KPP Advisory Services LLC Purchases New Position in AST SpaceMobile, Inc. $ASTS

KPP Advisory Services LLC acquired a new stake in AST SpaceMobile, Inc. (NASDAQ:ASTS) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 6,800 shares of the company’s stock, valued at approximately $318,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ASTS. Rakuten Group Inc. bought a new position in shares of AST SpaceMobile in the 1st quarter valued at $705,398,000. Alphabet Inc. acquired a new position in AST SpaceMobile in the 1st quarter worth about $203,375,000. Voya Investment Management LLC increased its holdings in AST SpaceMobile by 1,992.5% in the 1st quarter. Voya Investment Management LLC now owns 843,554 shares of the company’s stock worth $19,182,000 after purchasing an additional 803,240 shares in the last quarter. Jump Financial LLC bought a new position in AST SpaceMobile in the first quarter valued at about $14,750,000. Finally, Nuveen LLC acquired a new stake in shares of AST SpaceMobile during the first quarter valued at about $9,218,000. Institutional investors own 60.95% of the company’s stock.

Insider Buying and Selling at AST SpaceMobile

In related news, CFO Andrew Martin Johnson sold 20,000 shares of the business’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $52.48, for a total transaction of $1,049,600.00. Following the transaction, the chief financial officer owned 397,485 shares in the company, valued at $20,860,012.80. The trade was a 4.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Huiwen Yao sold 40,000 shares of the stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $40.58, for a total transaction of $1,623,200.00. Following the transaction, the chief technology officer directly owned 4,750 shares in the company, valued at approximately $192,755. This represents a 89.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 41.80% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on ASTS. William Blair initiated coverage on AST SpaceMobile in a research note on Thursday, August 21st. They issued a “market perform” rating for the company. B. Riley reaffirmed a “buy” rating and set a $44.00 target price (up from $36.00) on shares of AST SpaceMobile in a research report on Monday, June 16th. Zacks Research upgraded AST SpaceMobile from a “strong sell” rating to a “hold” rating in a research report on Monday, August 18th. Roth Capital reissued a “buy” rating on shares of AST SpaceMobile in a research note on Tuesday, August 12th. Finally, Scotiabank cut their price objective on AST SpaceMobile from $45.40 to $42.90 and set a “sector perform” rating on the stock in a research note on Thursday, August 7th. Four equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, AST SpaceMobile presently has an average rating of “Hold” and an average target price of $45.27.

AST SpaceMobile Stock Performance

ASTS stock opened at $72.90 on Tuesday. The firm has a market cap of $26.14 billion, a PE ratio of -38.57 and a beta of 2.41. The company has a current ratio of 8.23, a quick ratio of 8.23 and a debt-to-equity ratio of 0.42. The stock has a 50-day moving average price of $48.58 and a 200-day moving average price of $38.69. AST SpaceMobile, Inc. has a 1-year low of $17.50 and a 1-year high of $74.77.

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

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.