World Equity Group Inc. Acquires 13,593 Shares of AST SpaceMobile, Inc. $ASTS

World Equity Group Inc. grew its holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 427.9% during the first quarter, Holdings Channel.com reports. The firm owned 16,770 shares of the company’s stock after acquiring an additional 13,593 shares during the quarter. World Equity Group Inc.’s holdings in AST SpaceMobile were worth $1,390,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Crewe Advisors LLC acquired a new position in AST SpaceMobile during the fourth quarter worth $25,000. Laurel Wealth Advisors LLC bought a new stake in AST SpaceMobile during the 4th quarter worth about $25,000. Cornerstone Planning Group LLC boosted its stake in shares of AST SpaceMobile by 16,350.0% during 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. Byrne Asset Management LLC acquired a new position in shares of AST SpaceMobile during the 4th quarter worth about $29,000. Finally, Acumen Wealth Advisors LLC bought a new position in shares of AST SpaceMobile in the 4th quarter valued at about $29,000. Institutional investors own 60.95% of the company’s stock.

AST SpaceMobile Stock Up 5.1%

AST SpaceMobile stock opened at $57.80 on Friday. The firm has a market capitalization of $22.43 billion, a PE ratio of -32.47 and a beta of 2.69. The company’s 50-day moving average is $86.76 and its 200-day moving average is $89.12. AST SpaceMobile, Inc. has a fifty-two week low of $36.08 and a fifty-two week high of $133.86. The company has a debt-to-equity ratio of 1.11, a current ratio of 18.47 and a quick ratio of 18.37.

AST SpaceMobile (NASDAQ:ASTS) last issued its earnings results on Monday, May 11th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $14.73 million during the quarter, compared to the consensus estimate of $39.01 million. During the same period in the previous year, the company posted ($0.20) earnings per share. The firm’s revenue for the quarter was up 1952.2% compared to the same quarter last year. Sell-side analysts anticipate that AST SpaceMobile, Inc. will post -1.45 earnings per share for the current year.

More AST SpaceMobile News

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

• Positive Sentiment: Piper Sandler reportedly upgraded AST SpaceMobile to Strong Buy, suggesting at least one bullish analyst sees value after the selloff.
• Positive Sentiment: Some market commentary says the $1 billion notes offering may be less dilutive than feared, with proponents arguing the market has misunderstood the financing impact.
• Positive Sentiment: Long-term optimism remains tied to ASTS’s strategy to build a space-based cellular network for standard smartphones, with nearly 60 global carriers committed and access to a large subscriber base.
• Neutral Sentiment: Several articles framed the move as part of a broader space-stock selloff, with ASTS trading alongside weakness in other names in the sector.
• Negative Sentiment: ASTS priced $1 billion of 1.625% convertible notes due 2034, which sparked concerns about financing risk and potential shareholder dilution.
• Negative Sentiment: The company also disclosed a delay to its commercial satellite service timeline, adding execution concerns to the investment case.
• Negative Sentiment: Analyst and media coverage pointed to weakening sentiment, valuation concerns, and a consensus Reduce rating, all of which are weighing on the stock.

Insiders Place Their Bets

In other news, CTO Huiwen Yao sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $96.37, for a total value of $3,854,800.00. Following the completion of the sale, the chief technology officer directly owned 34,750 shares of the company’s stock, valued at $3,348,857.50. This trade represents a 53.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Julio A. Torres sold 15,000 shares of AST SpaceMobile stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $76.34, for a total value of $1,145,100.00. Following the transaction, the director owned 43,239 shares of the company’s stock, valued at $3,300,865.26. This represents a 25.76% 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 90 days. 20.89% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on ASTS. Deutsche Bank Aktiengesellschaft downgraded AST SpaceMobile from a “buy” rating to a “hold” rating and lowered their target price for the company from $117.00 to $106.00 in a research report on Friday, May 29th. William Blair restated a “market perform” rating on shares of AST SpaceMobile in a research note on Friday, May 29th. Barclays raised their price target on AST SpaceMobile from $60.00 to $65.00 and gave the company an “underweight” rating in a research note on Thursday, April 9th. Piper Sandler initiated coverage on AST SpaceMobile in a research note on Wednesday. They set an “overweight” rating and a $100.00 price objective on the stock. Finally, B. Riley Financial upgraded AST SpaceMobile from a “neutral” rating to a “buy” rating and set a $85.00 price objective on the stock in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $86.95.

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.