PAX Financial Group LLC Sells 9,850 Shares of AST SpaceMobile, Inc. $ASTS

PAX Financial Group LLC lowered its holdings in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 60.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,383 shares of the company’s stock after selling 9,850 shares during the quarter. PAX Financial Group LLC’s holdings in AST SpaceMobile were worth $464,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of ASTS. Investmark Advisory Group LLC raised its holdings in AST SpaceMobile by 2.7% in the 4th quarter. Investmark Advisory Group LLC now owns 4,645 shares of the company’s stock worth $337,000 after acquiring an additional 120 shares during the period. ORG Partners LLC raised its holdings in AST SpaceMobile by 4.2% in the 4th quarter. ORG Partners LLC now owns 3,283 shares of the company’s stock worth $238,000 after acquiring an additional 133 shares during the period. Atlantic Union Bankshares Corp raised its holdings in AST SpaceMobile by 18.2% in the 4th quarter. Atlantic Union Bankshares Corp now owns 923 shares of the company’s stock worth $67,000 after acquiring an additional 142 shares during the period. Sunbelt Securities Inc. raised its holdings in AST SpaceMobile by 22.9% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,003 shares of the company’s stock worth $49,000 after acquiring an additional 187 shares during the period. Finally, Ameriprise Financial Inc. raised its holdings in AST SpaceMobile by 3.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 6,586 shares of the company’s stock worth $323,000 after acquiring an additional 245 shares during the period. Institutional investors own 60.95% of the company’s stock.

Insider Transactions at AST SpaceMobile

In other news, major shareholder Hiroshi Mikitani sold 1,690,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $91.42, for a total transaction of $154,499,800.00. Following the transaction, the insider directly owned 29,330,155 shares in the company, valued at approximately $2,681,362,770.10. This represents a 5.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Julio A. Torres sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $76.34, for a total transaction of $1,145,100.00. Following the transaction, the director owned 43,239 shares in the company, valued at $3,300,865.26. The trade was a 25.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 3,095,000 shares of company stock worth $275,597,100. Corporate 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: AT&T, Verizon and T-Mobile announced a satellite-to-phone joint venture to extend coverage in dead zones, which investors may see as validation of AST SpaceMobile’s direct-to-device business model and a sign of growing demand for space-based mobile connectivity. Article Title
• Positive Sentiment: AST SpaceMobile publicly welcomed the carriers’ joint venture, reinforcing the idea that its space-based cellular network could become an important part of future mobile coverage efforts. Article Title
• Positive Sentiment: New Street Research launched a new space-economy coverage group and included ASTS on its initial list, which can increase investor attention and trading interest in the stock. Article Title
• Neutral Sentiment: Analyst opinion remains cautious overall, with a reported consensus rating of “Reduce,” reflecting mixed views on AST SpaceMobile’s execution and valuation. Article Title
• Negative Sentiment: Director Julio A. Torres sold 15,000 shares, a move that can weigh on sentiment because insider selling sometimes signals reduced confidence, even though he still holds a meaningful stake. Article Title
• Negative Sentiment: Recent post-earnings coverage continues to highlight ASTS’s Q1 miss, weaker forecasts, and execution risks, which may limit upside despite the positive carrier news. Article Title

Analyst Upgrades and Downgrades

ASTS has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of AST SpaceMobile from a “sell” rating to a “strong sell” rating in a report on Wednesday, April 15th. Barclays lifted their target price 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. Deutsche Bank Aktiengesellschaft set a $117.00 target price on shares of AST SpaceMobile in a report on Wednesday, April 15th. UBS Group dropped their target price on shares of AST SpaceMobile from $85.00 to $80.00 and set a “neutral” rating on the stock in a report on Tuesday. Finally, Zacks Research upgraded shares of AST SpaceMobile from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, AST SpaceMobile presently has a consensus rating of “Reduce” and an average target price of $79.45.

AST SpaceMobile Price Performance

Shares of AST SpaceMobile stock opened at $83.67 on Friday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 16.27 and a current ratio of 18.47. The firm’s 50-day simple moving average is $84.65 and its 200-day simple moving average is $82.96. AST SpaceMobile, Inc. has a twelve month low of $22.47 and a twelve month high of $129.89. The firm has a market cap of $31.96 billion, a P/E ratio of -47.01 and a beta of 2.60.

AST SpaceMobile (NASDAQ:ASTS) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.66) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.43). The firm had revenue of $14.74 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 1952.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.20) earnings per share. As a group, research analysts expect that AST SpaceMobile, Inc. will post -1.47 EPS for the current fiscal year.

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.