Signaturefd LLC Boosts Position in AST SpaceMobile, Inc. $ASTS

Signaturefd LLC raised its stake in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 25.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,826 shares of the company’s stock after buying an additional 367 shares during the period. Signaturefd LLC’s holdings in AST SpaceMobile were worth $85,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of ASTS. Sunbelt Securities Inc. raised its stake in shares of AST SpaceMobile by 61.9% during the first 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. GAMMA Investing LLC increased its holdings in AST SpaceMobile by 388.7% during the 1st 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. purchased a new position in AST SpaceMobile during the 1st quarter worth $41,000. Close Asset Management Ltd raised its position 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 purchasing an additional 760 shares in the last quarter. Finally, UMB Bank n.a. purchased a new stake in shares of AST SpaceMobile in the 1st quarter worth $45,000. 60.95% of the stock is owned by hedge funds and other institutional investors.

AST SpaceMobile Trading Up 2.4%

Shares of NASDAQ:ASTS opened at $67.76 on Friday. The company has a current ratio of 8.23, a quick 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 $68.80. The business has a 50 day moving average of $48.21 and a two-hundred day moving average of $38.26. The company has a market capitalization of $24.29 billion, a PE ratio of -35.85 and a beta of 2.41.

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 the consensus estimate of ($0.19) by ($0.22). AST SpaceMobile had a negative net margin of 7,213.90% and a negative return on equity of 26.81%. The firm had revenue of $1.16 million for the quarter, compared to analysts’ expectations of $6.37 million. As a group, analysts forecast that AST SpaceMobile, Inc. will post -0.4 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ASTS. UBS Group downgraded AST SpaceMobile from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $62.00 to $43.00 in a report on Tuesday, September 9th. Barclays lifted their price objective on shares of AST SpaceMobile from $37.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday. William Blair assumed coverage on AST SpaceMobile in a research report on Thursday, August 21st. They set a “market perform” rating on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of AST SpaceMobile in a report on Saturday, September 27th. Finally, Roth Capital restated a “buy” rating on shares of AST SpaceMobile in a research note on Tuesday, August 12th. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $45.27.

Insiders Place Their Bets

In related 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 value of $1,049,600.00. Following the completion of the transaction, the chief financial officer owned 397,485 shares in the company, valued at $20,860,012.80. The trade was a 4.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Huiwen Yao sold 40,000 shares of the company’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 completion of 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. 34.15% of the stock is currently owned by insiders.

AST SpaceMobile Company 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.