UNICOM Systems Inc. Purchases Shares of 51,000 AST SpaceMobile, Inc. $ASTS

UNICOM Systems Inc. purchased a new position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) in the second quarter, according to its most recent filing with the SEC. The firm purchased 51,000 shares of the company’s stock, valued at approximately $4,532,000.

Several other hedge funds have also recently made changes to their positions in the business. Laurel Wealth Advisors LLC acquired a new position in shares of AST SpaceMobile in the 4th quarter valued at about $25,000. Cornerstone Planning Group LLC grew its stake in AST SpaceMobile by 16,350.0% during the first quarter. Cornerstone Planning Group LLC now owns 329 shares of the company’s stock worth $27,000 after purchasing an additional 327 shares during the period. Grove Bank & Trust acquired a new stake in AST SpaceMobile during the second quarter worth approximately $27,000. Acumen Wealth Advisors LLC bought a new stake in AST SpaceMobile in the fourth quarter worth approximately $29,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in AST SpaceMobile in the third quarter worth approximately $29,000. 60.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ASTS. Piper Sandler assumed coverage on AST SpaceMobile in a research note on Wednesday, July 15th. They issued an “overweight” rating and a $100.00 price target on the stock. B. Riley Financial raised shares of AST SpaceMobile from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a research report on Friday, July 17th. Scotiabank upgraded shares of AST SpaceMobile from a “sector underperform” rating to a “sector perform” rating and set a $50.80 price objective for the company in a research note on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft downgraded shares of AST SpaceMobile from a “buy” rating to a “hold” rating and dropped their target price for the company from $117.00 to $106.00 in a research report on Friday, May 29th. Finally, Roth Capital reissued a “buy” rating and set a $108.00 target price on shares of AST SpaceMobile in a research note on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $87.60.

Insider Transactions at AST SpaceMobile

In related news, CFO Andrew Martin Johnson sold 45,809 shares of AST SpaceMobile stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $93.81, for a total value of $4,297,342.29. Following the completion of the sale, the chief financial officer owned 503,619 shares of the company’s stock, valued at approximately $47,244,498.39. This trade represents a 8.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Huiwen Yao sold 40,000 shares of AST SpaceMobile stock in a transaction 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 of the company’s stock, valued at approximately $3,348,857.50. The trade was a 53.51% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 105,809 shares of company stock valued at $9,748,492 over the last ninety days. 20.89% of the stock is owned by company insiders.

Key Headlines Impacting AST SpaceMobile

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

• Positive Sentiment: AST SpaceMobile launched three additional BlueBird satellites, reportedly doubling download speeds for direct-to-device partners. The launch strengthens the company’s network capacity ahead of its Aug. 10 earnings call and supports its goal of deploying a larger constellation by 2027. AST SpaceMobile’s Latest BlueBird Launch Raises the Stakes Ahead of Q2 Earnings
• Positive Sentiment: The company received approval to launch direct-to-cell services in Japan with Rakuten Mobile. It also announced testing and network-integration work with Vodafone, Deutsche Telekom, Orange and other operators across Europe, expanding the potential addressable market for its satellite broadband service. AST SpaceMobile Secures Japan Direct To Cell Approval
• Positive Sentiment: Strength across space-related stocks, including a rally in SpaceX despite its lockup expiration, appears to be providing a favorable sector backdrop for ASTS. SpaceX Climbs as Lockup Expiration Fails to Trigger a Selloff
• Neutral Sentiment: Investors are awaiting second-quarter results on Aug. 10. The report will be important for assessing commercial revenue growth, cash use, deployment timing and whether recent network developments are translating into financial progress. Heavily Shorted Satellite Stock Gearing Up for Earnings
• Negative Sentiment: Pomerantz LLP is investigating potential claims on behalf of AST SpaceMobile investors. The announcement creates a legal and headline risk, although it does not establish wrongdoing. Pomerantz Investor Alert

AST SpaceMobile Stock Performance

Shares of AST SpaceMobile stock opened at $71.94 on Friday. The business has a 50-day simple moving average of $75.96 and a 200 day simple moving average of $86.21. AST SpaceMobile, Inc. has a one year low of $36.08 and a one year high of $133.86. The company has a debt-to-equity ratio of 1.11, a current ratio of 18.47 and a quick ratio of 18.37. The firm has a market capitalization of $27.92 billion, a price-to-earnings ratio of -40.42 and a beta of 2.75.

AST SpaceMobile (NASDAQ:ASTS) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.43). AST SpaceMobile had a negative return on equity of 24.87% and a negative net margin of 573.67%.The firm had revenue of $14.73 million during the quarter, compared to the consensus estimate of $39.01 million. During the same quarter in the previous year, the company posted ($0.20) EPS. The firm’s revenue was up 1952.2% on a year-over-year basis. On average, research analysts anticipate that AST SpaceMobile, Inc. will post -1.38 earnings per share for the current fiscal year.

AST SpaceMobile Company 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.