Walkner Condon Financial Advisors LLC Invests $469,000 in AST SpaceMobile, Inc. $ASTS

Walkner Condon Financial Advisors LLC purchased a new stake in AST SpaceMobile, Inc. (NASDAQ:ASTS) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,036 shares of the company’s stock, valued at approximately $469,000.

Other institutional investors also recently bought and sold shares of the company. Atlantic Union Bankshares Corp purchased a new stake in shares of AST SpaceMobile in the 2nd quarter worth $28,000. Spire Wealth Management bought a new stake in shares of AST SpaceMobile in the second quarter valued at about $45,000. CWM LLC lifted its stake in AST SpaceMobile by 77.9% in the second quarter. CWM LLC now owns 1,350 shares of the company’s stock worth $63,000 after acquiring an additional 591 shares during the period. Tsfg LLC grew its holdings in AST SpaceMobile by 37.0% during the 2nd quarter. Tsfg LLC now owns 1,370 shares of the company’s stock worth $64,000 after acquiring an additional 370 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in AST SpaceMobile by 388.7% during the 1st quarter. GAMMA Investing LLC now owns 1,559 shares of the company’s stock valued at $35,000 after purchasing an additional 1,240 shares during the period. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

AST SpaceMobile Price Performance

Shares of ASTS stock opened at $69.19 on Friday. AST SpaceMobile, Inc. has a fifty-two week low of $17.50 and a fifty-two week high of $102.79. The company has a debt-to-equity ratio of 0.42, a quick ratio of 8.23 and a current ratio of 8.23. The firm has a market capitalization of $24.81 billion, a price-to-earnings ratio of -36.61 and a beta of 2.46. The stock’s 50-day simple moving average is $62.88 and its 200-day simple moving average is $47.87.

AST SpaceMobile (NASDAQ:ASTS) last released its 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). AST SpaceMobile had a negative return on equity of 26.81% and a negative net margin of 7,213.90%.The company had revenue of $1.16 million during the quarter, compared to analyst estimates of $6.37 million. As a group, equities analysts forecast that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Andrew Martin Johnson sold 20,000 shares of the company’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $52.48, for a total value of $1,049,600.00. Following the transaction, the chief financial officer directly owned 397,485 shares of the company’s stock, valued at $20,860,012.80. This represents a 4.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Huiwen Yao sold 40,000 shares of the firm’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $40.58, for a total value of $1,623,200.00. Following the completion of the transaction, the chief technology officer owned 4,750 shares of the company’s stock, valued at $192,755. This trade represents a 89.39% decrease in their position. The disclosure for this sale is available in the SEC filing. 30.90% of the stock is owned by insiders.

Analysts Set New Price Targets

ASTS has been the topic of a number of recent research reports. Zacks Research downgraded shares of AST SpaceMobile from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AST SpaceMobile in a research report on Wednesday, October 8th. Barclays lowered AST SpaceMobile from an “overweight” rating to an “underweight” rating and set a $60.00 price target for the company. in a research report on Friday, October 17th. UBS Group downgraded AST SpaceMobile from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $62.00 to $43.00 in a research report on Tuesday, September 9th. Finally, William Blair started coverage on shares of AST SpaceMobile in a report on Thursday, August 21st. They issued a “market perform” rating for the company. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $45.27.

AST SpaceMobile Company 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.