Tidal Investments LLC Grows Stock Holdings in AST SpaceMobile, Inc. $ASTS

Tidal Investments LLC lifted its stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 9,876.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,049,061 shares of the company’s stock after purchasing an additional 1,038,546 shares during the period. Tidal Investments LLC owned 0.27% of AST SpaceMobile worth $93,220,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in ASTS. Focus Partners Wealth raised its holdings in shares of AST SpaceMobile by 8,016.7% during the 4th quarter. Focus Partners Wealth now owns 1,269,609 shares of the company’s stock worth $92,000,000 after acquiring an additional 1,253,967 shares during the period. ABN Amro Investment Solutions purchased a new stake in shares of AST SpaceMobile in the first quarter valued at about $996,000. Arrowpoint Investment Partners Singapore Pte. Ltd. acquired a new stake in AST SpaceMobile during the fourth quarter worth about $2,290,000. KBC Group NV increased its position in AST SpaceMobile by 259.5% during the first quarter. KBC Group NV now owns 23,438 shares of the company’s stock worth $1,942,000 after purchasing an additional 16,918 shares during the last quarter. Finally, Bank of Nova Scotia acquired a new stake in AST SpaceMobile during the first quarter worth about $1,329,000. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ASTS has been the topic of several recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of AST SpaceMobile in a report on Wednesday, June 24th. Scotiabank upgraded shares of AST SpaceMobile from a “sector underperform” rating to a “sector perform” rating and set a $50.80 price target for the company in a report on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft set a $93.00 price target on shares of AST SpaceMobile in a research report on Wednesday, August 12th. UBS Group began coverage on AST SpaceMobile in a report on Wednesday, September 2nd. They issued a “buy” rating on the stock. Finally, Cantor Fitzgerald raised their target price on AST SpaceMobile from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. Six analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, AST SpaceMobile presently has an average rating of “Hold” and an average price target of $86.58.

Insider Activity

In other news, Director Adriana Cisneros bought 10,822 shares of the stock in a transaction that occurred on Monday, August 31st. The stock was bought at an average cost of $57.22 per share, for a total transaction of $619,234.84. Following the acquisition, the director directly owned 797,023 shares of the company’s stock, valued at $45,605,656.06. The trade was a 1.38% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 20.89% of the company’s stock.

AST SpaceMobile Price Performance

Shares of ASTS opened at $62.42 on Thursday. AST SpaceMobile, Inc. has a 1-year low of $36.94 and a 1-year high of $133.86. The stock has a market cap of $24.29 billion, a PE ratio of -29.17 and a beta of 2.74. The firm has a 50-day simple moving average of $65.59 and a two-hundred day simple moving average of $80.09. The company has a debt-to-equity ratio of 1.24, a current ratio of 13.05 and a quick ratio of 12.90.

AST SpaceMobile (NASDAQ:ASTS) last issued its quarterly earnings data on Monday, August 10th. The company reported ($0.77) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.45). AST SpaceMobile had a negative return on equity of 22.88% and a negative net margin of 536.66%.The company had revenue of $31.52 million during the quarter, compared to analyst estimates of $34.53 million. During the same quarter in the prior year, the company posted ($0.41) earnings per share. As a group, analysts forecast that AST SpaceMobile, Inc. will post -1.95 EPS for the current year.

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.