Public Employees Retirement System of Ohio Takes $2.50 Million Position in AST SpaceMobile, Inc. $ASTS

Public Employees Retirement System of Ohio bought a new stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 53,515 shares of the company’s stock, valued at approximately $2,501,000.

A number of other institutional investors have also recently modified their holdings of ASTS. Two Sigma Investments LP lifted its position in shares of AST SpaceMobile by 117.5% during the 4th quarter. Two Sigma Investments LP now owns 51,874 shares of the company’s stock valued at $1,095,000 after acquiring an additional 28,025 shares during the period. Wealth Enhancement Advisory Services LLC bought a new stake in shares of AST SpaceMobile during the 4th quarter valued at $217,000. California State Teachers Retirement System lifted its position in shares of AST SpaceMobile by 15.2% during the 4th quarter. California State Teachers Retirement System now owns 147,430 shares of the company’s stock valued at $3,111,000 after acquiring an additional 19,471 shares during the period. GAMMA Investing LLC lifted its position in shares of AST SpaceMobile by 11,013.5% during the 1st quarter. GAMMA Investing LLC now owns 35,452 shares of the company’s stock valued at $8,060,000 after acquiring an additional 35,133 shares during the period. Finally, UMB Bank n.a. bought a new stake in shares of AST SpaceMobile during the 1st quarter valued at $45,000. 60.95% of the stock is currently owned by institutional investors.

Insider Transactions at AST SpaceMobile

In other AST SpaceMobile news, CTO Huiwen Yao sold 40,000 shares of the company’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $40.58, for a total value of $1,623,200.00. Following the completion of the transaction, the chief technology officer owned 4,750 shares of the company’s stock, valued at $192,755. This represents a 89.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Andrew Martin Johnson sold 20,000 shares of the company’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $52.48, for a total value of $1,049,600.00. Following the completion of the transaction, the chief financial officer directly owned 397,485 shares of the company’s stock, valued at approximately $20,860,012.80. The trade was a 4.79% decrease in their position. The disclosure for this sale can be found here. 34.15% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ASTS has been the subject of a number of research analyst reports. William Blair initiated coverage on AST SpaceMobile in a report on Thursday, August 21st. They set a “market perform” rating for the company. Roth Capital reissued a “buy” rating on shares of AST SpaceMobile in a report on Tuesday, August 12th. Bank of America initiated coverage on AST SpaceMobile in a report on Wednesday, June 25th. They set a “neutral” rating and a $55.00 price target for the company. Zacks Research raised AST SpaceMobile from a “strong sell” rating to a “hold” rating in a report on Monday, August 18th. Finally, UBS Group cut AST SpaceMobile from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $62.00 to $43.00 in a report on Tuesday, September 9th. Four research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, AST SpaceMobile currently has a consensus rating of “Hold” and an average price target of $45.27.

AST SpaceMobile Price Performance

Shares of ASTS opened at $56.94 on Thursday. AST SpaceMobile, Inc. has a 12-month low of $17.50 and a 12-month high of $60.95. The business has a 50-day simple moving average of $47.82 and a two-hundred day simple moving average of $37.63. The company has a quick ratio of 8.23, a current ratio of 8.23 and a debt-to-equity ratio of 0.42. The stock has a market cap of $20.41 billion, a PE ratio of -30.13 and a beta of 2.42.

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

AST SpaceMobile Company Profile

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.