AST SpaceMobile, Inc. $ASTS Shares Bought by Creative Planning

Creative Planning grew its stake in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 36.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,429 shares of the company’s stock after purchasing an additional 11,041 shares during the period. Creative Planning’s holdings in AST SpaceMobile were worth $1,936,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Rakuten Group Inc. purchased a new position in AST SpaceMobile in the 1st quarter valued at $705,398,000. Northern Trust Corp lifted its stake in shares of AST SpaceMobile by 2.7% in the 1st quarter. Northern Trust Corp now owns 1,266,315 shares of the company’s stock worth $28,796,000 after acquiring an additional 33,259 shares during the period. Voya Investment Management LLC lifted its stake in shares of AST SpaceMobile by 1,992.5% in the 1st quarter. Voya Investment Management LLC now owns 843,554 shares of the company’s stock worth $19,182,000 after acquiring an additional 803,240 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of AST SpaceMobile by 28.2% in the second quarter. Bank of New York Mellon Corp now owns 761,154 shares of the company’s stock valued at $35,569,000 after acquiring an additional 167,416 shares in the last quarter. Finally, Jump Financial LLC acquired a new position in shares of AST SpaceMobile during the first quarter worth about $14,750,000. 60.95% of the stock is owned by institutional investors and hedge funds.

AST SpaceMobile Stock Performance

ASTS opened at $55.51 on Wednesday. AST SpaceMobile, Inc. has a 1-year low of $17.50 and a 1-year high of $102.79. The stock has a market cap of $20.37 billion, a P/E ratio of -44.77 and a beta of 2.45. The stock’s 50 day simple moving average is $67.05 and its 200 day simple moving average is $51.15. The company has a debt-to-equity ratio of 0.43, a current ratio of 9.56 and a quick ratio of 9.48.

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

Insider Activity

In other AST SpaceMobile news, CTO Huiwen Yao sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $40.58, for a total transaction of $1,623,200.00. Following the completion of the transaction, the chief technology officer directly owned 4,750 shares in the company, valued at approximately $192,755. This trade represents a 89.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Adriana Cisneros purchased 750 shares of AST SpaceMobile stock in a transaction on Thursday, November 20th. The stock was acquired at an average cost of $50.79 per share, for a total transaction of $38,092.50. Following the acquisition, the director directly owned 784,077 shares of the company’s stock, valued at approximately $39,823,270.83. This represents a 0.10% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 30.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Zacks Research cut shares of AST SpaceMobile from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 21st. Weiss Ratings reissued a “sell (e+)” rating on shares of AST SpaceMobile in a research note on Monday. Barclays downgraded 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. Scotiabank upgraded AST SpaceMobile from a “sector underperform” rating to a “sector perform” rating and set a $45.60 price objective for the company in a research report on Monday. Finally, UBS Group downgraded AST SpaceMobile from a “buy” rating to a “neutral” rating and reduced their target price for the company from $62.00 to $43.00 in a report on Tuesday, September 9th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $45.66.

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.