BlackRock Fund Advisors recently announced the acquisition of new stake in AST SpaceMobile Inc (NASDAQ:ASTS). The institutional investor has increased its shareholding in the Technology company by 34.30% to 4.96 million shares with purchase of 1.27 million shares. This fresh investment now brings its stake to 5.54% valued currently at $29.9 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.5 million to 4.18 million shares. And Geode Capital Management LLC has lifted its position by 41.42% or 0.51 million shares – to 1.75 million shares.
Currently, there are 90.16M common shares owned by the public and among those 79.41M shares have been available to trade.
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Insiders at the company have transacted a total of 5 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 4 of these insider trades were purchases, accounting for 153,848 shares. Insider sales of the common stock occurred on 1 occasions, with total insider shares sold totaling 20,678 shares.
The top 3 mutual fund holders in AST SpaceMobile Inc are Hennessy Focus Fund, Vanguard Total Stock Market ETF, and Janus Henderson Triton Fund. Hennessy Focus Fund owns 2.98 million shares of the company’s stock, all valued at over $17.98 million. The company bought an additional 0.98 million shares recently to bring their total holdings to about 3.33% of the shares outstanding. Janus Henderson Triton Fund now owns shares totaling to 2.46% of the shares outstanding.
However, the script later moved the day high at 3.3500, up 0.32%. The company’s stock has a 5-day price change of -25.57% and 3.68% over the past three months. ASTS shares are trading -48.59% year to date (YTD), with the 12-month market performance down to -38.25% lower. It has a 12-month low price of $2.73 and touched a high of $7.14 over the same period. ASTS has an average intraday trading volume of 3.01 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -38.18%, -36.53%, and -31.30% respectively.
Institutional ownership of AST SpaceMobile Inc (NASDAQ: ASTS) shares accounts for 33.10% of the company’s 90.16M shares outstanding. Mutual fund holders own 18.93%, while other institutional holders and individual stakeholders account for 28.76% and 14.51% respectively.
It has a market capitalization of $279.50M and a beta (3y monthly) value of 0.86. The earnings-per-share (ttm) stands at -$0.84. Price movements for the stock have been influenced by the stock’s volatility, which stands at 10.10% over the week and 8.92% over the month.
Analysts forecast that AST SpaceMobile Inc (ASTS) will achieve an EPS of -$0.21 for the current quarter, -$0.19 for the next quarter and -$0.83 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.21 while analysts give the company a high EPS estimate of -$0.21. Comparatively, EPS for the current quarter was -$0.14 a year ago. Earnings per share for the fiscal year are expected to decrease by -30.20%, and -11.50% over the next financial year.
Looking at the support for the ASTS, a number of firms have released research notes about the stock. B. Riley Securities stated their Buy rating for the stock in a research note on October 28, 2022, with the firm’s price target at $15.
