Y Intercept Hong Kong Ltd Makes New $21.75 Million Investment in AST SpaceMobile, Inc. $ASTS

Y Intercept Hong Kong Ltd purchased a new position in AST SpaceMobile, Inc. (NASDAQ:ASTS) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 465,530 shares of the company’s stock, valued at approximately $21,754,000. AST SpaceMobile makes up 0.5% of Y Intercept Hong Kong Ltd’s holdings, making the stock its 10th biggest position. Y Intercept Hong Kong Ltd owned approximately 0.15% of AST SpaceMobile as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sunbelt Securities Inc. increased its position in AST SpaceMobile by 61.9% in the first quarter. Sunbelt Securities Inc. now owns 1,321 shares of the company’s stock worth $30,000 after buying an additional 505 shares in the last quarter. GAMMA Investing LLC increased its position in AST SpaceMobile by 388.7% in the first quarter. GAMMA Investing LLC now owns 1,559 shares of the company’s stock worth $35,000 after buying an additional 1,240 shares in the last quarter. Financial Gravity Asset Management Inc. bought a new position in shares of AST SpaceMobile in the first quarter worth about $41,000. Close Asset Management Ltd boosted its stake in shares of AST SpaceMobile by 72.4% in the first quarter. Close Asset Management Ltd now owns 1,810 shares of the company’s stock worth $41,000 after acquiring an additional 760 shares during the period. Finally, New Age Alpha Advisors LLC bought a new position in shares of AST SpaceMobile in the first quarter worth about $50,000. Hedge funds and other institutional investors own 60.95% of the company’s stock.

Insider Buying and Selling

In other AST SpaceMobile news, CFO Andrew Martin Johnson sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $52.48, for a total transaction of $1,049,600.00. Following the sale, the chief financial officer directly owned 397,485 shares in the company, valued at $20,860,012.80. This represents a 4.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CTO Huiwen Yao sold 40,000 shares of the company’s 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 owned 4,750 shares in the company, valued at approximately $192,755. This trade represents a 89.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. 41.80% of the stock is currently owned by corporate insiders.

AST SpaceMobile Price Performance

Shares of AST SpaceMobile stock opened at $73.70 on Monday. The stock has a 50 day moving average of $57.61 and a 200 day moving average of $44.47. AST SpaceMobile, Inc. has a 12 month low of $17.50 and a 12 month high of $102.79. The firm has a market cap of $26.42 billion, a PE ratio of -38.99 and a beta of 2.41. The company has a current ratio of 8.23, a quick ratio of 8.23 and a debt-to-equity ratio of 0.42.

AST SpaceMobile (NASDAQ:ASTS) last announced its quarterly earnings results on Monday, August 11th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.22). AST SpaceMobile had a negative net margin of 7,213.90% and a negative return on equity of 26.81%. The firm had revenue of $1.16 million for the quarter, compared to the consensus estimate of $6.37 million. On average, research analysts expect that AST SpaceMobile, Inc. will post -0.4 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on ASTS. William Blair began coverage on AST SpaceMobile in a research note on Thursday, August 21st. They issued a “market perform” rating for the company. UBS Group lowered AST SpaceMobile from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $62.00 to $43.00 in a research note on Tuesday, September 9th. Scotiabank lowered AST SpaceMobile from a “sector perform” rating to a “sector underperform” rating and set a $42.90 price objective for the company. in a research note on Tuesday, October 7th. Zacks Research lowered AST SpaceMobile from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 21st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AST SpaceMobile in a research note on Friday. Three analysts have rated the stock with a Buy rating, four have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $45.27.

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.