AST SpaceMobile, Inc. $ASTS Shares Bought by Chicago Partners Investment Group LLC

Key Points

• Chicago Partners Investment Group LLC increased its position in AST SpaceMobile, Inc. by 9.4%, owning 96,155 shares valued at approximately $4.5 million.
• AST SpaceMobile reported a loss of ($0.41) EPS for the last quarter, missing estimates significantly, and the company has a market capitalization of nearly $30 billion.
• Insider transactions showed a notable decrease in holdings, with CFO Andrew Johnson selling 20,000 shares and CTO Huiwen Yao selling 40,000 shares in recent months.

Chicago Partners Investment Group LLC lifted its position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 9.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,155 shares of the company's stock after acquiring an additional 8,249 shares during the quarter. Chicago Partners Investment Group LLC's holdings in AST SpaceMobile were worth $4,493,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Sunbelt Securities Inc. raised its holdings in AST SpaceMobile by 61.9% during the first quarter. Sunbelt Securities Inc. now owns 1,321 shares of the company's stock worth $30,000 after purchasing an additional 505 shares during the last quarter. GAMMA Investing LLC grew its holdings in AST SpaceMobile by 388.7% in the first quarter. GAMMA Investing LLC now owns 1,559 shares of the company's stock valued at $35,000 after purchasing an additional 1,240 shares during the last quarter. Financial Gravity Asset Management Inc. purchased a new position in shares of AST SpaceMobile in the first quarter valued at $41,000. Close Asset Management Ltd raised its stake in shares of AST SpaceMobile by 72.4% during the 1st quarter. Close Asset Management Ltd now owns 1,810 shares of the company's stock worth $41,000 after buying an additional 760 shares during the last quarter. Finally, ORG Partners LLC purchased a new stake in shares of AST SpaceMobile in the 1st quarter worth about $48,000. Institutional investors and hedge funds own 60.95% of the company's stock.

Insider Buying and Selling at AST SpaceMobile

In other AST SpaceMobile news, CFO Andrew Martin Johnson sold 20,000 shares of AST SpaceMobile stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $52.48, for a total value of $1,049,600.00. Following the completion of the sale, the chief financial officer owned 397,485 shares in the company, valued at $20,860,012.80. The trade was a 4.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Huiwen Yao sold 40,000 shares of the company's stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $40.58, for a total transaction of $1,623,200.00. Following the transaction, the chief technology officer directly owned 4,750 shares of the company's stock, valued at approximately $192,755. This represents a 89.39% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 41.80% of the company's stock.

AST SpaceMobile Stock Performance

Shares of ASTS opened at $83.49 on Monday. AST SpaceMobile, Inc. has a 1 year low of $17.50 and a 1 year high of $102.79. The company's 50 day simple moving average is $54.89 and its 200 day simple moving average is $42.57. The company has a market capitalization of $29.93 billion, a price-to-earnings ratio of -44.17 and a beta of 2.41. The company has a debt-to-equity ratio of 0.42, a quick ratio of 8.23 and a current ratio of 8.23.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last released its earnings results on Monday, August 11th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.22). The firm had revenue of $1.16 million during the quarter, compared to analysts' expectations of $6.37 million. AST SpaceMobile had a negative return on equity of 26.81% and a negative net margin of 7,213.90%. On average, sell-side analysts predict that AST SpaceMobile, Inc. will post -0.4 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ASTS. Bank of America began coverage on shares of AST SpaceMobile in a report on Wednesday, June 25th. They set a "neutral" rating and a $55.00 target price for the company. Scotiabank cut shares of 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. William Blair assumed coverage on AST SpaceMobile in a research report on Thursday, August 21st. They set a "market perform" rating for the company. Roth Capital reiterated a "buy" rating on shares of AST SpaceMobile in a report on Tuesday, August 12th. Finally, Zacks Research raised AST SpaceMobile from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target 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.

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