Caxton Associates LLP Has $3.17 Million Position in AST SpaceMobile, Inc. $ASTS

Caxton Associates LLP lessened its holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 15.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,764 shares of the company’s stock after selling 12,153 shares during the quarter. Caxton Associates LLP’s holdings in AST SpaceMobile were worth $3,167,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ASTS. Rakuten Group Inc. bought a new position in shares of AST SpaceMobile during the first quarter valued at $705,398,000. Northern Trust Corp increased its holdings in AST SpaceMobile by 2.7% in the first quarter. Northern Trust Corp now owns 1,266,315 shares of the company’s stock valued at $28,796,000 after purchasing an additional 33,259 shares during the period. Voya Investment Management LLC increased its holdings in AST SpaceMobile by 1,992.5% in the first quarter. Voya Investment Management LLC now owns 843,554 shares of the company’s stock valued at $19,182,000 after purchasing an additional 803,240 shares during the period. Bank of New York Mellon Corp raised its position in AST SpaceMobile by 28.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 761,154 shares of the company’s stock worth $35,569,000 after purchasing an additional 167,416 shares during the last quarter. Finally, Jump Financial LLC acquired a new position in AST SpaceMobile during the 1st quarter worth about $14,750,000. 60.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

ASTS has been the subject of several recent research reports. UBS Group cut AST SpaceMobile from a “buy” rating to a “neutral” rating and decreased their price target for the company from $62.00 to $43.00 in a research note on Tuesday, September 9th. Scotiabank upgraded AST SpaceMobile from a “sector underperform” rating to a “sector perform” rating and set a $45.60 target price on the stock in a report on Monday, November 24th. Zacks Research lowered shares of AST SpaceMobile from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 21st. William Blair assumed coverage on shares of AST SpaceMobile in a research report on Thursday, August 21st. They issued a “market perform” rating on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of AST SpaceMobile in a research report on Monday, December 8th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $45.66.

Insider Buying and Selling at AST SpaceMobile

In other AST SpaceMobile news, CAO Maya Bernal sold 6,000 shares of the company’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $73.76, for a total transaction of $442,560.00. Following the transaction, the chief accounting officer owned 122,486 shares in the company, valued at approximately $9,034,567.36. This represents a 4.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of AST SpaceMobile stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $69.75, for a total transaction of $159,631,314.75. Following the transaction, the insider owned 211,379 shares of the company’s stock, valued at $14,743,685.25. This represents a 91.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 2,394,621 shares of company stock worth $165,971,275 in the last ninety days. 30.90% of the stock is currently owned by corporate insiders.

AST SpaceMobile Stock Performance

Shares of AST SpaceMobile stock opened at $76.70 on Monday. The business has a 50-day simple moving average of $71.03 and a 200 day simple moving average of $54.98. AST SpaceMobile, Inc. has a one year low of $17.50 and a one year high of $102.79. The company has a debt-to-equity ratio of 0.43, a current ratio of 9.56 and a quick ratio of 9.48. The firm has a market capitalization of $28.15 billion, a price-to-earnings ratio of -61.85 and a beta of 2.77.

AST SpaceMobile (NASDAQ:ASTS) last announced its quarterly earnings data on Monday, November 10th. The company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.27). AST SpaceMobile had a negative net margin of 1,639.59% and a negative return on equity of 27.76%. The firm had revenue of $14.74 million during the quarter, compared to analyst estimates of $22.04 million. During the same period last year, the business posted ($1.10) EPS. The company’s revenue was up 1236.4% on a year-over-year basis. On average, research analysts anticipate 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.