Miller Financial Services LLC Invests $342,000 in AST SpaceMobile, Inc. $ASTS

Miller Financial Services LLC purchased a new stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 7,310 shares of the company’s stock, valued at approximately $342,000.

Several other large investors have also recently added to or reduced their stakes in ASTS. Rakuten Group Inc. bought a new position in shares of AST SpaceMobile in the first quarter valued at approximately $705,398,000. Northern Trust Corp grew its position in AST SpaceMobile by 2.7% during the 1st quarter. Northern Trust Corp now owns 1,266,315 shares of the company’s stock worth $28,796,000 after acquiring an additional 33,259 shares during the last quarter. Voya Investment Management LLC increased its holdings in AST SpaceMobile by 1,992.5% during the 1st quarter. Voya Investment Management LLC now owns 843,554 shares of the company’s stock valued at $19,182,000 after purchasing an additional 803,240 shares in the last quarter. Bank of New York Mellon Corp raised its position in AST SpaceMobile by 28.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 761,154 shares of the company’s stock valued at $35,569,000 after purchasing an additional 167,416 shares during the last quarter. Finally, Jump Financial LLC acquired a new position in AST SpaceMobile in the first quarter worth $14,750,000. 60.95% of the stock is owned by institutional investors.

Insider Activity at AST SpaceMobile

In related news, CFO Andrew Martin Johnson sold 20,000 shares of the company’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $52.48, for a total value of $1,049,600.00. Following the completion of the sale, the chief financial officer owned 397,485 shares in the company, valued at $20,860,012.80. This represents a 4.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Huiwen Yao sold 40,000 shares of the firm’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $40.58, for a total value of $1,623,200.00. Following the sale, the chief technology officer directly owned 4,750 shares in the company, valued at $192,755. The trade was a 89.39% decrease in their position. The SEC filing for this sale provides additional information. 30.90% of the stock is currently owned by corporate insiders.

AST SpaceMobile Stock Down 0.4%

Shares of NASDAQ ASTS opened at $58.01 on Thursday. AST SpaceMobile, Inc. has a 1 year low of $17.50 and a 1 year high of $102.79. The firm’s 50-day moving average is $65.96 and its 200-day moving average is $50.19. The company has a current ratio of 9.56, a quick ratio of 9.48 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $20.80 billion, a PE ratio of -46.78 and a beta of 2.46.

AST SpaceMobile (NASDAQ:ASTS) last announced its quarterly earnings data on Monday, November 10th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.27). AST SpaceMobile had a negative net margin of 1,639.59% and a negative return on equity of 27.76%. The business had revenue of $14.74 million during the quarter, compared to analyst estimates of $22.04 million. During the same quarter in the prior year, the company earned ($1.10) earnings per share. The company’s quarterly revenue was up 1236.4% on a year-over-year basis. Equities analysts expect that AST SpaceMobile, Inc. will post -0.4 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on ASTS shares. Zacks Research lowered AST SpaceMobile from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 21st. Weiss Ratings restated a “sell (e+)” rating on shares of AST SpaceMobile in a research report on Monday. Scotiabank lowered shares of AST SpaceMobile from a “sector perform” rating to a “sector underperform” rating and set a $42.90 target price on the stock. in a research report on Tuesday, October 7th. UBS Group cut shares of AST SpaceMobile from a “buy” rating to a “neutral” rating and decreased their price target for the company from $62.00 to $43.00 in a research note on Tuesday, September 9th. Finally, Barclays cut shares of AST SpaceMobile from an “overweight” rating to an “underweight” rating and set a $60.00 price objective for the company. in a research report on Friday, October 17th. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, AST SpaceMobile presently has a consensus rating of “Reduce” and an average target price of $45.27.

About AST SpaceMobile

AST SpaceMobile, Inc, together with its subsidiaries, develops and provides access to a space-based cellular broadband network for smartphones in the United States. Its SpaceMobile service provides cellular broadband services to end-users who are out of terrestrial cellular coverage. The company was founded in 2017 and is headquartered in Midland, Texas.