TTRF Capital Ltd acquired a new stake in AST SpaceMobile, Inc. (NASDAQ:ASTS – Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 87,700 shares of the company’s stock, valued at approximately $7,793,000. AST SpaceMobile comprises approximately 5.1% of TTRF Capital Ltd’s investment portfolio, making the stock its 3rd biggest position.
Other institutional investors have also recently made changes to their positions in the company. Laurel Wealth Advisors LLC bought a new stake in AST SpaceMobile in the 4th quarter worth $25,000. Cornerstone Planning Group LLC increased its position in shares of AST SpaceMobile by 16,350.0% in the first quarter. Cornerstone Planning Group LLC now owns 329 shares of the company’s stock valued at $27,000 after acquiring an additional 327 shares during the period. Acumen Wealth Advisors LLC bought a new position in shares of AST SpaceMobile during the fourth quarter valued at about $29,000. Harvest Fund Management Co. Ltd bought a new position in shares of AST SpaceMobile during the third quarter valued at about $29,000. Finally, Portus Wealth Advisors LLC purchased a new stake in shares of AST SpaceMobile during the first quarter worth about $30,000. Hedge funds and other institutional investors own 60.95% of the company’s stock.
AST SpaceMobile News Summary
Here are the key news stories impacting AST SpaceMobile this week:
- Positive Sentiment: AST SpaceMobile is scheduled to launch BlueBird satellites 11–13 aboard a SpaceX Falcon 9 on Aug. 5. The mission is an important step toward expanding the company’s direct-to-smartphone broadband constellation, while the satellites’ reported Guinness World Record recognition added publicity and investor enthusiasm. ASTS Stock Hits Nearly 3-Week High: Meta Exec Teases WhatsApp Over Satellite Ahead Of BlueBird Launch
- Positive Sentiment: A Meta executive highlighted work related to bringing WhatsApp connectivity over satellites, reinforcing expectations that AST SpaceMobile could benefit from partnerships supporting satellite-to-device communications. AST SpaceMobile gains as Meta executive highlights WhatsApp satellite workshop
- Positive Sentiment: Short interest reportedly declined to approximately 19.9% of the public float from 21.7% the prior week. The reduction may ease short-selling pressure ahead of the BlueBird launch, although short interest remains elevated. ASTS Short Interest Drops Below 20% Ahead Of BlueBird Launch
- Neutral Sentiment: ASTS participated in a broader rally among space stocks as traders positioned around SpaceX’s first public earnings report. The sector-wide move may support near-term sentiment but does not directly change AST SpaceMobile’s fundamentals. Space stocks rally ahead of SpaceX earnings
- Negative Sentiment: Investors are awaiting AST SpaceMobile’s Aug. 10 second-quarter earnings report. Analysts and pre-earnings commentary question the likelihood of an earnings beat, while competition, execution risk and the company’s history of losses could increase volatility. Is AST SpaceMobile Stock a Smart Buy Before Q2 Earnings Release?
- Negative Sentiment: Pomerantz LLP announced an investigation into potential claims on behalf of AST SpaceMobile investors. The investigation does not establish wrongdoing, but it introduces headline and potential litigation risk. Pomerantz investor investigation
AST SpaceMobile Price Performance
AST SpaceMobile (NASDAQ:ASTS – Get Free Report) last announced its earnings results on Monday, May 11th. The company reported ($0.66) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.43). The business had revenue of $14.73 million for the quarter, compared to the consensus estimate of $39.01 million. AST SpaceMobile had a negative net margin of 573.67% and a negative return on equity of 24.87%. The business’s quarterly revenue was up 1952.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.20) EPS. Research analysts predict that AST SpaceMobile, Inc. will post -1.38 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
ASTS has been the topic of several recent analyst reports. New Street Research set a $106.00 target price on AST SpaceMobile in a research note on Friday, May 29th. 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. Piper Sandler began coverage on AST SpaceMobile in a research report on Wednesday, July 15th. They issued an “overweight” rating and a $100.00 price objective on the stock. Barclays raised their price target on AST SpaceMobile from $60.00 to $65.00 and gave the stock an “underweight” rating in a research note on Thursday, April 9th. Finally, B. Riley Financial raised shares of AST SpaceMobile from a “neutral” rating to a “buy” rating and set a $85.00 target price for the company in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $87.60.
Check Out Our Latest Stock Report on AST SpaceMobile
Insider Activity at AST SpaceMobile
In related news, Director Julio A. Torres sold 15,000 shares of the company’s stock in a transaction that occurred 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 sale, the director owned 43,239 shares in the company, valued at $3,300,865.26. This represents a 25.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Andrew Martin Johnson sold 45,809 shares of AST SpaceMobile 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 owned 503,619 shares of the company’s stock, valued at $47,244,498.39. The trade was a 8.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 105,809 shares of company stock valued at $9,748,492 in the last three months. Company 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.
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