Exchange Traded Concepts LLC Reduces Stock Position in AST SpaceMobile, Inc. $ASTS

Exchange Traded Concepts LLC trimmed its stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 73.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,013 shares of the company’s stock after selling 70,631 shares during the period. Exchange Traded Concepts LLC’s holdings in AST SpaceMobile were worth $1,817,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ASTS. Capital Investment Advisors LLC increased its stake in AST SpaceMobile by 57.7% in the 4th quarter. Capital Investment Advisors LLC now owns 15,765 shares of the company’s stock valued at $1,145,000 after purchasing an additional 5,770 shares in the last quarter. Dakota Wealth Management purchased a new stake in AST SpaceMobile during the fourth quarter worth $794,000. Sage Advisors LLC boosted its position in AST SpaceMobile by 27.6% during the fourth quarter. Sage Advisors LLC now owns 9,603 shares of the company’s stock worth $697,000 after purchasing an additional 2,078 shares in the last quarter. Byrne Asset Management LLC acquired a new stake in AST SpaceMobile in the fourth quarter valued at $29,000. Finally, World Equity Group Inc. acquired a new stake in AST SpaceMobile in the fourth quarter valued at $231,000. Hedge funds and other institutional investors own 60.95% of the company’s stock.

AST SpaceMobile Stock Performance

NASDAQ ASTS opened at $83.99 on Thursday. 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 $32.09 billion, a price-to-earnings ratio of -63.63 and a beta of 2.80. The business has a fifty day moving average of $93.16 and a 200-day moving average of $79.55. The company has a quick ratio of 16.27, a current ratio of 16.35 and a debt-to-equity ratio of 0.92.

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. B. Riley Financial cut their price target on AST SpaceMobile from $105.00 to $95.00 and set a “neutral” rating for the company in a research note on Friday, February 13th. Scotiabank cut shares of 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. Weiss Ratings restated a “sell (d-)” rating on shares of AST SpaceMobile in a report on Friday, March 27th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of AST SpaceMobile in a research report on Tuesday, January 20th. Finally, Zacks Research raised shares of AST SpaceMobile from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $63.77.

Insider Transactions at AST SpaceMobile

In other AST SpaceMobile news, CTO Huiwen Yao sold 40,000 shares of the firm’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $88.88, for a total transaction of $3,555,200.00. Following the sale, the chief technology officer directly owned 4,750 shares of the company’s stock, valued at $422,180. This trade represents a 89.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 30.90% of the company’s stock.

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.