16,015 Shares in AST SpaceMobile, Inc. $ASTS Bought by Castle Rock Wealth Management LLC

Castle Rock Wealth Management LLC purchased a new stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 16,015 shares of the company’s stock, valued at approximately $1,379,000.

Other institutional investors have also added to or reduced their stakes in the company. Focus Partners Wealth increased its position in shares of AST SpaceMobile by 8,016.7% in the fourth quarter. Focus Partners Wealth now owns 1,269,609 shares of the company’s stock valued at $92,000,000 after acquiring an additional 1,253,967 shares during the period. KPP Advisory Services LLC purchased a new stake in shares of AST SpaceMobile during the fourth quarter worth about $1,649,000. M&T Bank Corp grew its stake in shares of AST SpaceMobile by 1,062.9% in the fourth quarter. M&T Bank Corp now owns 77,994 shares of the company’s stock worth $5,665,000 after purchasing an additional 71,287 shares during the last quarter. ABN Amro Investment Solutions bought a new stake in shares of AST SpaceMobile in the first quarter worth about $996,000. Finally, Arrowpoint Investment Partners Singapore Pte. Ltd. purchased a new position in AST SpaceMobile during the 4th quarter valued at about $2,290,000. Hedge funds and other institutional investors own 60.95% of the company’s stock.

Analyst Ratings Changes

ASTS has been the subject of a number of recent analyst reports. Scotiabank raised AST SpaceMobile from a “sector underperform” rating to a “sector perform” rating and set a $50.80 price target for the company in a research report on Wednesday, July 29th. Roth Capital reiterated a “buy” rating and issued a $108.00 price objective on shares of AST SpaceMobile in a research report on Tuesday, May 12th. UBS Group reduced their target price on AST SpaceMobile from $85.00 to $80.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 12th. Wall Street Zen downgraded AST SpaceMobile from a “sell” rating to a “strong sell” rating in a report on Wednesday, April 15th. Finally, Deutsche Bank Aktiengesellschaft lowered AST SpaceMobile from a “buy” rating to a “hold” rating and dropped their price target for the stock from $117.00 to $106.00 in a research note on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $87.60.

AST SpaceMobile Stock Performance

AST SpaceMobile stock opened at $67.36 on Friday. AST SpaceMobile, Inc. has a fifty-two week low of $36.08 and a fifty-two week high of $133.86. The stock’s 50 day simple moving average is $76.79 and its two-hundred day simple moving average is $86.31. The company has a debt-to-equity ratio of 1.11, a quick ratio of 18.37 and a current ratio of 18.47. The stock has a market cap of $26.14 billion, a price-to-earnings ratio of -37.84 and a beta of 2.75.

AST SpaceMobile (NASDAQ:ASTS) last announced its earnings results on Monday, May 11th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.43). The firm had revenue of $14.73 million during the quarter, compared to the consensus estimate of $39.01 million. AST SpaceMobile had a negative return on equity of 24.87% and a negative net margin of 573.67%.The firm’s revenue was up 1952.2% on a year-over-year basis. During the same period in the prior year, the company posted ($0.20) EPS. As a group, analysts expect that AST SpaceMobile, Inc. will post -1.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In other AST SpaceMobile news, Director Julio A. Torres sold 15,000 shares of the stock in a transaction 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 completion of the transaction, the director owned 43,239 shares in the company, valued at approximately $3,300,865.26. This represents a 25.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Andrew Martin Johnson sold 45,809 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $93.81, for a total value of $4,297,342.29. Following the transaction, the chief financial officer directly owned 503,619 shares of the company’s stock, valued at $47,244,498.39. This represents a 8.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 105,809 shares of company stock valued at $9,748,492 over the last ninety days. Company insiders own 20.89% of the company’s stock.

Key Stories Impacting AST SpaceMobile

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

• Positive Sentiment: Japan approval expands the addressable market. AST SpaceMobile secured regulatory approval to provide direct-to-cell satellite services in Japan with Rakuten Mobile. The partnership could support future connectivity revenue in a major, mobile-heavy market and validates the company’s commercial rollout strategy. AST SpaceMobile Secures Japan Direct To Cell Approval
• Positive Sentiment: European network integration is progressing. Testing is underway with Vodafone, Deutsche Telekom, Orange, and other mobile operators across the U.K., Ireland, Romania, France, Germany, Spain, the Czech Republic, and Ukraine. These relationships improve the company’s prospects for launching service across Europe. AST SpaceMobile Accelerates Presence Across Europe
• Positive Sentiment: Satellite deployment remains on schedule. The successful launch of BlueBird satellites 11, 12, and 13 increases network capacity and supports AST SpaceMobile’s plan to begin beta services later this year. AST SpaceMobile Announces Successful Orbital Launch
• Neutral Sentiment: Sector momentum is providing some support. Space-related stocks rallied after SpaceX’s lockup expiration failed to produce the expected selling pressure, helping lift satellite peers including ASTS. However, this is broader industry sentiment rather than an AST SpaceMobile-specific catalyst. Space Stocks Rally After SpaceX Lockup Expiration
• Negative Sentiment: Earnings uncertainty and valuation are weighing on the shares. AST SpaceMobile is scheduled to report second-quarter results after the close on Aug. 10. Investors are likely focused on cash usage, losses, revenue conversion, and the timing of commercial service. Recent analysis also notes that the stock’s substantial long-term gains and ambitious growth expectations leave limited room for execution disappointments. AST SpaceMobile Earnings Preview

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.