Royal Bank of Canada Raises Stock Holdings in AST SpaceMobile, Inc. $ASTS

Royal Bank of Canada lifted its position in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 10.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 326,082 shares of the company’s stock after purchasing an additional 29,521 shares during the quarter. Royal Bank of Canada owned about 0.09% of AST SpaceMobile worth $27,022,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ASTS. Laurel Wealth Advisors LLC purchased a new position in shares of AST SpaceMobile during the 4th quarter valued at about $25,000. Cornerstone Planning Group LLC grew its holdings 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 acquiring an additional 327 shares during the period. Acumen Wealth Advisors LLC acquired a new stake in AST SpaceMobile during the fourth quarter worth about $29,000. Harvest Fund Management Co. Ltd purchased a new position in AST SpaceMobile during the third quarter valued at approximately $29,000. Finally, Portus Wealth Advisors LLC purchased a new position in AST SpaceMobile during the first quarter valued at approximately $30,000. Institutional investors and hedge funds own 60.95% of the company’s stock.

AST SpaceMobile Stock Performance

ASTS opened at $70.31 on Wednesday. The firm’s fifty day simple moving average is $79.33 and its two-hundred day simple moving average is $86.88. AST SpaceMobile, Inc. has a 52-week low of $36.08 and a 52-week high of $133.86. The company has a market cap of $27.29 billion, a price-to-earnings ratio of -39.50 and a beta of 2.75. The company has a quick ratio of 18.37, a current ratio of 18.47 and a debt-to-equity ratio of 1.11.

AST SpaceMobile (NASDAQ:ASTS) last released 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 return on equity of 24.87% and a negative net margin of 573.67%.The company had revenue of $14.73 million for the quarter, compared to analyst estimates of $39.01 million. During the same quarter last year, the company earned ($0.20) EPS. The firm’s revenue for the quarter was up 1952.2% on a year-over-year basis. Equities analysts anticipate that AST SpaceMobile, Inc. will post -1.38 earnings per share for the current fiscal year.

AST SpaceMobile News Roundup

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

• Positive Sentiment: AST SpaceMobile is scheduled to launch BlueBird satellites 11–13 aboard a SpaceX Falcon 9 on Aug. 5. The mission is an important step toward expanding the company’s direct-to-smartphone broadband constellation, while the satellites’ reported Guinness World Record recognition added publicity and investor enthusiasm. ASTS Stock Hits Nearly 3-Week High: Meta Exec Teases WhatsApp Over Satellite Ahead Of BlueBird Launch
• Positive Sentiment: A Meta executive highlighted work related to bringing WhatsApp connectivity over satellites, reinforcing expectations that AST SpaceMobile could benefit from partnerships supporting satellite-to-device communications. AST SpaceMobile gains as Meta executive highlights WhatsApp satellite workshop
• Positive Sentiment: Short interest reportedly declined to approximately 19.9% of the public float from 21.7% the prior week. The reduction may ease short-selling pressure ahead of the BlueBird launch, although short interest remains elevated. ASTS Short Interest Drops Below 20% Ahead Of BlueBird Launch
• Neutral Sentiment: ASTS participated in a broader rally among space stocks as traders positioned around SpaceX’s first public earnings report. The sector-wide move may support near-term sentiment but does not directly change AST SpaceMobile’s fundamentals. Space stocks rally ahead of SpaceX earnings
• Negative Sentiment: Investors are awaiting AST SpaceMobile’s Aug. 10 second-quarter earnings report. Analysts and pre-earnings commentary question the likelihood of an earnings beat, while competition, execution risk and the company’s history of losses could increase volatility. Is AST SpaceMobile Stock a Smart Buy Before Q2 Earnings Release?
• Negative Sentiment: Pomerantz LLP announced an investigation into potential claims on behalf of AST SpaceMobile investors. The investigation does not establish wrongdoing, but it introduces headline and potential litigation risk. Pomerantz investor investigation

Analyst Ratings Changes

Several research firms recently issued reports on ASTS. Scotiabank upgraded shares of AST SpaceMobile from a “sector underperform” rating to a “sector perform” rating and set a $50.80 target price for the company in a research note on Wednesday, July 29th. Roth Capital reaffirmed a “buy” rating and issued a $108.00 price objective on shares of AST SpaceMobile in a report on Tuesday, May 12th. New Street Research set a $106.00 price objective on shares of AST SpaceMobile in a research report on Friday, May 29th. Piper Sandler initiated coverage on AST SpaceMobile in a research report on Wednesday, July 15th. They set an “overweight” rating and a $100.00 target price on the stock. Finally, UBS Group cut their price target on AST SpaceMobile from $85.00 to $80.00 and set a “neutral” rating for the company in a research note on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $87.60.

Insider Activity at AST SpaceMobile

In related news, CFO Andrew Martin Johnson sold 45,809 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer directly owned 503,619 shares in the company, valued at approximately $47,244,498.39. The trade was a 8.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Julio A. Torres sold 15,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $3,300,865.26. This represents a 25.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 105,809 shares of company stock valued at $9,748,492. 20.89% of the stock is owned by insiders.

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.