Candriam S.C.A. Takes Position in AST SpaceMobile, Inc. $ASTS

Candriam S.C.A. acquired a new stake in AST SpaceMobile, Inc. (NASDAQ:ASTS) in the first quarter, Holdings Channel.com reports. The fund acquired 13,360 shares of the company’s stock, valued at approximately $1,107,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. AQR Capital Management LLC boosted its holdings in AST SpaceMobile by 11.8% in the 1st quarter. AQR Capital Management LLC now owns 34,548 shares of the company’s stock valued at $786,000 after purchasing an additional 3,642 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of AST SpaceMobile by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 79,764 shares of the company’s stock worth $1,814,000 after buying an additional 3,515 shares during the last quarter. Millennium Management LLC raised its position in shares of AST SpaceMobile by 16.1% during the 1st quarter. Millennium Management LLC now owns 467,626 shares of the company’s stock valued at $10,634,000 after buying an additional 64,989 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of AST SpaceMobile by 18.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 325,621 shares of the company’s stock valued at $7,405,000 after buying an additional 49,811 shares during the period. Finally, Strs Ohio acquired a new position in AST SpaceMobile in the first quarter valued at approximately $168,000. 60.95% of the stock is currently owned by institutional investors and hedge funds.

AST SpaceMobile Stock Down 3.6%

NASDAQ:ASTS opened at $66.31 on Thursday. AST SpaceMobile, Inc. has a 52 week low of $36.08 and a 52 week high of $133.86. The stock’s fifty day moving average is $87.32 and its two-hundred day moving average is $89.46. The stock has a market capitalization of $25.74 billion, a price-to-earnings ratio of -37.25 and a beta of 2.69. 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 quarterly earnings data on Monday, May 11th. The company reported ($0.66) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.43). The firm had revenue of $14.73 million during the quarter, compared to analyst estimates of $39.01 million. AST SpaceMobile had a negative net margin of 573.67% and a negative return on equity of 24.87%. The company’s quarterly revenue was up 1952.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.20) earnings per share. Research analysts anticipate that AST SpaceMobile, Inc. will post -1.47 EPS for the current year.

Insider Activity at AST SpaceMobile

In other news, CFO Andrew Martin Johnson sold 45,809 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $93.81, for a total transaction of $4,297,342.29. Following the sale, the chief financial officer owned 503,619 shares of the company’s stock, valued at approximately $47,244,498.39. This represents a 8.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Julio A. Torres sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $76.34, for a total transaction of $1,145,100.00. Following the completion of the transaction, the director directly owned 43,239 shares of the company’s stock, valued at approximately $3,300,865.26. The trade was a 25.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 105,809 shares of company stock worth $9,748,492 in the last three months. 20.89% of the stock is owned by company insiders.

Analysts Set New Price Targets

ASTS has been the subject of several analyst reports. Barclays increased their price objective on AST SpaceMobile from $60.00 to $65.00 and gave the stock an “underweight” rating in a research report on Thursday, April 9th. Roth Capital restated a “buy” rating and issued a $108.00 target price on shares of AST SpaceMobile in a research report on Tuesday, May 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AST SpaceMobile in a research note on Wednesday, June 24th. William Blair reiterated a “market perform” rating on shares of AST SpaceMobile in a report on Friday, May 29th. Finally, B. Riley Financial raised their price objective on AST SpaceMobile from $75.00 to $85.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 12th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $86.95.

Trending Headlines about AST SpaceMobile

Here are the key news stories impacting AST SpaceMobile this week:

• Positive Sentiment: AST SpaceMobile said BlueBird 11 has arrived at Cape Canaveral, with BlueBirds 12 and 13 expected to follow for an August launch, keeping its satellite deployment roadmap on track. AST SpaceMobile (ASTS) Secures Global Approvals As Texas Expansion And Launches Near
• Positive Sentiment: Bell Canada completed its first direct-to-device satellite ground station in Québec, a sign that AST SpaceMobile’s network ecosystem is expanding and moving closer to commercialization in Canada. Bell successfully completes construction of its first sovereign direct-to-device satellite ground station in Canada
• Positive Sentiment: Midland is set to consider a $150 million manufacturing expansion tied to AST SpaceMobile that could create 1,800 jobs, reinforcing the company’s long-term buildout narrative. ASTS Stock Snaps 3-Day Losing Streak On ‘Imminent’ BlueBird Launch — Midland Weighs $150M AST SpaceMobile Deal

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.