SG Americas Securities LLC Buys 41,210 Shares of AST SpaceMobile, Inc. $ASTS

SG Americas Securities LLC grew its stake in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 138.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,012 shares of the company’s stock after acquiring an additional 41,210 shares during the period. SG Americas Securities LLC’s holdings in AST SpaceMobile were worth $3,318,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ASTS. Atlantic Union Bankshares Corp bought a new position in AST SpaceMobile in the second quarter worth approximately $28,000. Close Asset Management Ltd lifted its holdings in shares of AST SpaceMobile by 72.4% in the 1st quarter. Close Asset Management Ltd now owns 1,810 shares of the company’s stock worth $41,000 after buying an additional 760 shares during the period. Spire Wealth Management bought a new position in shares of AST SpaceMobile during the 2nd quarter worth $45,000. New Age Alpha Advisors LLC purchased a new position in shares of AST SpaceMobile during the first quarter valued at $50,000. Finally, CWM LLC increased its stake in shares of AST SpaceMobile by 77.9% during the second quarter. CWM LLC now owns 1,350 shares of the company’s stock valued at $63,000 after buying an additional 591 shares during the period. Institutional investors own 60.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Scotiabank cut shares of AST SpaceMobile from a “sector perform” rating to a “sector underperform” rating and set a $42.90 target price on the stock. in a report on Tuesday, October 7th. Barclays downgraded shares of AST SpaceMobile from an “overweight” rating to an “underweight” rating and set a $60.00 price objective on the stock. in a research note on Friday, October 17th. UBS Group downgraded shares of AST SpaceMobile from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $62.00 to $43.00 in a research note on Tuesday, September 9th. Zacks Research lowered AST SpaceMobile from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 21st. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of AST SpaceMobile in a report on Monday. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, AST SpaceMobile has a consensus rating of “Reduce” and a consensus price target of $45.27.

Insider Transactions at AST SpaceMobile

In other AST SpaceMobile news, CFO Andrew Martin Johnson sold 20,000 shares of the stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $52.48, for a total value of $1,049,600.00. Following the completion of the sale, the chief financial officer directly owned 397,485 shares in the company, valued at approximately $20,860,012.80. This trade represents a 4.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Huiwen Yao sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $40.58, for a total value of $1,623,200.00. Following the completion of the sale, the chief technology officer directly owned 4,750 shares of the company’s stock, valued at approximately $192,755. This represents a 89.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 30.90% of the company’s stock.

AST SpaceMobile Trading Up 2.9%

NASDAQ:ASTS opened at $58.22 on Wednesday. The stock has a market capitalization of $20.87 billion, a price-to-earnings ratio of -46.95 and a beta of 2.46. AST SpaceMobile, Inc. has a 52 week low of $17.50 and a 52 week high of $102.79. The company has a quick ratio of 9.48, a current ratio of 9.56 and a debt-to-equity ratio of 0.43. The firm has a 50 day moving average of $65.55 and a 200 day moving average of $50.14.

AST SpaceMobile (NASDAQ:ASTS) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $14.74 million during the quarter, compared to analysts’ expectations of $22.04 million. AST SpaceMobile’s revenue for the quarter was up 1236.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.10) earnings per share. As a group, sell-side 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.