Corient Private Wealth LLC Has $1.21 Million Position in AST SpaceMobile, Inc. $ASTS

Corient Private Wealth LLC boosted its position in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 128.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 16,939 shares of the company’s stock after buying an additional 9,526 shares during the period. Corient Private Wealth LLC’s holdings in AST SpaceMobile were worth $1,210,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Calton & Associates Inc. increased its position in AST SpaceMobile by 0.8% during the 4th quarter. Calton & Associates Inc. now owns 13,579 shares of the company’s stock worth $986,000 after buying an additional 104 shares during the period. Investmark Advisory Group LLC boosted its position in shares of AST SpaceMobile by 2.7% in the fourth quarter. Investmark Advisory Group LLC now owns 4,645 shares of the company’s stock valued at $337,000 after acquiring an additional 120 shares during the period. ORG Partners LLC boosted its position in shares of AST SpaceMobile by 4.2% in the fourth quarter. ORG Partners LLC now owns 3,283 shares of the company’s stock valued at $238,000 after acquiring an additional 133 shares during the period. Atlantic Union Bankshares Corp grew its stake in shares of AST SpaceMobile by 18.2% in the fourth quarter. Atlantic Union Bankshares Corp now owns 923 shares of the company’s stock valued at $67,000 after acquiring an additional 142 shares in the last quarter. Finally, Larson Financial Group LLC grew its stake in shares of AST SpaceMobile by 39.0% in the fourth quarter. Larson Financial Group LLC now owns 513 shares of the company’s stock valued at $37,000 after acquiring an additional 144 shares in the last quarter. 60.95% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at AST SpaceMobile

In other news, Director Julio A. Torres sold 15,000 shares of AST SpaceMobile stock in a transaction dated 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 sale, the director directly owned 43,239 shares of the company’s stock, valued at approximately $3,300,865.26. This trade represents a 25.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Hiroshi Mikitani sold 1,690,000 shares of the business’s stock in a transaction dated Tuesday, April 14th. The stock was sold at an average price of $91.42, for a total value of $154,499,800.00. Following the sale, the insider owned 29,330,155 shares in the company, valued at approximately $2,681,362,770.10. This trade represents a 5.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 3,145,809 shares of company stock worth $280,645,292 in the last 90 days. 20.89% of the stock is currently owned by company insiders.

AST SpaceMobile Stock Performance

NASDAQ ASTS opened at $86.10 on Thursday. The firm’s fifty day moving average price is $87.26 and its two-hundred day moving average price is $89.41. The stock has a market cap of $33.42 billion, a PE ratio of -48.37 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, Inc. has a fifty-two week low of $36.08 and a fifty-two week high of $133.86.

AST SpaceMobile (NASDAQ:ASTS) last announced 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). 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 quarter in the previous year, the company posted ($0.20) earnings per share. The firm’s revenue was up 1952.2% on a year-over-year basis. On average, equities analysts expect that AST SpaceMobile, Inc. will post -1.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ASTS shares. B. Riley Financial raised their target price 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. Deutsche Bank Aktiengesellschaft downgraded AST SpaceMobile from a “buy” rating to a “hold” rating and reduced their price target for the stock from $117.00 to $106.00 in a research report on Friday, May 29th. Barclays raised their price objective on AST SpaceMobile from $60.00 to $65.00 and gave the stock an “underweight” rating in a research note on Thursday, April 9th. William Blair reaffirmed a “market perform” rating on shares of AST SpaceMobile in a report on Friday, May 29th. Finally, New Street Research set a $106.00 target price on AST SpaceMobile in a research report on Friday, May 29th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $85.09.

Key AST SpaceMobile News

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

• Positive Sentiment: Japan is reportedly preparing about 150 billion yen, or roughly $926 million, in subsidies for a Rakuten Group-led consortium working with AST SpaceMobile to build a direct-to-mobile satellite network in Japan, a major validation of ASTS’s technology and a potential source of meaningful revenue. Article Title
• Positive Sentiment: AST SpaceMobile rose sharply after reports that it is partnering with Rakuten on a Japanese satellite communications project, reinforcing investor confidence that the company is moving closer to commercialization. Article Title
• Positive Sentiment: The broader space sector also got a lift from Rocket Lab’s Iridium deal, which may have helped increase investor appetite for satellite and space communications names like ASTS.
• Neutral Sentiment: Market commentary highlighted AST SpaceMobile as a high-beta momentum name with a large cash runway, but this was more opinion-driven than a new company-specific event. AST SpaceMobile stock page

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.