Tidal Investments LLC Raises Position in AST SpaceMobile, Inc. $ASTS

Tidal Investments LLC grew its holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 9,876.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,049,061 shares of the company’s stock after buying an additional 1,038,546 shares during the quarter. Tidal Investments LLC’s holdings in AST SpaceMobile were worth $93,220,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of ASTS. Compass Financial Management LLC acquired a new stake in shares of AST SpaceMobile in the second quarter valued at $26,000. Grove Bank & Trust acquired a new position in AST SpaceMobile during the 2nd quarter worth $27,000. Continuum Advisory LLC acquired a new position in AST SpaceMobile during the 2nd quarter worth $28,000. Cornerstone Planning Group LLC increased its holdings in AST SpaceMobile by 16,350.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 329 shares of the company’s stock worth $27,000 after purchasing an additional 327 shares during the period. Finally, Portus Wealth Advisors LLC purchased a new stake in AST SpaceMobile during the 1st quarter worth about $30,000. Hedge funds and other institutional investors own 60.95% of the company’s stock.

AST SpaceMobile Stock Performance

Shares of AST SpaceMobile stock opened at $62.42 on Thursday. The company has a quick ratio of 12.90, a current ratio of 13.05 and a debt-to-equity ratio of 1.24. AST SpaceMobile, Inc. has a 52 week low of $36.94 and a 52 week high of $133.86. The firm’s 50 day moving average is $65.59 and its two-hundred day moving average is $80.09. The firm has a market capitalization of $24.29 billion, a P/E ratio of -29.17 and a beta of 2.74.

AST SpaceMobile (NASDAQ:ASTS) last posted its earnings results on Monday, August 10th. The company reported ($0.77) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.45). AST SpaceMobile had a negative net margin of 536.66% and a negative return on equity of 22.88%. The company had revenue of $31.52 million during the quarter, compared to analysts’ expectations of $34.53 million. During the same period last year, the business earned ($0.41) earnings per share. Research analysts forecast that AST SpaceMobile, Inc. will post -1.95 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ASTS shares. Scotiabank upgraded AST SpaceMobile from a “sector underperform” rating to a “sector perform” rating and set a $50.80 price objective for the company in a research note on Wednesday, July 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AST SpaceMobile in a report on Wednesday, June 24th. New Street Research set a $106.00 price target on shares of AST SpaceMobile in a research note on Friday, May 29th. Deutsche Bank Aktiengesellschaft set a $93.00 price target on shares of AST SpaceMobile in a report on Wednesday, August 12th. Finally, Cantor Fitzgerald raised their price target on AST SpaceMobile from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. Six equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, AST SpaceMobile currently has an average rating of “Hold” and a consensus target price of $86.58.

Insider Activity at AST SpaceMobile

In other AST SpaceMobile news, Director Adriana Cisneros acquired 10,822 shares of the company’s stock in a transaction on Monday, August 31st. The shares were bought at an average cost of $57.22 per share, for a total transaction of $619,234.84. Following the completion of the purchase, the director owned 797,023 shares in the company, valued at $45,605,656.06. This trade represents a 1.38% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 20.89% of the stock is owned by insiders.

AST SpaceMobile Profile

AST SpaceMobile, Inc develops a space-based cellular broadband network designed to connect standard, unmodified mobile phones directly to satellites. Its planned service is intended to extend mobile connectivity beyond the coverage of traditional terrestrial wireless networks, including in rural, remote and underserved areas.

The company’s primary technology platform consists of large, low-Earth-orbit satellites known as BlueBirds. AST SpaceMobile is developing these satellites to provide voice, messaging and broadband data services through partnerships with mobile network operators, using existing cellular devices and spectrum where permitted.

Founded in 2017 and headquartered in Midland, Texas, AST SpaceMobile was established by Abel Avellan, who serves as its chairman and chief executive officer.