Key Colony Management LLC Has $18.41 Million Stock Holdings in AST SpaceMobile, Inc. $ASTS

Key Colony Management LLC cut its holdings in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 8.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 375,000 shares of the company’s stock after selling 36,000 shares during the period. AST SpaceMobile accounts for approximately 25.0% of Key Colony Management LLC’s holdings, making the stock its 3rd biggest holding. Key Colony Management LLC owned about 0.10% of AST SpaceMobile worth $18,405,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Rakuten Group Inc. acquired a new position in AST SpaceMobile in the first quarter valued at approximately $705,398,000. Voya Investment Management LLC raised its position in shares of AST SpaceMobile by 1,992.5% during the 1st quarter. Voya Investment Management LLC now owns 843,554 shares of the company’s stock valued at $19,182,000 after acquiring an additional 803,240 shares during the last quarter. Jump Financial LLC acquired a new position in shares of AST SpaceMobile in the 1st quarter valued at $14,750,000. Y Intercept Hong Kong Ltd bought a new position in shares of AST SpaceMobile in the 2nd quarter worth $21,754,000. Finally, Invesco Ltd. boosted its position in shares of AST SpaceMobile by 610.4% in the 2nd quarter. Invesco Ltd. now owns 475,531 shares of the company’s stock worth $22,222,000 after purchasing an additional 408,595 shares during the last quarter. Institutional investors and hedge funds own 60.95% of the company’s stock.

AST SpaceMobile Trading Up 0.8%

NASDAQ ASTS opened at $68.37 on Wednesday. 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 cap of $25.09 billion, a P/E ratio of -55.14 and a beta of 2.77. The stock’s 50-day moving average is $70.80 and its 200-day moving average is $55.61.

AST SpaceMobile (NASDAQ:ASTS) last posted its 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). AST SpaceMobile had a negative return on equity of 27.76% and a negative net margin of 1,639.59%.The business had revenue of $14.74 million for the quarter, compared to the consensus estimate of $22.04 million. During the same period in the previous year, the company posted ($1.10) earnings per share. AST SpaceMobile’s revenue for the quarter was up 1236.4% compared to the same quarter last year. Sell-side analysts anticipate that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ASTS. 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. Zacks Research cut AST SpaceMobile from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 21st. William Blair started coverage on shares of AST SpaceMobile in a research report on Thursday, August 21st. They issued a “market perform” rating on the stock. 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. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AST SpaceMobile in a research note on Monday. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $45.66.

Insider Activity at AST SpaceMobile

In related news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the firm’s stock in a transaction 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 sale, the insider directly owned 211,379 shares in the company, valued at $14,743,685.25. This trade represents a 91.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Shanti B. Gupta sold 10,000 shares of the company’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $77.34, for a total transaction of $773,400.00. Following the completion of the transaction, the chief operating officer directly owned 382,375 shares of the company’s stock, valued at approximately $29,572,882.50. The trade was a 2.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 2,354,621 shares of company stock valued at $164,348,075 over the last three months. 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.