AlphaQuest LLC Acquires 2,037 Shares of AST SpaceMobile, Inc. $ASTS

AlphaQuest LLC boosted its holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 109.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,906 shares of the company’s stock after purchasing an additional 2,037 shares during the quarter. AlphaQuest LLC’s holdings in AST SpaceMobile were worth $183,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ASTS. CWM LLC increased its stake in shares of AST SpaceMobile by 77.9% in the 2nd quarter. CWM LLC now owns 1,350 shares of the company’s stock valued at $63,000 after acquiring an additional 591 shares in the last quarter. GAMMA Investing LLC increased its stake in AST SpaceMobile by 388.7% in the first quarter. GAMMA Investing LLC now owns 1,559 shares of the company’s stock valued at $35,000 after purchasing an additional 1,240 shares in the last quarter. Financial Gravity Asset Management Inc. bought a new stake in AST SpaceMobile in the first quarter valued at $41,000. Close Asset Management Ltd increased its stake in AST SpaceMobile by 72.4% in the first 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, Signaturefd LLC increased its stake in AST SpaceMobile by 25.2% in the second quarter. Signaturefd LLC now owns 1,826 shares of the company’s stock valued at $85,000 after purchasing an additional 367 shares in the last quarter. 60.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on ASTS. William Blair assumed coverage on AST SpaceMobile in a research report on Thursday, August 21st. They issued a “market perform” rating for the company. Barclays downgraded AST SpaceMobile from an “overweight” rating to an “underweight” rating and set a $60.00 price objective for the company. in a report on Friday, October 17th. Weiss Ratings restated a “sell (d-)” rating on shares of AST SpaceMobile in a research note on Wednesday, October 8th. Zacks Research lowered shares of AST SpaceMobile from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 21st. Finally, Scotiabank lowered shares of AST SpaceMobile from a “sector perform” rating to a “sector underperform” rating and set a $42.90 price target for the company. in a research note on Tuesday, October 7th. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, AST SpaceMobile has an average rating of “Reduce” and a consensus target price of $45.27.

AST SpaceMobile Trading Up 4.7%

Shares of AST SpaceMobile stock opened at $80.25 on Monday. The stock has a fifty day simple moving average of $60.89 and a 200 day simple moving average of $46.58. AST SpaceMobile, Inc. has a 12-month low of $17.50 and a 12-month high of $102.79. The company has a market capitalization of $28.77 billion, a P/E ratio of -42.46 and a beta of 2.45. 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 (NASDAQ:ASTS) last posted its earnings results 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 firm had revenue of $1.16 million during the quarter, compared to the consensus estimate of $6.37 million. On average, sell-side analysts anticipate that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current fiscal year.

Insider Transactions at AST SpaceMobile

In other AST SpaceMobile news, CFO Andrew Martin Johnson sold 20,000 shares of the company’s stock in a transaction on 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. This represents a 4.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Huiwen Yao sold 40,000 shares of the company’s stock in a transaction on Tuesday, September 16th. The shares were 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 owned 4,750 shares of the company’s stock, valued at $192,755. This trade represents a 89.39% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 30.90% of the company’s stock.

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.