Foundations Investment Advisors LLC Takes Position in AST SpaceMobile, Inc. $ASTS

Foundations Investment Advisors LLC bought a new position in AST SpaceMobile, Inc. (NASDAQ:ASTS) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,023 shares of the company’s stock, valued at approximately $328,000.

Several other hedge funds have also modified their holdings of the company. Rakuten Group Inc. bought a new position in shares of AST SpaceMobile during the 1st quarter worth approximately $705,398,000. Voya Investment Management LLC grew its holdings in AST SpaceMobile by 1,992.5% in the first quarter. Voya Investment Management LLC now owns 843,554 shares of the company’s stock worth $19,182,000 after purchasing an additional 803,240 shares during the last quarter. Jump Financial LLC acquired a new position in shares of AST SpaceMobile during the first quarter worth $14,750,000. Y Intercept Hong Kong Ltd acquired a new position in shares of AST SpaceMobile during the second quarter worth $21,754,000. Finally, Nuveen LLC purchased a new stake in shares of AST SpaceMobile during the 1st quarter valued at $9,218,000. 60.95% of the stock is owned by hedge funds and other institutional investors.

AST SpaceMobile Price Performance

Shares of NASDAQ ASTS opened at $58.01 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 9.56 and a quick ratio of 9.48. The stock has a market capitalization of $20.80 billion, a price-to-earnings ratio of -46.78 and a beta of 2.46. The firm’s 50 day simple moving average is $65.96 and its 200-day simple moving average is $50.19. AST SpaceMobile, Inc. has a 12 month low of $17.50 and a 12 month high of $102.79.

AST SpaceMobile (NASDAQ:ASTS) last posted its 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). The firm had revenue of $14.74 million for the quarter, compared to analysts’ expectations 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 company’s revenue was up 1236.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.10) earnings per share. Analysts expect that AST SpaceMobile, Inc. will post -0.4 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on ASTS. Barclays lowered AST SpaceMobile from an “overweight” rating to an “underweight” rating and set a $60.00 target price on the stock. in a research report on Friday, October 17th. Roth Capital reaffirmed a “buy” rating on shares of AST SpaceMobile in a research report on Tuesday, August 12th. William Blair started coverage on shares of AST SpaceMobile in a research note on Thursday, August 21st. They issued a “market perform” rating for the company. Zacks Research lowered shares of AST SpaceMobile from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 21st. Finally, Scotiabank cut shares of AST SpaceMobile from a “sector perform” rating to a “sector underperform” rating and set a $42.90 price target for the company. in a report on Tuesday, October 7th. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $45.27.

Insider Buying and Selling

In related news, CTO Huiwen Yao sold 40,000 shares of the stock in a transaction on 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 transaction, 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Andrew Martin Johnson sold 20,000 shares of the stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $52.48, for a total transaction of $1,049,600.00. Following the completion of the sale, the chief financial officer owned 397,485 shares of the company’s stock, valued at $20,860,012.80. This trade represents a 4.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 30.90% of the stock is owned by corporate insiders.

AST SpaceMobile Company 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.