GAMMA Investing LLC Has $8.06 Million Position in AST SpaceMobile, Inc. (NASDAQ:ASTS)

GAMMA Investing LLC boosted its holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 11,013.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,452 shares of the company’s stock after buying an additional 35,133 shares during the period. GAMMA Investing LLC’s holdings in AST SpaceMobile were worth $8,060,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of ASTS. Golden State Wealth Management LLC bought a new stake in shares of AST SpaceMobile during the fourth quarter worth $46,000. Kingsview Wealth Management LLC lifted its stake in shares of AST SpaceMobile by 23.3% during the 4th quarter. Kingsview Wealth Management LLC now owns 27,633 shares of the company’s stock worth $583,000 after buying an additional 5,223 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of AST SpaceMobile by 150.1% during the 4th quarter. Van ECK Associates Corp now owns 258,747 shares of the company’s stock worth $5,460,000 after buying an additional 155,310 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of AST SpaceMobile by 2.0% during the 4th quarter. Rhumbline Advisers now owns 216,718 shares of the company’s stock worth $4,573,000 after buying an additional 4,168 shares during the last quarter. Finally, Americana Partners LLC raised its stake in AST SpaceMobile by 5.2% in the 4th quarter. Americana Partners LLC now owns 27,047 shares of the company’s stock worth $571,000 after purchasing an additional 1,326 shares in the last quarter. 60.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AST SpaceMobile

In related news, CTO Huiwen Yao sold 55,000 shares of the company’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $26.82, for a total value of $1,475,100.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 34.15% of the company’s stock.

AST SpaceMobile Trading Up 1.1%

Shares of AST SpaceMobile stock opened at $31.19 on Monday. AST SpaceMobile, Inc. has a 1 year low of $8.09 and a 1 year high of $39.08. The firm has a market cap of $9.87 billion, a PE ratio of -14.71 and a beta of 2.02. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80. The company has a 50 day simple moving average of $24.21 and a two-hundred day simple moving average of $24.63.

AST SpaceMobile (NASDAQ:ASTS) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.03). The firm had revenue of $0.72 million for the quarter, compared to analysts’ expectations of $3.85 million. Analysts expect that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Scotiabank dropped their price objective on shares of AST SpaceMobile from $47.90 to $45.40 and set a “sector outperform” rating for the company in a research note on Tuesday, May 13th. Cantor Fitzgerald reiterated an “overweight” rating and set a $30.00 price objective on shares of AST SpaceMobile in a research report on Tuesday, March 4th. UBS Group increased their price objective on AST SpaceMobile from $31.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Oppenheimer began coverage on shares of AST SpaceMobile in a research note on Monday, May 5th. They issued a “market perform” rating on the stock. Finally, Roth Capital began coverage on shares of AST SpaceMobile in a research note on Thursday, April 10th. They issued a “buy” rating and a $42.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, AST SpaceMobile has an average rating of “Moderate Buy” and an average price target of $42.40.

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.