MBE Wealth Management LLC Buys 2,866 Shares of AST SpaceMobile, Inc. $ASTS

MBE Wealth Management LLC lifted its stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 6.5% in the 2nd quarter, Holdings Channel reports. The fund owned 47,155 shares of the company’s stock after acquiring an additional 2,866 shares during the quarter. AST SpaceMobile accounts for approximately 1.0% of MBE Wealth Management LLC’s investment portfolio, making the stock its 21st biggest position. MBE Wealth Management LLC’s holdings in AST SpaceMobile were worth $2,204,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Alphabet Inc. bought a new stake in shares of AST SpaceMobile during the first quarter worth $203,375,000. Rakuten Group Inc. bought a new stake in shares of AST SpaceMobile during the first quarter worth $705,398,000. Jump Financial LLC bought a new stake in shares of AST SpaceMobile during the first quarter worth $14,750,000. Two Sigma Investments LP increased its position in shares of AST SpaceMobile by 117.5% during the fourth quarter. Two Sigma Investments LP now owns 51,874 shares of the company’s stock worth $1,095,000 after acquiring an additional 28,025 shares in the last quarter. Finally, Wealthfront Advisers LLC increased its position in shares of AST SpaceMobile by 20.5% during the first quarter. Wealthfront Advisers LLC now owns 39,737 shares of the company’s stock worth $904,000 after acquiring an additional 6,753 shares in the last quarter. Institutional investors own 60.95% of the company’s stock.

AST SpaceMobile Stock Performance

Shares of ASTS stock opened at $49.39 on Friday. The stock has a market cap of $17.71 billion, a P/E ratio of -26.13 and a beta of 2.43. The company has a debt-to-equity ratio of 0.42, a current ratio of 8.23 and a quick ratio of 8.23. The company has a fifty day moving average price of $48.35 and a two-hundred day moving average price of $36.98. AST SpaceMobile, Inc. has a one year low of $17.50 and a one year high of $60.95.

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

Analysts Set New Price Targets

ASTS has been the topic of a number of research reports. B. Riley reissued a “buy” rating and issued a $44.00 price objective (up previously from $36.00) on shares of AST SpaceMobile in a research report on Monday, June 16th. Zacks Research raised shares of AST SpaceMobile from a “strong sell” rating to a “hold” rating in a research report on Monday, August 18th. Scotiabank cut their price objective on shares of AST SpaceMobile from $45.40 to $42.90 and set a “sector perform” rating on the stock in a research report on Thursday, August 7th. William Blair initiated coverage on shares of AST SpaceMobile in a research report on Thursday, August 21st. They issued a “market perform” rating on the stock. Finally, UBS Group lowered shares of AST SpaceMobile from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $62.00 to $43.00 in a research report on Tuesday, September 9th. Three analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $42.82.

Insider Transactions at AST SpaceMobile

In other 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 sale, the chief technology officer 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 filing with the SEC, which can be accessed through this link. Also, CFO Andrew Martin Johnson sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $52.48, for a total transaction of $1,049,600.00. Following the sale, the chief financial officer owned 397,485 shares of the company’s stock, valued at approximately $20,860,012.80. This represents a 4.79% decrease in their position. The disclosure for this sale can be found here. Company insiders own 34.15% of the company’s stock.

AST SpaceMobile 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.