Praxis Investment Management Inc. Invests $207,000 in AST SpaceMobile, Inc. $ASTS

Praxis Investment Management Inc. acquired a new position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) during the second quarter, Holdings Channel reports. The institutional investor acquired 4,430 shares of the company’s stock, valued at approximately $207,000.

Other large investors have also modified their holdings of the company. Sunbelt Securities Inc. increased its position in shares of AST SpaceMobile by 61.9% during the first quarter. Sunbelt Securities Inc. now owns 1,321 shares of the company’s stock worth $30,000 after acquiring an additional 505 shares during the period. GAMMA Investing LLC increased its position in shares of AST SpaceMobile by 388.7% during the first quarter. GAMMA Investing LLC now owns 1,559 shares of the company’s stock worth $35,000 after acquiring an additional 1,240 shares during the period. Financial Gravity Asset Management Inc. purchased a new stake in shares of AST SpaceMobile during the first quarter worth $41,000. Close Asset Management Ltd increased its position in shares of AST SpaceMobile by 72.4% during the first quarter. Close Asset Management Ltd now owns 1,810 shares of the company’s stock worth $41,000 after acquiring an additional 760 shares during the period. Finally, ORG Partners LLC purchased a new stake in shares of AST SpaceMobile during the first quarter worth $48,000. Hedge funds and other institutional investors own 60.95% of the company’s stock.

Insider Buying and Selling at AST SpaceMobile

In related news, CFO Andrew Martin Johnson sold 20,000 shares of AST SpaceMobile stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $52.48, for a total transaction of $1,049,600.00. Following the sale, the chief financial officer directly owned 397,485 shares in the company, valued at $20,860,012.80. This trade represents a 4.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Huiwen Yao sold 40,000 shares of AST SpaceMobile stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $40.58, for a total transaction of $1,623,200.00. Following the sale, the chief technology officer owned 4,750 shares in the company, valued at $192,755. This represents a 89.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. 41.80% of the stock is owned by company insiders.

AST SpaceMobile Price Performance

Shares of NASDAQ:ASTS opened at $83.49 on Monday. The company’s fifty day moving average price is $54.89 and its 200 day moving average price is $42.57. AST SpaceMobile, Inc. has a 12 month low of $17.50 and a 12 month high of $102.79. The company has a debt-to-equity ratio of 0.42, a current ratio of 8.23 and a quick ratio of 8.23. The firm has a market capitalization of $29.93 billion, a P/E ratio of -44.17 and a beta of 2.41.

AST SpaceMobile (NASDAQ:ASTS) last announced its quarterly earnings results on Monday, August 11th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.22). AST SpaceMobile had a negative return on equity of 26.81% and a negative net margin of 7,213.90%.The company had revenue of $1.16 million for the quarter, compared to analyst estimates of $6.37 million. As a group, sell-side analysts predict that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Barclays lowered AST SpaceMobile from an “overweight” rating to an “underweight” rating and set a $60.00 price objective on the stock. in a research report on Friday. William Blair initiated coverage on shares of AST SpaceMobile in a research report on Thursday, August 21st. They set a “market perform” rating for the company. Zacks Research raised shares of AST SpaceMobile from a “strong sell” rating to a “hold” rating in a research report on Monday, August 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AST SpaceMobile in a research report on Wednesday, October 8th. Finally, Scotiabank cut shares of AST SpaceMobile from a “sector perform” rating to a “sector underperform” rating and set a $42.90 price objective for the company. in a research report on Tuesday, October 7th. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $45.27.

AST SpaceMobile Profile

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.