GGM Financials LLC Acquires Shares of 129,509 AST SpaceMobile, Inc. $ASTS

GGM Financials LLC acquired a new stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 129,509 shares of the company’s stock, valued at approximately $6,052,000. AST SpaceMobile makes up 1.2% of GGM Financials LLC’s portfolio, making the stock its 21st largest position.

Other large investors have also bought and sold shares of the company. Sunbelt Securities Inc. lifted its stake in AST SpaceMobile by 61.9% during the 1st quarter. Sunbelt Securities Inc. now owns 1,321 shares of the company’s stock valued at $30,000 after acquiring an additional 505 shares in the last quarter. CWM LLC lifted its stake in AST SpaceMobile by 77.9% during the 2nd quarter. CWM LLC now owns 1,350 shares of the company’s stock valued at $63,000 after acquiring an additional 591 shares in the last quarter. GAMMA Investing LLC lifted its stake in AST SpaceMobile by 388.7% during the 1st quarter. GAMMA Investing LLC now owns 1,559 shares of the company’s stock valued at $35,000 after acquiring an additional 1,240 shares in the last quarter. Financial Gravity Asset Management Inc. bought a new position in AST SpaceMobile during the 1st quarter valued at $41,000. Finally, Close Asset Management Ltd lifted its stake in AST SpaceMobile by 72.4% during the 1st quarter. Close Asset Management Ltd now owns 1,810 shares of the company’s stock valued at $41,000 after acquiring an additional 760 shares in the last quarter. 60.95% of the stock is currently owned by institutional investors.

AST SpaceMobile Trading Up 7.8%

Shares of ASTS opened at $79.45 on Tuesday. The business has a 50-day moving average of $58.23 and a 200 day moving average of $44.86. AST SpaceMobile, Inc. has a fifty-two week low of $17.50 and a fifty-two week high of $102.79. The firm has a market cap of $28.48 billion, a P/E ratio of -42.04 and a beta of 2.41. The company has a debt-to-equity ratio of 0.42, a quick ratio of 8.23 and a current ratio of 8.23.

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

Insider Transactions at AST SpaceMobile

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on ASTS. William Blair began coverage on AST SpaceMobile in a research note on Thursday, August 21st. They set a “market perform” rating on the stock. Roth Capital reiterated a “buy” rating on shares of AST SpaceMobile in a research note on Tuesday, August 12th. Zacks Research cut AST SpaceMobile from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of AST SpaceMobile in a research note on Wednesday, October 8th. Finally, UBS Group cut AST SpaceMobile from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $62.00 to $43.00 in a research note on Tuesday, September 9th. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” 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.