Havemeyer Place LP Buys New Position in AST SpaceMobile, Inc. $ASTS

Havemeyer Place LP purchased a new position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 9,410 shares of the company’s stock, valued at approximately $683,000.

Several other institutional investors also recently added to or reduced their stakes in the company. Calton & Associates Inc. lifted its stake in AST SpaceMobile by 0.8% in the fourth quarter. Calton & Associates Inc. now owns 13,579 shares of the company’s stock valued at $986,000 after buying an additional 104 shares during the last quarter. Investmark Advisory Group LLC grew its position in shares of AST SpaceMobile by 2.7% during the fourth quarter. Investmark Advisory Group LLC now owns 4,645 shares of the company’s stock worth $337,000 after acquiring an additional 120 shares during the last quarter. ORG Partners LLC increased its holdings in shares of AST SpaceMobile by 4.2% in the 4th quarter. ORG Partners LLC now owns 3,283 shares of the company’s stock valued at $238,000 after acquiring an additional 133 shares during the period. Atlantic Union Bankshares Corp increased its holdings in shares of AST SpaceMobile by 18.2% in the 4th quarter. Atlantic Union Bankshares Corp now owns 923 shares of the company’s stock valued at $67,000 after acquiring an additional 142 shares during the period. Finally, Larson Financial Group LLC raised its position in AST SpaceMobile by 39.0% in the 4th quarter. Larson Financial Group LLC now owns 513 shares of the company’s stock valued at $37,000 after purchasing an additional 144 shares during the last quarter. Institutional investors and hedge funds own 60.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Wall Street Zen downgraded shares of AST SpaceMobile from a “sell” rating to a “strong sell” rating in a research report on Wednesday, April 15th. Deutsche Bank Aktiengesellschaft cut shares of AST SpaceMobile from a “buy” rating to a “hold” rating and reduced their target price for the company from $117.00 to $106.00 in a report on Friday, May 29th. Barclays raised their price target on AST SpaceMobile from $60.00 to $65.00 and gave the stock an “underweight” rating in a report on Thursday, April 9th. Weiss Ratings restated a “sell (d-)” rating on shares of AST SpaceMobile in a research report on Friday, March 27th. Finally, New Street Research set a $106.00 price objective on AST SpaceMobile in a research note on Friday, May 29th. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $81.33.

Insider Activity at AST SpaceMobile

In related news, CFO Andrew Martin Johnson sold 5,000 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $90.25, for a total transaction of $451,250.00. Following the sale, the chief financial officer owned 565,805 shares of the company’s stock, valued at approximately $51,063,901.25. The trade was a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Huiwen Yao sold 40,000 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $96.37, for a total transaction of $3,854,800.00. Following the transaction, the chief technology officer owned 34,750 shares in the company, valued at $3,348,857.50. The trade was a 53.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 3,140,000 shares of company stock worth $279,903,150 over the last three months. 20.89% of the stock is currently owned by company insiders.

AST SpaceMobile Trading Down 1.6%

Shares of ASTS stock opened at $92.06 on Tuesday. The business’s fifty day moving average price is $89.69 and its 200 day moving average price is $87.16. The firm has a market capitalization of $35.73 billion, a PE ratio of -51.72 and a beta of 2.70. The company has a debt-to-equity ratio of 1.11, a current ratio of 18.47 and a quick ratio of 18.37. AST SpaceMobile, Inc. has a 1-year low of $32.25 and a 1-year high of $133.86.

AST SpaceMobile (NASDAQ:ASTS) last released its earnings results on Monday, May 11th. The company reported ($0.66) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.43). AST SpaceMobile had a negative net margin of 573.67% and a negative return on equity of 24.87%. The business had revenue of $14.74 million during the quarter, compared to analyst estimates of $39.01 million. During the same period last year, the business posted ($0.20) EPS. AST SpaceMobile’s revenue was up 1952.2% compared to the same quarter last year. As a group, sell-side analysts forecast that AST SpaceMobile, Inc. will post -1.47 EPS for the current fiscal 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.