Aristides Capital LLC Purchases New Holdings in AST SpaceMobile, Inc. $ASTS

Aristides Capital LLC acquired a new position in AST SpaceMobile, Inc. (NASDAQ:ASTS) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 12,776 shares of the company’s stock, valued at approximately $627,000.

Several other institutional investors also recently added to or reduced their stakes in ASTS. Oppenheimer & Co. Inc. boosted its stake in AST SpaceMobile by 48.0% in the third quarter. Oppenheimer & Co. Inc. now owns 532,960 shares of the company’s stock valued at $26,158,000 after acquiring an additional 172,759 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in shares of AST SpaceMobile by 342.2% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 132,087 shares of the company’s stock worth $6,172,000 after purchasing an additional 102,217 shares during the last quarter. Yarbrough Capital LLC raised its holdings in shares of AST SpaceMobile by 28.0% in the 3rd quarter. Yarbrough Capital LLC now owns 99,372 shares of the company’s stock worth $4,877,000 after purchasing an additional 21,739 shares during the period. Mutual Advisors LLC purchased a new position in AST SpaceMobile in the third quarter valued at approximately $1,882,000. Finally, PAX Financial Group LLC purchased a new position in AST SpaceMobile in the second quarter valued at approximately $822,000. Institutional investors own 60.95% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on ASTS. Weiss Ratings reissued a “sell (d-)” rating on shares of AST SpaceMobile in a research report on Monday, December 29th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of AST SpaceMobile in a research note on Tuesday, January 20th. Scotiabank cut AST SpaceMobile from a “sector perform” rating to a “sector underperform” rating and set a $45.60 price objective on the stock. in a research note on Wednesday, January 7th. Zacks Research raised shares of AST SpaceMobile from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. Finally, B. Riley Financial cut their target price on shares of AST SpaceMobile from $105.00 to $95.00 and set a “neutral” rating for the company in a research report on Friday, February 13th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $63.77.

AST SpaceMobile Price Performance

Shares of NASDAQ ASTS opened at $87.09 on Friday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 16.27 and a current ratio of 16.35. AST SpaceMobile, Inc. has a fifty-two week low of $18.22 and a fifty-two week high of $129.89. The stock has a market cap of $31.96 billion, a PE ratio of -65.98 and a beta of 2.77. The stock has a fifty day moving average of $96.29 and a 200-day moving average of $75.12.

AST SpaceMobile (NASDAQ:ASTS) last issued its earnings results on Monday, March 2nd. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.08). AST SpaceMobile had a negative return on equity of 23.02% and a negative net margin of 482.16%.The company had revenue of $54.31 million during the quarter, compared to the consensus estimate of $39.53 million. The business’s quarterly revenue was up 2731.3% on a year-over-year basis. Equities research analysts anticipate that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current year.

Insider Transactions at AST SpaceMobile

In other news, Director Keith R. Larson purchased 625 shares of the business’s stock in a transaction on Wednesday, December 24th. The stock was purchased at an average cost of $80.00 per share, with a total value of $50,000.00. Following the acquisition, the director directly owned 2,015 shares in the company, valued at approximately $161,200. This trade represents a 44.96% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 30.90% of the stock is owned by corporate insiders.

AST SpaceMobile Company Profile

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.