CIBC Asset Management Inc Makes New Investment in AST SpaceMobile, Inc. $ASTS

CIBC Asset Management Inc purchased a new position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 9,320 shares of the company’s stock, valued at approximately $677,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ASTS. AQR Capital Management LLC grew its holdings in shares of AST SpaceMobile by 11.8% during the first quarter. AQR Capital Management LLC now owns 34,548 shares of the company’s stock worth $786,000 after buying an additional 3,642 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of AST SpaceMobile by 4.6% during the first 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 grew its holdings in shares of AST SpaceMobile by 16.1% during the first quarter. Millennium Management LLC now owns 467,626 shares of the company’s stock worth $10,634,000 after buying an additional 64,989 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of AST SpaceMobile by 18.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 325,621 shares of the company’s stock worth $7,405,000 after buying an additional 49,811 shares during the last quarter. Finally, Strs Ohio purchased a new position in shares of AST SpaceMobile during the first quarter worth about $168,000. Hedge funds and other institutional investors own 60.95% of the company’s stock.

AST SpaceMobile News Summary

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

• Positive Sentiment: AST SpaceMobile confirmed a June 17 launch for its next three BlueBird satellites (8, 9, and 10), a key operational milestone that could help reinforce the company’s 2026 deployment goals. AST SpaceMobile Announces Launch Date for BlueBird Satellites 8, 9, and 10
• Positive Sentiment: The BlueBird launch update also suggests the company is making tangible progress on its space-based cellular network, which investors often view as a catalyst for future commercial adoption and revenue growth. AST SpaceMobile sets June 17 launch for BlueBird 8, 9, and 10 satellites
• Neutral Sentiment: Several stories highlighted growing interest around the broader satellite and space connectivity market, including comparisons with SpaceX/Starlink and comments that AST SpaceMobile remains a volatile space-stock name. AST SpaceMobile’s stock experiences rocky trading as SpaceX plans to launch its satellites into orbit
• Neutral Sentiment: Broad-market weakness in AI and chip stocks also weighed on risk appetite, which can spill over into high-beta names like ASTS. S&P 500, Nasdaq End Lower As Investors Take Breather From AI And Chips — AAPL, ASTS, APLD, RIVN, ZVRA In Focus
• Negative Sentiment: Bearish analyst coverage remains a headwind: Barclays reiterated a sell view, and consensus brokerage sentiment on AST SpaceMobile continues to skew to Reduce. Barclays Sticks to Its Sell Rating for AST SpaceMobile (ASTS)
• Negative Sentiment: Recent insider selling by CTO Huiwen Yao added to investor caution, even though the sale was made under a pre-arranged trading plan. Insider Selling: AST SpaceMobile (NASDAQ:ASTS) CTO Sells 40,000 Shares of Stock

Insider Activity

In other news, CTO Huiwen Yao sold 40,000 shares of AST SpaceMobile stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $96.37, for a total transaction of $3,854,800.00. Following the completion of the sale, the chief technology officer directly owned 34,750 shares in the company, valued at approximately $3,348,857.50. This trade represents a 53.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Andrew Martin Johnson sold 5,000 shares of AST SpaceMobile stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $90.25, for a total transaction of $451,250.00. Following the sale, the chief financial officer owned 565,805 shares of the company’s stock, valued at approximately $51,063,901.25. The trade was a 0.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 3,140,000 shares of company stock worth $279,903,150 in the last three months. 20.89% of the stock is currently owned by company insiders.

AST SpaceMobile Price Performance

Shares of NASDAQ:ASTS opened at $88.71 on Wednesday. The company has a quick ratio of 18.37, a current ratio of 18.47 and a debt-to-equity ratio of 1.11. The company has a market cap of $34.43 billion, a P/E ratio of -49.84 and a beta of 2.70. AST SpaceMobile, Inc. has a 52 week low of $34.21 and a 52 week high of $133.86. The company has a 50-day moving average price of $89.89 and a 200 day moving average price of $87.38.

AST SpaceMobile (NASDAQ:ASTS) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.66) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.43). The firm had revenue of $14.74 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%. AST SpaceMobile’s revenue for the quarter was up 1952.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.20) EPS. Research analysts predict that AST SpaceMobile, Inc. will post -1.47 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Wall Street Zen lowered AST SpaceMobile from a “sell” rating to a “strong sell” rating in a report on Wednesday, April 15th. Zacks Research raised AST SpaceMobile from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. UBS Group lowered their price target on AST SpaceMobile from $85.00 to $80.00 and set a “neutral” rating on the stock in a report on Tuesday, May 12th. William Blair reissued a “market perform” rating on shares of AST SpaceMobile in a report on Friday, May 29th. Finally, Deutsche Bank Aktiengesellschaft lowered AST SpaceMobile from a “buy” rating to a “hold” rating and lowered their price target for the stock from $117.00 to $106.00 in a report on Friday, May 29th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $81.33.

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.