Encompass More Asset Management Invests $993,000 in AST SpaceMobile, Inc. $ASTS

Encompass More Asset Management bought a new stake in AST SpaceMobile, Inc. (NASDAQ:ASTS) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 20,225 shares of the company’s stock, valued at approximately $993,000.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in AST SpaceMobile by 21.9% in the third quarter. GAMMA Investing LLC now owns 1,355 shares of the company’s stock valued at $67,000 after purchasing an additional 243 shares during the period. Flagship Private Wealth LLC grew its holdings in shares of AST SpaceMobile by 2.8% during the second quarter. Flagship Private Wealth LLC now owns 9,106 shares of the company’s stock worth $426,000 after buying an additional 250 shares during the last quarter. SBI Securities Co. Ltd. increased its position in AST SpaceMobile by 0.5% in the 2nd quarter. SBI Securities Co. Ltd. now owns 56,619 shares of the company’s stock valued at $2,646,000 after acquiring an additional 268 shares during the period. Signaturefd LLC increased its position in AST SpaceMobile by 25.2% in the 2nd quarter. Signaturefd LLC now owns 1,826 shares of the company’s stock valued at $85,000 after acquiring an additional 367 shares during the period. Finally, Tsfg LLC raised its stake in AST SpaceMobile by 37.0% during the 2nd quarter. Tsfg LLC now owns 1,370 shares of the company’s stock valued at $64,000 after acquiring an additional 370 shares during the last quarter. Institutional investors and hedge funds own 60.95% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of AST SpaceMobile stock in a transaction that occurred on 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 completion of the sale, the insider directly owned 211,379 shares in the company, valued at approximately $14,743,685.25. This trade represents a 91.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Huiwen Yao sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $73.52, for a total value of $2,940,800.00. Following the completion of the sale, the chief technology officer owned 4,750 shares in the company, valued at approximately $349,220. This represents a 89.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders bought 2,140 shares of company stock valued at $137,236 and sold 2,354,621 shares valued at $164,348,075. 30.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on ASTS shares. Barclays downgraded AST SpaceMobile from an “overweight” rating to an “underweight” rating and set a $60.00 target price on the stock. in a research note on Friday, October 17th. Scotiabank raised shares of AST SpaceMobile from a “sector underperform” rating to a “sector perform” rating and set a $45.60 price objective on the stock in a research note on Monday, November 24th. UBS Group cut shares of AST SpaceMobile from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $62.00 to $43.00 in a research note on Tuesday, September 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AST SpaceMobile in a report on Monday, December 22nd. Finally, Zacks Research cut shares of AST SpaceMobile from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 21st. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $45.66.

AST SpaceMobile Price Performance

Shares of NASDAQ ASTS opened at $71.95 on Monday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 9.48 and a current ratio of 9.56. AST SpaceMobile, Inc. has a one year low of $17.50 and a one year high of $102.79. The firm has a market capitalization of $26.41 billion, a P/E ratio of -58.02 and a beta of 2.77. The company’s fifty day moving average is $68.78 and its two-hundred day moving average is $58.12.

AST SpaceMobile (NASDAQ:ASTS) last announced its quarterly earnings results on Monday, November 10th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.27). The company had revenue of $14.74 million during the quarter, compared to analysts’ expectations of $22.04 million. AST SpaceMobile had a negative net margin of 1,639.59% and a negative return on equity of 27.76%. The business’s revenue for the quarter was up 1236.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.10) EPS. Analysts forecast that AST SpaceMobile, Inc. will post -0.4 EPS for the current fiscal year.

About AST SpaceMobile

AST SpaceMobile is a U.S.-based aerospace company developing a space-based cellular broadband network designed to connect standard mobile phones and other devices directly to satellites. The company’s core proposition is “space-to-cell” service: operating a constellation of low-Earth-orbit (LEO) satellites equipped with large, high-power phased-array antennas to provide wide-area mobile broadband without requiring users to buy specialized terminals or handset modifications.

AST SpaceMobile designs, builds and operates satellite payloads and supporting ground infrastructure.