Stance Capital LLC Takes $1.70 Million 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 disclosure with the Securities & Exchange Commission. The fund bought 34,704 shares of the company’s stock, valued at approximately $1,703,000.

Other institutional investors have also bought and sold shares of the company. ORG Partners LLC raised its position in AST SpaceMobile by 5.2% in the 3rd 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 last quarter. Atlantic Union Bankshares Corp lifted its stake in AST SpaceMobile by 30.0% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 781 shares of the company’s stock valued at $38,000 after acquiring an additional 180 shares in the last quarter. GAMMA Investing LLC boosted its holdings in 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 acquiring an additional 243 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in 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 acquiring an additional 245 shares during the last quarter. Finally, Integrated Wealth Concepts LLC grew 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 worth $265,000 after acquiring an additional 363 shares in the last quarter. Institutional investors own 60.95% of the company’s stock.

AST SpaceMobile Stock Up 7.4%

Shares of NASDAQ:ASTS opened at $95.70 on Wednesday. The company has a market capitalization of $35.12 billion, a PE ratio of -72.50 and a beta of 2.77. The company has a debt-to-equity ratio of 0.92, a current ratio of 16.35 and a quick ratio of 16.27. The business has a fifty day moving average price of $96.27 and a two-hundred day moving average price of $76.35. AST SpaceMobile, Inc. has a 1 year low of $18.22 and a 1 year high of $129.89.

AST SpaceMobile (NASDAQ:ASTS) last released its earnings results on Monday, March 2nd. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.08). The business had revenue of $54.31 million for the quarter, compared to the consensus estimate of $39.53 million. AST SpaceMobile had a negative return on equity of 23.02% and a negative net margin of 482.16%.The company’s revenue for the quarter was up 2731.3% on a year-over-year basis. Analysts forecast that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. UBS Group increased their target price on shares of AST SpaceMobile from $43.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, March 4th. Zacks Research upgraded shares of AST SpaceMobile from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of AST SpaceMobile in a research report on Tuesday, January 20th. B. Riley Financial dropped their target price on shares of AST SpaceMobile from $105.00 to $95.00 and set a “neutral” rating on the stock in a research report on Friday, February 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of AST SpaceMobile in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce” and an average price target of $63.77.

Insider Buying and Selling

In related news, Director Keith R. Larson bought 625 shares of the company’s stock in a transaction on Wednesday, December 24th. The shares were purchased at an average cost of $80.00 per share, for a total transaction of $50,000.00. Following the completion of the purchase, the director directly owned 2,015 shares in the company, valued at $161,200. The trade was a 44.96% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 30.90% of the company’s stock.

AST SpaceMobile Company Profile

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.