Griffin Asset Management Inc. Makes New $1.35 Million Investment in AST SpaceMobile, Inc. $ASTS

Griffin Asset Management Inc. purchased a new position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) in the fourth quarter, Holdings Channel reports. The fund purchased 18,555 shares of the company’s stock, valued at approximately $1,348,000.

Other institutional investors also recently bought and sold shares of the company. Crewe Advisors LLC purchased a new position in AST SpaceMobile during the 4th quarter worth approximately $25,000. Laurel Wealth Advisors LLC purchased a new position in AST SpaceMobile during the 4th quarter worth approximately $25,000. Byrne Asset Management LLC purchased a new position in AST SpaceMobile during the 4th quarter worth approximately $29,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in AST SpaceMobile during the 4th quarter worth approximately $33,000. Finally, REAP Financial Group LLC purchased a new stake in AST SpaceMobile during the third quarter worth $25,000. 60.95% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other AST SpaceMobile news, Director Julio A. Torres sold 15,000 shares of AST SpaceMobile stock in a transaction 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 $3,300,865.26. The trade was a 25.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Hiroshi Mikitani sold 1,350,000 shares of AST SpaceMobile stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $86.22, for a total transaction of $116,397,000.00. Following the sale, the insider directly owned 27,980,155 shares in the company, valued at approximately $2,412,448,964.10. This trade represents a 4.60% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,095,000 shares of company stock valued at $275,597,100 in the last 90 days. 20.89% of the stock is owned by insiders.

AST SpaceMobile Price Performance

Shares of NASDAQ ASTS opened at $89.58 on Thursday. The firm has a market cap of $34.22 billion, a PE ratio of -50.33 and a beta of 2.60. The firm has a fifty day moving average of $84.48 and a 200 day moving average of $83.20. The company has a debt-to-equity ratio of 1.11, a quick ratio of 18.37 and a current ratio of 18.47. AST SpaceMobile, Inc. has a one year low of $22.47 and a one year high of $129.89.

AST SpaceMobile (NASDAQ:ASTS) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.66) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.43). The company had revenue of $14.74 million during the quarter, compared to analysts’ expectations of $39.01 million. AST SpaceMobile had a negative return on equity of 24.87% and a negative net margin of 573.67%.AST SpaceMobile’s revenue was up 1952.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.20) EPS. As a group, research analysts predict that AST SpaceMobile, Inc. will post -1.47 EPS for the current fiscal year.

AST SpaceMobile News Roundup

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

• Positive Sentiment: Reports that AT&T and Verizon are backing a $1.2 billion broadband bet in space technology highlight growing carrier support for AST SpaceMobile’s satellite-to-phone model, which could expand future revenue opportunities. AT&T, Verizon back $1.2B broadband bet in space tech leader
• Positive Sentiment: Orange announced new partnerships with AST SpaceMobile to expand direct-to-cell satellite services, including trials in Romania, adding another validation point for the company’s commercial rollout. Orange Satellite And Cyber Moves Add New Angles To Valuation Story
• Positive Sentiment: Technical coverage pointed to a bullish “buy” signal after ASTS cleared a key trendline, suggesting traders are still adding to the recent rally. Satellite Stock ‘Buy’ Signal Could Mean More Gains
• Neutral Sentiment: AST SpaceMobile presented at J.P. Morgan’s Global Technology, Media and Communications Conference, keeping investor attention on the company’s strategy and execution. AST SpaceMobile, Inc. (ASTS) Presents at J.P. Morgan 54th Annual Global Technology, Media and Communications Conference Transcript
• Neutral Sentiment: Analyst commentary noted rising satellite-based telecom demand and ASTS’s telecom partnerships, but did not add a fresh catalyst beyond the company’s existing growth narrative. Can Rising Satellite-Based Telecom Services Boost ASTS’ Future Profit?
• Negative Sentiment: One valuation-focused article cautioned that ASTS’s strong recent share price run has pushed investors to reexamine whether the stock’s current momentum has already priced in a lot of future growth. A Look At AST SpaceMobile (ASTS) Valuation After Strong Recent Share Price Momentum

Analysts Set New Price Targets

A number of brokerages recently issued reports on ASTS. B. Riley Financial increased 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. Weiss Ratings reissued a “sell (d-)” rating on shares of AST SpaceMobile in a report on Friday, March 27th. Roth Mkm reissued a “buy” rating and set a $108.00 price target on shares of AST SpaceMobile in a report on Tuesday, May 12th. Wall Street Zen downgraded shares of AST SpaceMobile from a “sell” rating to a “strong sell” rating in a report on Wednesday, April 15th. Finally, Barclays increased their price target on shares of AST SpaceMobile from $60.00 to $65.00 and gave the stock an “underweight” rating in a report on Thursday, April 9th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $79.45.

AST SpaceMobile 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.