AST SpaceMobile, Inc. $ASTS Shares Bought by Handelsbanken Fonder AB

Handelsbanken Fonder AB grew its stake in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 15.9% during the 2nd quarter, Holdings Channel reports. The fund owned 76,000 shares of the company’s stock after acquiring an additional 10,400 shares during the period. Handelsbanken Fonder AB’s holdings in AST SpaceMobile were worth $6,753,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ASTS. Laurel Wealth Advisors LLC acquired a new stake in AST SpaceMobile during the fourth quarter valued at approximately $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 acquiring an additional 327 shares in the last quarter. Grove Bank & Trust purchased a new position in AST SpaceMobile in the 2nd quarter worth about $27,000. Acumen Wealth Advisors LLC acquired a new stake in shares of AST SpaceMobile during the fourth quarter valued at approximately $29,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of AST SpaceMobile in the third quarter valued at $29,000. Institutional investors and hedge funds own 60.95% of the company’s stock.

AST SpaceMobile Trading Down 0.8%

ASTS opened at $70.98 on Friday. AST SpaceMobile, Inc. has a twelve month low of $36.08 and a twelve month high of $133.86. The stock has a market cap of $27.62 billion, a PE ratio of -33.17 and a beta of 2.75. The company has a fifty day moving average of $72.45 and a 200-day moving average of $84.78. The company has a quick ratio of 18.37, a current ratio of 13.05 and a debt-to-equity ratio of 1.24.

AST SpaceMobile (NASDAQ:ASTS) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.77) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.45). AST SpaceMobile had a negative net margin of 536.66% and a negative return on equity of 22.88%. The firm had revenue of $31.52 million for the quarter, compared to the consensus estimate of $34.53 million. During the same quarter in the prior year, the firm earned ($0.41) EPS. On average, sell-side analysts predict that AST SpaceMobile, Inc. will post -1.95 EPS for the current year.

Key Headlines Impacting AST SpaceMobile

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

• Positive Sentiment: AST SpaceMobile has reported a roughly $1.3 billion backlog, supporting the long-term revenue opportunity if the company can deploy satellites and begin scaling service quickly. Deployment progress has remained a key focus for investors, while bullish commentary argues that the company’s subscriber potential could support its valuation. AST SpaceMobile Has a $1.3B Backlog
• Positive Sentiment: An analyst upgrade and a separate Cantor Fitzgerald view that the shares could rise provided near-term support, reinforcing the bullish case around AST SpaceMobile’s direct-to-device satellite network. AST SpaceMobile Stock Price Up After Analyst Upgrade
• Neutral Sentiment: Analyst coverage remains mixed. One comparison concluded that IBM’s steadier earnings outlook and lower valuation currently make it the relatively safer technology investment, even though ASTS has delivered stronger stock gains over time. AST SpaceMobile vs. IBM
• Negative Sentiment: Second-quarter revenue of $31.5 million missed expectations of approximately $34.5 million, while the net loss widened to $230.9 million. The company also missed consensus EPS estimates as operating expenses surged, raising concerns about cash usage and the pace of commercialization. Does ASTS Stock Warrant Caution
• Negative Sentiment: Competition from SpaceX’s Starlink, potential deployment delays and what analysts describe as an inflated valuation are weighing on sentiment. Investors appear to be demanding evidence that AST SpaceMobile can build its network fast enough to convert its backlog into dependable revenue. ASTS and RKLB Chase the SpaceX Playbook

Analyst Upgrades and Downgrades

Several analysts have commented on ASTS shares. Cantor Fitzgerald boosted their target price on shares of AST SpaceMobile from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Tuesday. William Blair reiterated a “market perform” rating on shares of AST SpaceMobile in a research report on Friday, May 29th. Roth Capital restated a “buy” rating and issued a $108.00 price objective on shares of AST SpaceMobile in a research report on Tuesday, May 12th. B. Riley Financial upgraded shares of AST SpaceMobile from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a research note on Friday, July 17th. Finally, Piper Sandler cut their target price on shares of AST SpaceMobile from $100.00 to $98.00 and set an “overweight” rating for the company in a research note on Tuesday. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, AST SpaceMobile currently has a consensus rating of “Hold” and an average target price of $85.98.

Insider Activity

In related news, CTO Huiwen Yao sold 40,000 shares of AST SpaceMobile stock in a transaction on Friday, June 5th. The shares were sold at an average price of $96.37, for a total value of $3,854,800.00. Following the transaction, the chief technology officer owned 34,750 shares in the company, valued at $3,348,857.50. This trade represents a 53.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Andrew Martin Johnson sold 45,809 shares of AST SpaceMobile stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $93.81, for a total value of $4,297,342.29. Following the completion of the transaction, the chief financial officer directly owned 503,619 shares in the company, valued at $47,244,498.39. This trade represents a 8.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 90,809 shares of company stock valued at $8,603,392. Corporate insiders own 20.89% of the company’s stock.

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.