EVR Research LP Grows Position in AST SpaceMobile, Inc. $ASTS

EVR Research LP increased its stake in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 13.8% during the second quarter, according to its most recent filing with the SEC. The fund owned 330,000 shares of the company’s stock after buying an additional 40,000 shares during the quarter. AST SpaceMobile accounts for approximately 6.7% of EVR Research LP’s portfolio, making the stock its 3rd largest holding. EVR Research LP’s holdings in AST SpaceMobile were worth $15,421,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Engineers Gate Manager LP raised its position in AST SpaceMobile by 284.3% in the second quarter. Engineers Gate Manager LP now owns 63,393 shares of the company’s stock worth $2,962,000 after acquiring an additional 46,899 shares during the period. Boothbay Fund Management LLC bought a new position in shares of AST SpaceMobile during the 2nd quarter valued at approximately $399,000. Brevan Howard Capital Management LP purchased a new stake in shares of AST SpaceMobile during the 2nd quarter worth approximately $3,436,000. Ameriprise Financial Inc. bought a new stake in shares of AST SpaceMobile in the 2nd quarter worth approximately $296,000. Finally, Florida Financial Advisors LLC lifted its stake in AST SpaceMobile by 48.6% in the second quarter. Florida Financial Advisors LLC now owns 24,505 shares of the company’s stock valued at $1,175,000 after purchasing an additional 8,018 shares during the last quarter. Institutional investors own 60.95% of the company’s stock.

AST SpaceMobile Stock Performance

NASDAQ:ASTS opened at $76.70 on Friday. The business’s fifty day moving average is $71.03 and its 200 day moving average is $54.57. The firm has a market cap of $28.15 billion, a price-to-earnings ratio of -61.85 and a beta of 2.76. The company has a debt-to-equity ratio of 0.43, a quick ratio of 9.48 and a current ratio of 9.56. AST SpaceMobile, Inc. has a 52-week low of $17.50 and a 52-week high of $102.79.

AST SpaceMobile (NASDAQ:ASTS) last issued its earnings results on Monday, November 10th. The company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.27). The company had revenue of $14.74 million during the quarter, compared to the consensus estimate of $22.04 million. AST SpaceMobile had a negative return on equity of 27.76% and a negative net margin of 1,639.59%.The firm’s revenue for the quarter was up 1236.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.10) EPS. Research analysts predict that AST SpaceMobile, Inc. will post -0.4 EPS for the current year.

Insider Buying and Selling

In other AST SpaceMobile news, CTO Huiwen Yao sold 40,000 shares of the stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $40.58, for a total value of $1,623,200.00. Following the sale, the chief technology officer directly owned 4,750 shares in the company, valued at $192,755. This represents a 89.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Shanti B. Gupta sold 10,000 shares of the business’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $77.34, for a total transaction of $773,400.00. Following the transaction, the chief operating officer owned 382,375 shares of the company’s stock, valued at $29,572,882.50. This trade represents a 2.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 2,394,621 shares of company stock valued at $165,971,275 in the last three months. Insiders own 30.90% of the company’s stock.

Analysts Set New Price Targets

ASTS has been the subject of a number of recent research reports. William Blair initiated coverage on AST SpaceMobile in a research report on Thursday, August 21st. They issued a “market perform” rating for the company. Scotiabank upgraded AST SpaceMobile from a “sector underperform” rating to a “sector perform” rating and set a $45.60 price target for the company in a research note on Monday, November 24th. Barclays lowered 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AST SpaceMobile in a report on Monday. Finally, Zacks Research lowered shares of AST SpaceMobile from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 21st. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $45.66.

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.