Algert Global LLC Purchases 29,450 Shares of AST SpaceMobile, Inc. $ASTS

Key Points

• Algert Global LLC increased its stake in AST SpaceMobile by 111.1% to a total of 55,950 shares, valued at approximately $1.27 million as of the end of the last quarter.
• Several institutional investors have recently modified their positions in AST SpaceMobile, with cumulative institutional ownership now at 60.95% of the company's stock.
• AST SpaceMobile reported a negative earnings per share (EPS) of ($0.41), significantly missing analysts' estimates, alongside revenues of $1.16 million for the last quarter.

Algert Global LLC grew its position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 111.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,950 shares of the company's stock after buying an additional 29,450 shares during the period. Algert Global LLC's holdings in AST SpaceMobile were worth $1,272,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd bought a new position in shares of AST SpaceMobile in the first quarter worth $286,000. Informed Momentum Co LLC increased its position in shares of AST SpaceMobile by 5.1% in the first quarter. Informed Momentum Co LLC now owns 93,043 shares of the company's stock worth $2,116,000 after purchasing an additional 4,508 shares during the period. HighTower Advisors LLC increased its position in shares of AST SpaceMobile by 174.6% in the first quarter. HighTower Advisors LLC now owns 206,289 shares of the company's stock worth $4,691,000 after purchasing an additional 131,171 shares during the period. Nuveen LLC bought a new position in shares of AST SpaceMobile in the first quarter worth $9,218,000. Finally, Virtu Financial LLC bought a new position in shares of AST SpaceMobile in the first quarter worth $1,337,000. Institutional investors own 60.95% of the company's stock.

Insider Activity

In other news, COO Shanti B. Gupta sold 10,000 shares of AST SpaceMobile stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $41.84, for a total transaction of $418,400.00. Following the sale, the chief operating officer directly owned 305,667 shares of the company's stock, valued at approximately $12,789,107.28. This trade represents a 3.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Scott Wisniewski sold 50,000 shares of AST SpaceMobile stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $35.65, for a total value of $1,782,500.00. Following the sale, the president directly owned 545,595 shares in the company, valued at $19,450,461.75. The trade was a 8.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 129,250 shares of company stock valued at $4,671,650. 34.15% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently commented on ASTS shares. Zacks Research upgraded AST SpaceMobile from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. UBS Group raised their price target on AST SpaceMobile from $38.00 to $62.00 and gave the stock a "buy" rating in a research report on Thursday, August 14th. B. Riley restated a "buy" rating and issued a $44.00 price target (up previously from $36.00) on shares of AST SpaceMobile in a research report on Monday, June 16th. Scotiabank reduced their price objective on AST SpaceMobile from $45.40 to $42.90 and set a "sector perform" rating on the stock in a research note on Thursday, August 7th. Finally, Oppenheimer began coverage on AST SpaceMobile in a research note on Monday, May 5th. They issued a "market perform" rating on the stock. Five equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, AST SpaceMobile currently has a consensus rating of "Moderate Buy" and a consensus price target of $48.41.

AST SpaceMobile Stock Performance

Shares of ASTS stock opened at $47.07 on Friday. The business's 50-day moving average price is $49.33 and its 200-day moving average price is $34.34. AST SpaceMobile, Inc. has a 12 month low of $17.50 and a 12 month high of $60.95. The firm has a market capitalization of $16.88 billion, a price-to-earnings ratio of -24.90 and a beta of 2.33. 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 - Get Free Report) 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 analyst estimates of $6.37 million. Equities research analysts forecast that AST SpaceMobile, Inc. will post -0.4 EPS for the current year.

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.

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