AlphaQuest LLC Has $43,000 Position in AST SpaceMobile, Inc. $ASTS

AlphaQuest LLC reduced its holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 41.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,869 shares of the company’s stock after selling 1,305 shares during the period. AlphaQuest LLC’s holdings in AST SpaceMobile were worth $43,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Sunbelt Securities Inc. raised its holdings in AST SpaceMobile by 61.9% in the first quarter. Sunbelt Securities Inc. now owns 1,321 shares of the company’s stock worth $30,000 after purchasing an additional 505 shares during the period. GAMMA Investing LLC raised its holdings in AST SpaceMobile by 388.7% in the first quarter. GAMMA Investing LLC now owns 1,559 shares of the company’s stock worth $35,000 after purchasing an additional 1,240 shares during the period. Financial Gravity Asset Management Inc. acquired a new stake in AST SpaceMobile in the first quarter worth $41,000. Close Asset Management Ltd raised its holdings in AST SpaceMobile by 72.4% in the first quarter. Close Asset Management Ltd now owns 1,810 shares of the company’s stock worth $41,000 after purchasing an additional 760 shares during the period. Finally, Bernard Wealth Management Corp. acquired a new stake in AST SpaceMobile in the fourth quarter worth $42,000. Institutional investors own 60.95% of the company’s stock.

Wall Street Analysts Forecast Growth

ASTS has been the topic of several analyst reports. William Blair initiated coverage on shares of AST SpaceMobile in a report on Thursday, August 21st. They issued a “market perform” rating on the stock. Roth Capital reiterated a “buy” rating on shares of AST SpaceMobile in a report on Tuesday, August 12th. Scotiabank cut their target price on shares of AST SpaceMobile from $45.40 to $42.90 and set a “sector perform” rating on the stock in a report on Thursday, August 7th. Bank of America assumed coverage on shares of AST SpaceMobile in a report on Wednesday, June 25th. They issued a “neutral” rating and a $55.00 target price on the stock. Finally, UBS Group increased their price objective on shares of AST SpaceMobile from $38.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, August 14th. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, AST SpaceMobile presently has an average rating of “Hold” and a consensus target price of $45.98.

Insider Buying and Selling at AST SpaceMobile

In related news, President Scott Wisniewski sold 50,000 shares of the firm’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $35.65, for a total value of $1,782,500.00. Following the completion of the transaction, the president owned 545,595 shares of the company’s stock, valued at approximately $19,450,461.75. This trade represents a 8.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Shanti B. Gupta sold 15,000 shares of the firm’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $36.08, for a total transaction of $541,200.00. Following the completion of the transaction, the chief operating officer directly owned 315,667 shares of the company’s stock, valued at approximately $11,389,265.36. This trade represents a 4.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 149,250 shares of company stock worth $5,721,250 in the last three months. 34.15% of the stock is currently owned by company insiders.

AST SpaceMobile Stock Down 7.4%

Shares of ASTS stock opened at $41.86 on Friday. The firm has a fifty day moving average of $49.54 and a 200-day moving average of $35.53. The company has a quick ratio of 8.23, a current ratio of 8.23 and a debt-to-equity ratio of 0.42. AST SpaceMobile, Inc. has a 12-month low of $17.50 and a 12-month high of $60.95. The company has a market capitalization of $15.01 billion, a price-to-earnings ratio of -22.15 and a beta of 2.43.

AST SpaceMobile (NASDAQ:ASTS) last issued its quarterly earnings data on Monday, August 11th. The company reported ($0.41) earnings per share (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 the consensus estimate of $6.37 million. As a group, equities research analysts predict that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current fiscal year.

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.