Two Sigma Investments LP Boosts Stake in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Two Sigma Investments LP lifted its position in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 117.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,874 shares of the company's stock after buying an additional 28,025 shares during the quarter. Two Sigma Investments LP's holdings in AST SpaceMobile were worth $1,095,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Summit Securities Group LLC bought a new stake in shares of AST SpaceMobile in the 4th quarter valued at about $37,000. Golden State Wealth Management LLC bought a new position in shares of AST SpaceMobile in the 4th quarter worth approximately $46,000. CIBC Private Wealth Group LLC boosted its holdings in shares of AST SpaceMobile by 106.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company's stock valued at $53,000 after buying an additional 1,222 shares in the last quarter. AlphaQuest LLC purchased a new stake in AST SpaceMobile in the fourth quarter worth about $67,000. Finally, SRS Capital Advisors Inc. grew its stake in shares of AST SpaceMobile by 554.5% in the 4th quarter. SRS Capital Advisors Inc. now owns 3,482 shares of the company's stock worth $73,000 after buying an additional 2,950 shares during the last quarter. 60.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on ASTS shares. UBS Group lifted their target price on shares of AST SpaceMobile from $31.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Oppenheimer initiated coverage on AST SpaceMobile in a report on Monday, May 5th. They set a "market perform" rating for the company. Scotiabank dropped their target price on shares of AST SpaceMobile from $47.90 to $45.40 and set a "sector outperform" rating for the company in a report on Tuesday, May 13th. Cantor Fitzgerald restated an "overweight" rating and set a $30.00 target price on shares of AST SpaceMobile in a research report on Tuesday, March 4th. Finally, Roth Capital initiated coverage on AST SpaceMobile in a report on Thursday, April 10th. They set a "buy" rating and a $42.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, AST SpaceMobile presently has an average rating of "Moderate Buy" and a consensus price target of $42.40.

Insider Buying and Selling at AST SpaceMobile

In other AST SpaceMobile news, CTO Huiwen Yao sold 55,000 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $26.82, for a total value of $1,475,100.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 34.15% of the stock is owned by corporate insiders.

AST SpaceMobile Stock Performance

Shares of AST SpaceMobile stock traded up $3.63 during midday trading on Monday, hitting $34.82. The company had a trading volume of 33,813,872 shares, compared to its average volume of 12,266,609. The stock has a market cap of $11.02 billion, a price-to-earnings ratio of -16.42 and a beta of 2.02. AST SpaceMobile, Inc. has a 12-month low of $8.09 and a 12-month high of $39.08. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31. The company has a fifty day simple moving average of $24.21 and a 200 day simple moving average of $24.63.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.03). The business had revenue of $0.72 million during the quarter, compared to analyst estimates of $3.85 million. As a group, analysts predict that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current fiscal 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.