Fox Hill Wealth Management Increases Stock Position in AST SpaceMobile, Inc. $ASTS

Fox Hill Wealth Management grew its position in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 72.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 16,205 shares of the company’s stock after purchasing an additional 6,828 shares during the period. Fox Hill Wealth Management’s holdings in AST SpaceMobile were worth $1,177,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Crewe Advisors LLC purchased a new position in shares of AST SpaceMobile in the 4th quarter worth about $25,000. Laurel Wealth Advisors LLC purchased a new position in shares of AST SpaceMobile in the 4th quarter worth about $25,000. Byrne Asset Management LLC purchased a new position in shares of AST SpaceMobile in the 4th quarter worth about $29,000. Harvest Fund Management Co. Ltd purchased a new position in shares of AST SpaceMobile in the 3rd quarter worth about $29,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of AST SpaceMobile in the 4th quarter worth about $33,000. 60.95% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about AST SpaceMobile

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

• Positive Sentiment: Space stocks are broadly catching a bid, and AST SpaceMobile is benefiting from optimism around a possible SpaceX IPO that is improving sentiment for the entire space sector. Virgin Galactic Soars 20%, AST SpaceMobile Rises 7%, Planet Labs Gains 6%, Rocket Lab Advances 5% as Space Stocks Catch a Bid
• Positive Sentiment: AST SpaceMobile’s confirmed June 17 satellite launch is a near-term operational catalyst that could support the company’s growth story and keep investor attention on the stock. AST SpaceMobile Stock Climbs Ahead of SpaceX IPO As BlueBird Launch Date Confirmed for June 17
• Neutral Sentiment: Analysts are revisiting ASTS after its strong rebound since the last earnings report, but the stock still faces questions about whether the rally can continue. AST SpaceMobile (ASTS) Up 21.6% Since Last Earnings Report: Can It Continue?
• Neutral Sentiment: Coverage is also focused on how ASTS compares with Verizon in the satellite connectivity market, highlighting the company’s long-term strategy rather than an immediate catalyst. VZ vs. ASTS: Which Connectivity Stock is the Better Buy?
• Negative Sentiment: Some reports warn that the stock remains volatile after recent pullbacks, with analyst downgrades and heavy insider selling adding caution to the bullish setup. AST SpaceMobile’s SpaceX Catalyst Could Come With a Volatility Warning
• Negative Sentiment: Recent insider selling by a company executive may be weighing on sentiment, even as launch and sector catalysts remain in focus. Huiwen Yao Sells 40,000 Shares of AST SpaceMobile (NASDAQ:ASTS) Stock

AST SpaceMobile Stock Up 11.7%

Shares of NASDAQ ASTS opened at $97.56 on Friday. 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 $37.86 billion, a P/E ratio of -54.81 and a beta of 2.70. AST SpaceMobile, Inc. has a 52 week low of $35.81 and a 52 week high of $133.86. The business has a 50-day simple moving average of $90.45 and a two-hundred day simple moving average of $87.96.

AST SpaceMobile (NASDAQ:ASTS) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.66) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.43). AST SpaceMobile had a negative net margin of 573.67% and a negative return on equity of 24.87%. The company had revenue of $14.74 million for the quarter, compared to the consensus estimate of $39.01 million. During the same quarter in the prior year, the company earned ($0.20) earnings per share. The company’s quarterly revenue was up 1952.2% on a year-over-year basis. Research analysts anticipate that AST SpaceMobile, Inc. will post -1.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ASTS has been the topic of a number of research analyst reports. William Blair reissued a “market perform” rating on shares of AST SpaceMobile in a report on Friday, May 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of AST SpaceMobile in a report on Friday, March 27th. Deutsche Bank Aktiengesellschaft downgraded shares of AST SpaceMobile from a “buy” rating to a “hold” rating and cut their price target for the stock from $117.00 to $106.00 in a report on Friday, May 29th. New Street Research set a $106.00 price target on shares of AST SpaceMobile in a report on Friday, May 29th. Finally, B. Riley Financial boosted their price target on shares of AST SpaceMobile from $75.00 to $85.00 and gave the stock a “neutral” rating in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, AST SpaceMobile presently has a consensus rating of “Reduce” and a consensus target price of $81.33.

Insider Activity

In related news, Director Julio A. Torres sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $76.34, for a total transaction of $1,145,100.00. Following the sale, the director owned 43,239 shares of the company’s stock, valued at approximately $3,300,865.26. This represents a 25.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Andrew Martin Johnson sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $90.25, for a total transaction of $451,250.00. Following the sale, the chief financial officer directly owned 565,805 shares in the company, valued at $51,063,901.25. This trade represents a 0.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 3,140,000 shares of company stock worth $279,903,150. Insiders own 20.89% of the company’s stock.

About AST SpaceMobile

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.