AST SpaceMobile, Inc. $ASTS Shares Sold by 111 Capital

Key Points

• 111 Capital reduced its stake in AST SpaceMobile by 28.1%, now holding 11,357 shares, worth approximately $531,000.
• Institutional investors collectively own 60.95% of AST SpaceMobile, with several firms, including Sunbelt Securities and GAMMA Investing, increasing their positions significantly during the first quarter.
• AST SpaceMobile reported a quarterly loss of ($0.41) per share, missing analysts' estimates, with revenue falling short at $1.16 million against expectations of $6.37 million.

111 Capital cut its stake in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 28.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,357 shares of the company's stock after selling 4,437 shares during the quarter. 111 Capital's holdings in AST SpaceMobile were worth $531,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Sunbelt Securities Inc. raised its stake in shares of AST SpaceMobile by 61.9% during the 1st quarter. Sunbelt Securities Inc. now owns 1,321 shares of the company's stock worth $30,000 after buying an additional 505 shares during the period. GAMMA Investing LLC raised its stake in shares of AST SpaceMobile by 388.7% during the 1st quarter. GAMMA Investing LLC now owns 1,559 shares of the company's stock worth $35,000 after buying an additional 1,240 shares during the period. Financial Gravity Asset Management Inc. acquired a new position in shares of AST SpaceMobile during the 1st quarter worth approximately $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 period. Finally, Signaturefd LLC raised its stake in shares of AST SpaceMobile by 25.2% during the 2nd quarter. Signaturefd LLC now owns 1,826 shares of the company's stock worth $85,000 after buying an additional 367 shares during the period. 60.95% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Andrew Martin Johnson sold 20,000 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $52.48, for a total transaction of $1,049,600.00. Following the completion of the transaction, the chief financial officer directly owned 397,485 shares in the company, valued at approximately $20,860,012.80. This represents a 4.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Huiwen Yao sold 40,000 shares of the stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $40.58, for a total value of $1,623,200.00. Following the transaction, the chief technology officer directly owned 4,750 shares in the company, valued at approximately $192,755. The trade was 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

NASDAQ ASTS opened at $67.76 on Monday. The stock has a market cap of $24.29 billion, a PE ratio of -35.85 and a beta of 2.41. 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, Inc. has a twelve month low of $17.50 and a twelve month high of $68.80. The stock has a fifty day simple moving average of $48.21 and a 200-day simple moving average of $38.36.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The company reported ($0.41) earnings per share for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.22). The business had revenue of $1.16 million for 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%. Equities analysts anticipate that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ASTS shares. William Blair started coverage on AST SpaceMobile in a research note on Thursday, August 21st. They set a "market perform" rating for the company. Scotiabank reduced their target price on AST SpaceMobile from $45.40 to $42.90 and set a "sector perform" rating for the company in a research note on Thursday, August 7th. UBS Group downgraded AST SpaceMobile from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $62.00 to $43.00 in a research note on Tuesday, September 9th. B. Riley reissued a "buy" rating and issued a $44.00 price objective (up from $36.00) on shares of AST SpaceMobile in a research note on Monday, June 16th. Finally, Bank of America assumed coverage on AST SpaceMobile in a research note on Wednesday, June 25th. They issued a "neutral" rating and a $55.00 price objective for the company. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $45.27.

AST SpaceMobile 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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