57,975 Shares in AST SpaceMobile, Inc. $ASTS Bought by IFM Investors Pty Ltd

IFM Investors Pty Ltd purchased a new stake in AST SpaceMobile, Inc. (NASDAQ:ASTS) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 57,975 shares of the company’s stock, valued at approximately $4,804,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Crewe Advisors LLC bought a new stake in shares of AST SpaceMobile in 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 about $25,000. Portus Wealth Advisors LLC bought a new position in shares of AST SpaceMobile during the first quarter worth about $30,000. Advocate Investing Services LLC acquired a new position in AST SpaceMobile in the first quarter worth about $31,000. Finally, Byrne Asset Management LLC acquired a new position in AST SpaceMobile in the fourth quarter worth about $29,000. 60.95% of the stock is currently owned by institutional investors.

AST SpaceMobile Price Performance

Shares of NASDAQ:ASTS opened at $85.13 on Friday. The company has a market cap of $33.04 billion, a PE ratio of -47.83 and a beta of 2.69. AST SpaceMobile, Inc. has a fifty-two week low of $36.08 and a fifty-two week high of $133.86. The firm has a 50-day simple moving average of $87.38 and a 200 day simple moving average of $89.44. The company has a quick ratio of 18.37, a current ratio of 18.47 and a debt-to-equity ratio of 1.11.

AST SpaceMobile (NASDAQ:ASTS) last issued its earnings results on Monday, May 11th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.43). The business had revenue of $14.73 million during the quarter, compared to the consensus estimate 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 revenue was up 1952.2% on a year-over-year basis. During the same period in the prior year, the business earned ($0.20) EPS. On average, sell-side analysts anticipate that AST SpaceMobile, Inc. will post -1.47 EPS for the current year.

Insider Buying and Selling

In other AST SpaceMobile news, CFO Andrew Martin Johnson sold 45,809 shares of the stock in a transaction on Thursday, June 11th. The stock was 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 $47,244,498.39. This trade represents a 8.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Hiroshi Mikitani sold 1,350,000 shares of the firm’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $86.22, for a total value of $116,397,000.00. Following the completion of the sale, the insider owned 27,980,155 shares in the company, valued at $2,412,448,964.10. The trade was a 4.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 3,145,809 shares of company stock worth $280,645,292. Company insiders own 20.89% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on ASTS. Barclays boosted their price objective on AST SpaceMobile from $60.00 to $65.00 and gave the company an “underweight” rating in a report on Thursday, April 9th. B. Riley Financial lifted their target price on AST SpaceMobile from $75.00 to $85.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 12th. New Street Research set a $106.00 price target on AST SpaceMobile in a report on Friday, May 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of AST SpaceMobile in a report on Wednesday, June 24th. Finally, Wall Street Zen lowered AST SpaceMobile from a “sell” rating to a “strong sell” rating in a research report on Wednesday, April 15th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $85.09.

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.