Intech Investment Management LLC Buys 22,358 Shares of AST SpaceMobile, Inc. $ASTS

Intech Investment Management LLC boosted its stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 36.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 84,069 shares of the company’s stock after buying an additional 22,358 shares during the quarter. Intech Investment Management LLC’s holdings in AST SpaceMobile were worth $1,912,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Sunbelt Securities Inc. lifted its holdings in AST SpaceMobile by 61.9% during the first quarter. Sunbelt Securities Inc. now owns 1,321 shares of the company’s stock valued at $30,000 after purchasing an additional 505 shares during the last quarter. GAMMA Investing LLC lifted its holdings in AST SpaceMobile by 388.7% during the first quarter. GAMMA Investing LLC now owns 1,559 shares of the company’s stock valued at $35,000 after purchasing an additional 1,240 shares during the last quarter. Financial Gravity Asset Management Inc. purchased a new stake in AST SpaceMobile during the first quarter valued at about $41,000. Close Asset Management Ltd lifted its holdings in AST SpaceMobile by 72.4% during the first quarter. Close Asset Management Ltd now owns 1,810 shares of the company’s stock valued at $41,000 after purchasing an additional 760 shares during the last quarter. Finally, Bernard Wealth Management Corp. purchased a new stake in AST SpaceMobile during the fourth quarter valued at about $42,000. Institutional investors own 60.95% of the company’s stock.

Insider Buying and Selling

In other AST SpaceMobile news, 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 transaction of $1,049,600.00. Following the transaction, the chief financial officer directly owned 397,485 shares in the company, valued at $20,860,012.80. This trade represents a 4.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 41.80% of the stock is owned by insiders.

AST SpaceMobile Stock Down 1.3%

Shares of NASDAQ ASTS opened at $40.43 on Wednesday. AST SpaceMobile, Inc. has a one year low of $17.50 and a one year high of $60.95. The company has a debt-to-equity ratio of 0.42, a current ratio of 8.23 and a quick ratio of 8.23. The firm’s 50 day simple moving average is $48.47 and its two-hundred day simple moving average is $36.18. The stock has a market capitalization of $14.49 billion, a P/E ratio of -21.39 and a beta of 2.43.

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

Analyst Ratings Changes

Several equities research analysts have commented on the stock. B. Riley reaffirmed a “buy” rating and set a $44.00 price objective (up from $36.00) on shares of AST SpaceMobile in a report on Monday, June 16th. Bank of America assumed coverage on shares of AST SpaceMobile in a report on Wednesday, June 25th. They set a “neutral” rating and a $55.00 price objective on the stock. Roth Capital reaffirmed a “buy” rating on shares of AST SpaceMobile in a report on Tuesday, August 12th. Scotiabank dropped their price objective on shares of AST SpaceMobile from $45.40 to $42.90 and set a “sector perform” rating on the stock in a report on Thursday, August 7th. Finally, William Blair initiated coverage on shares of AST SpaceMobile in a report on Thursday, August 21st. They issued a “market perform” rating on the stock. Three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $42.82.

About AST SpaceMobile

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.