company’s stock valued at $26,620,000 after purchasing an additional 359,335 shares during the period. Finally, Invesco Ltd. lifted its stake in AST SpaceMobile by 610.4% in the 2nd quarter. Invesco Ltd. now owns 475,531 shares of the company’s stock valued at $22,222,000 after purchasing an additional 408,595 shares during the last quarter. 60.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ASTS. Scotiabank upgraded AST SpaceMobile from a “sector underperform” rating to a “sector perform” rating and set a $45.60 price objective on the stock in a research note on Monday, November 24th. Barclays cut AST SpaceMobile from an “overweight” rating to an “underweight” rating and set a $60.00 price target on the stock. in a research note on Friday, October 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AST SpaceMobile in a research report on Monday, December 29th. UBS Group lowered shares of AST SpaceMobile from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $62.00 to $43.00 in a research report on Tuesday, September 9th. Finally, Zacks Research cut shares of AST SpaceMobile from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 21st. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, AST SpaceMobile currently has an average rating of “Hold” and an average target price of $45.66.

Insider Transactions at AST SpaceMobile

In related news, CTO Huiwen Yao sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $73.52, for a total value of $2,940,800.00. Following the completion of the sale, the chief technology officer directly owned 4,750 shares in the company, valued at approximately $349,220. The trade was a 89.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Shanti B. Gupta sold 10,000 shares of the stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $77.34, for a total value of $773,400.00. Following the sale, the chief operating officer directly owned 382,375 shares in the company, valued at $29,572,882.50. This represents a 2.55% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have purchased 2,765 shares of company stock worth $187,236 and have sold 2,354,621 shares worth $164,348,075. 30.90% of the stock is currently owned by company insiders.

AST SpaceMobile Stock Performance

Shares of NASDAQ ASTS opened at $83.47 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 9.56 and a quick ratio of 9.48. The firm has a market cap of $30.64 billion, a price-to-earnings ratio of -67.31 and a beta of 2.70. The stock’s fifty day moving average price is $68.71 and its two-hundred day moving average price is $59.34. AST SpaceMobile, Inc. has a one year low of $17.50 and a one year high of $102.79.

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

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.