Cantor Fitzgerald L. P. Acquires 19,065 Shares of AST SpaceMobile, Inc. $ASTS

Key Points

• Cantor Fitzgerald increased its stake in AST SpaceMobile by 138%, buying 19,065 shares to hold 32,882 shares worth about $1.614 million at the end of the quarter.
• AST reported a big revenue beat—$54.31 million, up 2,731% year-over-year—but missed on EPS (‑$0.26 vs. a ‑$0.18 estimate) and showed deeply negative profitability metrics (net margin ‑482.16%).
• The stock trades well above consensus target levels (opened at $86.34 vs. a MarketBeat consensus target of $63.77), and analysts collectively rate the stock as "Reduce" amid mixed individual recommendations.

Cantor Fitzgerald L. P. raised its holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 138.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 32,882 shares of the company's stock after buying an additional 19,065 shares during the period. Cantor Fitzgerald L. P.'s holdings in AST SpaceMobile were worth $1,614,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. REAP Financial Group LLC bought a new position in shares of AST SpaceMobile in the 3rd quarter valued at about $25,000. Harvest Fund Management Co. Ltd bought a new stake in AST SpaceMobile during the third quarter worth about $29,000. Geneos Wealth Management Inc. raised its holdings in AST SpaceMobile by 225.0% during the third quarter. Geneos Wealth Management Inc. now owns 650 shares of the company's stock worth $32,000 after acquiring an additional 450 shares in the last quarter. Binnacle Investments Inc acquired a new position in AST SpaceMobile during the second quarter valued at approximately $33,000. Finally, BOKF NA acquired a new position in AST SpaceMobile during the third quarter valued at approximately $38,000. 60.95% of the stock is owned by institutional investors.

AST SpaceMobile Stock Down 0.9%

ASTS stock opened at $86.34 on Friday. AST SpaceMobile, Inc. has a fifty-two week low of $18.22 and a fifty-two week high of $129.89. The company has a debt-to-equity ratio of 0.92, a current ratio of 16.35 and a quick ratio of 16.27. The stock has a market capitalization of $31.69 billion, a price-to-earnings ratio of -65.41 and a beta of 2.77. The business's fifty day moving average price is $96.35 and its two-hundred day moving average price is $75.54.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last announced its earnings results on Monday, March 2nd. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.18) by ($0.08). AST SpaceMobile had a negative net margin of 482.16% and a negative return on equity of 23.02%. The business had revenue of $54.31 million during the quarter, compared to the consensus estimate of $39.53 million. AST SpaceMobile's revenue was up 2731.3% compared to the same quarter last year. On average, equities analysts anticipate that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of AST SpaceMobile in a research report on Monday, December 29th. Scotiabank downgraded AST SpaceMobile from a "sector perform" rating to a "sector underperform" rating and set a $45.60 price objective for the company. in a report on Wednesday, January 7th. B. Riley Financial decreased their target price on shares of AST SpaceMobile from $105.00 to $95.00 and set a "neutral" rating for the company in a research note on Friday, February 13th. Zacks Research upgraded shares of AST SpaceMobile from a "strong sell" rating to a "hold" rating in a report on Wednesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of AST SpaceMobile in a research report on Tuesday, January 20th. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Reduce" and a consensus target price of $63.77.

Insiders Place Their Bets

In other AST SpaceMobile news, Director Keith R. Larson acquired 625 shares of the business's stock in a transaction on Wednesday, December 24th. The stock was purchased at an average price of $80.00 per share, with a total value of $50,000.00. Following the acquisition, the director directly owned 2,015 shares of the company's stock, valued at approximately $161,200. This trade represents a 44.96% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 30.90% of the stock is owned by company insiders.

AST SpaceMobile Company Profile

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.

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