Stance Capital LLC Takes Position in AST SpaceMobile, Inc. $ASTS

Stance Capital LLC bought a new stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 34,704 shares of the company’s stock, valued at approximately $1,703,000.

Other large investors have also added to or reduced their stakes in the company. ORG Partners LLC lifted its stake in AST SpaceMobile by 5.2% in the third quarter. ORG Partners LLC now owns 3,150 shares of the company’s stock valued at $155,000 after buying an additional 155 shares during the period. Atlantic Union Bankshares Corp boosted its holdings in shares of AST SpaceMobile by 30.0% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 781 shares of the company’s stock worth $38,000 after buying an additional 180 shares in the last quarter. GAMMA Investing LLC grew its position in shares of AST SpaceMobile by 21.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,355 shares of the company’s stock worth $67,000 after buying an additional 243 shares during the period. Ameriprise Financial Inc. grew its position in shares of AST SpaceMobile by 3.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 6,586 shares of the company’s stock worth $323,000 after buying an additional 245 shares during the period. Finally, Integrated Wealth Concepts LLC increased its stake in shares of AST SpaceMobile by 7.2% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 5,399 shares of the company’s stock valued at $265,000 after acquiring an additional 363 shares in the last quarter. Institutional investors and hedge funds own 60.95% of the company’s stock.

AST SpaceMobile Stock Performance

NASDAQ ASTS opened at $95.70 on Wednesday. The company has a market cap of $35.12 billion, a P/E ratio of -72.50 and a beta of 2.77. The company has a fifty day simple moving average of $96.27 and a 200 day simple moving average of $76.35. The company has a current ratio of 16.35, a quick ratio of 16.27 and a debt-to-equity ratio of 0.92. AST SpaceMobile, Inc. has a 12-month low of $18.22 and a 12-month high of $129.89.

AST SpaceMobile (NASDAQ:ASTS) last released its quarterly earnings data on Monday, March 2nd. The company reported ($0.26) earnings per share 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 business had revenue of $54.31 million for the quarter, compared to analyst estimates of $39.53 million. The business’s revenue for the quarter was up 2731.3% compared to the same quarter last year. Sell-side analysts predict that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on ASTS shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of AST SpaceMobile in a research note on Tuesday, January 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AST SpaceMobile in a research note on Monday, December 29th. Scotiabank lowered 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 report on Wednesday, January 7th. Zacks Research raised shares of AST SpaceMobile from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Finally, UBS Group raised their target price on AST SpaceMobile from $43.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, March 4th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $63.77.

Insider Activity at AST SpaceMobile

In other AST SpaceMobile news, Director Keith R. Larson bought 625 shares of the stock in a transaction that occurred on Wednesday, December 24th. The shares were bought at an average price of $80.00 per share, for a total transaction of $50,000.00. Following the acquisition, the director directly owned 2,015 shares of the company’s stock, valued at approximately $161,200. The trade was a 44.96% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 30.90% of the stock is currently owned by insiders.

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.