California State Teachers Retirement System Acquires 54,887 Shares of AST SpaceMobile, Inc. $ASTS

California State Teachers Retirement System grew its holdings in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 26.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 261,676 shares of the company’s stock after purchasing an additional 54,887 shares during the quarter. California State Teachers Retirement System’s holdings in AST SpaceMobile were worth $21,685,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Cornerstone Planning Group LLC boosted its holdings in shares of AST SpaceMobile by 16,350.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 329 shares of the company’s stock worth $27,000 after buying an additional 327 shares during the last quarter. Crewe Advisors LLC bought a new position in AST SpaceMobile during the fourth quarter valued at about $25,000. Laurel Wealth Advisors LLC purchased a new stake in AST SpaceMobile during the fourth quarter worth about $25,000. Portus Wealth Advisors LLC purchased a new stake in AST SpaceMobile during the first quarter worth about $30,000. Finally, Advocate Investing Services LLC bought a new stake in AST SpaceMobile in the first quarter worth about $31,000. 60.95% of the stock is currently owned by institutional investors.

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 directly owned 43,239 shares in the company, valued at approximately $3,300,865.26. This represents a 25.76% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Andrew Martin Johnson sold 45,809 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $93.81, for a total transaction of $4,297,342.29. Following the sale, the chief financial officer owned 503,619 shares in the company, valued at $47,244,498.39. The trade was a 8.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 105,809 shares of company stock valued at $9,748,492 over the last quarter. Company insiders own 20.89% of the company’s stock.

AST SpaceMobile News Roundup

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

• Positive Sentiment: AST SpaceMobile is preparing to launch three BlueBird satellites on August 5. A successful mission could expand coverage in priority markets, support the company’s delayed network rollout, and strengthen its position in direct-to-smartphone connectivity. AST SpaceMobile, Inc. (ASTS) Stock: Slightly Surges as Three BlueBird Satellites Raise the Stakes
• Positive Sentiment: The company has reportedly secured its next launch for its large BlueBird satellites, again working with a major launch partner. Additional launch capacity would help AST SpaceMobile build out its planned global cellular network. AST SpaceMobile Locks In Next Launch For Its Mega Satellites
• Positive Sentiment: Scotiabank raised AST SpaceMobile to “Sector Perform,” indicating a more constructive view of the shares after their recent decline, although the rating is not an outright bullish recommendation. AST SpaceMobile Raised to Sector Perform at Scotiabank
• Neutral Sentiment: Several comparisons with Rocket Lab and Intuitive Machines highlight AST SpaceMobile’s differentiated strategy: providing broadband cellular service to ordinary, unmodified smartphones. The articles are opinion-based and do not represent new company-specific developments. AST SpaceMobile vs. Rocket Lab
• Negative Sentiment: Pomerantz LLP is investigating potential claims on behalf of AST SpaceMobile investors. Such announcements can create legal and reputational overhang, though the investigation does not establish wrongdoing. Pomerantz Law Firm Investigates Claims
• Negative Sentiment: Broader selling in space stocks and AST SpaceMobile’s steep recent decline continue to signal high volatility and investor caution. The company also faces competitive pressure from Starlink while it scales its network. SpaceX Is Now Down 36% in a Month

AST SpaceMobile Trading Up 0.9%

Shares of AST SpaceMobile stock opened at $58.98 on Friday. AST SpaceMobile, Inc. has a 52-week low of $36.08 and a 52-week high of $133.86. The stock’s 50-day simple moving average is $81.16 and its 200 day simple moving average is $87.34. The stock has a market capitalization of $22.89 billion, a P/E ratio of -33.13 and a beta of 2.69. 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 (NASDAQ:ASTS) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.66) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.43). The business had revenue of $14.73 million for the quarter, compared to analysts’ expectations of $39.01 million. AST SpaceMobile had a negative net margin of 573.67% and a negative return on equity of 24.87%. AST SpaceMobile’s revenue for the quarter was up 1952.2% compared to the same quarter last year. During the same period last year, the company earned ($0.20) earnings per share. As a group, research analysts anticipate that AST SpaceMobile, Inc. will post -1.38 EPS for the current year.

Wall Street Analyst Weigh In

ASTS has been the topic of a number of research analyst reports. Piper Sandler began coverage on shares of AST SpaceMobile in a research note on Wednesday, July 15th. They issued an “overweight” rating and a $100.00 target price on the stock. New Street Research set a $106.00 price target on shares of AST SpaceMobile in a research note on Friday, May 29th. Barclays lifted 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. Wall Street Zen downgraded AST SpaceMobile from a “sell” rating to a “strong sell” rating in a research note on Wednesday, April 15th. Finally, Deutsche Bank Aktiengesellschaft downgraded AST SpaceMobile from a “buy” rating to a “hold” rating and dropped their price objective for the company from $117.00 to $106.00 in a research note on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, AST SpaceMobile currently has an average rating of “Hold” and an average price target of $87.60.

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.