Gotham Asset Management LLC Acquires 231,549 Shares of AST SpaceMobile, Inc. $ASTS

Gotham Asset Management LLC boosted its holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 37.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 843,738 shares of the company’s stock after buying an additional 231,549 shares during the quarter. Gotham Asset Management LLC owned approximately 0.24% of AST SpaceMobile worth $41,411,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in AST SpaceMobile by 13.4% during the third quarter. Vanguard Group Inc. now owns 19,919,888 shares of the company’s stock worth $977,668,000 after acquiring an additional 2,351,539 shares in the last quarter. Clear Street Group Inc. acquired a new stake in shares of AST SpaceMobile in the 3rd quarter valued at approximately $90,129,000. Van ECK Associates Corp boosted its stake in shares of AST SpaceMobile by 125.1% in the 3rd quarter. Van ECK Associates Corp now owns 782,041 shares of the company’s stock valued at $38,382,000 after purchasing an additional 434,615 shares in the last quarter. Invesco Ltd. grew its holdings in shares of AST SpaceMobile by 610.4% during the 2nd quarter. Invesco Ltd. now owns 475,531 shares of the company’s stock valued at $22,222,000 after purchasing an additional 408,595 shares during the last quarter. Finally, Jump Financial LLC grew its holdings in shares of AST SpaceMobile by 2,126.2% during the 3rd quarter. Jump Financial LLC now owns 379,203 shares of the company’s stock valued at $18,611,000 after purchasing an additional 362,169 shares during the last quarter. Institutional investors own 60.95% of the company’s stock.

Wall Street Analysts Forecast Growth

ASTS has been the subject of several research reports. Scotiabank downgraded shares of AST SpaceMobile from a “sector perform” rating to a “sector underperform” rating and set a $45.60 price objective for the company. in a research note on Wednesday, January 7th. Zacks Research raised shares of AST SpaceMobile from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. UBS Group upped their price target on shares of AST SpaceMobile from $43.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday, March 4th. B. Riley Financial dropped their price target on AST SpaceMobile from $105.00 to $95.00 and set a “neutral” rating for the company in a research note on Friday, February 13th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of AST SpaceMobile in a report on Tuesday, January 20th. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, AST SpaceMobile presently has a consensus rating of “Reduce” and an average target price of $63.77.

Insider Buying and Selling

In other AST SpaceMobile news, Director Keith R. Larson bought 625 shares of the firm’s stock in a transaction that occurred on Wednesday, December 24th. The stock was acquired at an average price of $80.00 per share, with a total value of $50,000.00. Following the completion of the purchase, the director directly owned 2,015 shares of the company’s stock, valued at approximately $161,200. This trade represents a 44.96% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 30.90% of the stock is owned by corporate insiders.

AST SpaceMobile Stock Performance

Shares of ASTS opened at $86.34 on Monday. The company has a current ratio of 16.35, a quick ratio of 16.27 and a debt-to-equity ratio of 0.92. The firm’s fifty day simple moving average is $96.35 and its two-hundred day simple moving average is $75.73. AST SpaceMobile, Inc. has a 12 month low of $18.22 and a 12 month high of $129.89. The stock has a market capitalization of $31.69 billion, a P/E ratio of -65.41 and a beta of 2.78.

AST SpaceMobile (NASDAQ:ASTS) last posted its quarterly earnings data on Monday, March 2nd. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.08). The business had revenue of $54.31 million during 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%.AST SpaceMobile’s revenue was up 2731.3% on a year-over-year basis. As a group, analysts predict that AST SpaceMobile, Inc. will post -0.4 EPS for the current year.

About AST SpaceMobile

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.