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

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

Several other hedge funds have also recently added to or reduced their stakes in ASTS. Atlantic Union Bankshares Corp acquired a new position in shares of AST SpaceMobile during the 2nd quarter worth about $28,000. Binnacle Investments Inc bought a new stake in AST SpaceMobile in the second quarter valued at approximately $33,000. Chapman Financial Group LLC acquired a new stake in AST SpaceMobile in the second quarter worth $38,000. Spire Wealth Management acquired a new stake in AST SpaceMobile in the second quarter worth $45,000. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of AST SpaceMobile during the second quarter worth $47,000. Institutional investors and hedge funds own 60.95% of the company’s stock.

Insider Buying and Selling

In other news, CAO Maya Bernal sold 6,000 shares of the business’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $73.76, for a total value of $442,560.00. Following the sale, the chief accounting officer owned 122,486 shares of the company’s stock, valued at $9,034,567.36. The trade was a 4.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Shanti B. Gupta sold 10,000 shares of the stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $77.34, for a total transaction of $773,400.00. Following the transaction, the chief operating officer owned 382,375 shares of the company’s stock, valued at $29,572,882.50. The trade was a 2.55% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders acquired 2,765 shares of company stock valued at $187,236 and sold 2,354,621 shares valued at $164,348,075. 30.90% of the stock is currently owned by company insiders.

AST SpaceMobile Stock Performance

ASTS opened at $83.47 on Monday. The company has a market capitalization of $30.64 billion, a price-to-earnings ratio of -67.31 and a beta of 2.70. The business’s 50-day moving average price is $68.71 and its two-hundred day moving average price is $59.34. AST SpaceMobile, Inc. has a 1 year low of $17.50 and a 1 year high of $102.79. 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 quarterly earnings data 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). The firm had revenue of $14.74 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 1236.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.10) earnings per share. Equities analysts expect that AST SpaceMobile, Inc. will post -0.4 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on the stock. UBS Group cut shares of AST SpaceMobile from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $62.00 to $43.00 in a research report on Tuesday, September 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of AST SpaceMobile in a research note on Monday, December 29th. Scotiabank raised AST SpaceMobile from a “sector underperform” rating to a “sector perform” rating and set a $45.60 price target on the stock in a research report on Monday, November 24th. Barclays cut AST SpaceMobile from an “overweight” rating to an “underweight” rating and set a $60.00 price objective on the stock. in a report on Friday, October 17th. Finally, Zacks Research cut AST SpaceMobile from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 21st. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $45.66.

AST SpaceMobile 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.