Chicago Partners Investment Group LLC Has $2 Million Stock Holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Key Points

• Chicago Partners Investment Group LLC increased its stake in AST SpaceMobile by 42.1%, owning 87,906 shares valued at approximately $2 million after purchasing an additional 26,048 shares during the first quarter.
• Analysts have mixed opinions on AST SpaceMobile, with several firms predicting varied price targets, including a drop from $45.40 to $42.90 by Scotiabank, and a $55.00 price objective set by Bank of America.
• AST SpaceMobile reported a loss of $0.20 earnings per share for the last quarter, significantly missing analysts' expectations, with revenues of only $0.72 million against a consensus estimate of $3.85 million.

Chicago Partners Investment Group LLC grew its stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 42.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 87,906 shares of the company's stock after purchasing an additional 26,048 shares during the quarter. Chicago Partners Investment Group LLC's holdings in AST SpaceMobile were worth $1,999,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in ASTS. Sunbelt Securities Inc. increased 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 buying an additional 505 shares during the last quarter. GAMMA Investing LLC increased 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 purchasing an additional 1,240 shares during the last quarter. Financial Gravity Asset Management Inc. bought a new stake in shares of AST SpaceMobile in the 1st quarter valued at about $41,000. Close Asset Management Ltd raised its holdings in shares of AST SpaceMobile by 72.4% in the 1st quarter. Close Asset Management Ltd now owns 1,810 shares of the company's stock valued at $41,000 after purchasing an additional 760 shares during the period. Finally, Bernard Wealth Management Corp. acquired a new stake in AST SpaceMobile in the 4th quarter valued at about $42,000. Institutional investors own 60.95% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on ASTS. Scotiabank dropped 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. Bank of America began coverage on shares of AST SpaceMobile in a research report on Wednesday, June 25th. They issued a "neutral" rating and a $55.00 price objective on the stock. Oppenheimer initiated coverage on shares of AST SpaceMobile in a research note on Monday, May 5th. They set a "market perform" rating for the company. B. Riley reiterated a "buy" rating and issued a $44.00 price target (up previously from $36.00) on shares of AST SpaceMobile in a research note on Monday, June 16th. Finally, Roth Capital started coverage on shares of AST SpaceMobile in a research report on Thursday, April 10th. They set a "buy" rating and a $42.00 price objective for the company. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, AST SpaceMobile presently has an average rating of "Moderate Buy" and a consensus price target of $44.99.

AST SpaceMobile Trading Down 7.9%

ASTS stock opened at $47.71 on Friday. AST SpaceMobile, Inc. has a 52 week low of $17.50 and a 52 week high of $60.95. The company has a market capitalization of $15.10 billion, a PE ratio of -23.97 and a beta of 2.33. The company's 50-day simple moving average is $45.86 and its 200 day simple moving average is $32.32. The company has a debt-to-equity ratio of 0.60, a quick ratio of 10.62 and a current ratio of 10.62.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.03). AST SpaceMobile had a negative net margin of 7,033.22% and a negative return on equity of 23.56%. The business had revenue of $0.72 million during the quarter, compared to the consensus estimate of $3.85 million. As a group, sell-side analysts anticipate that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current year.

Insider Activity at AST SpaceMobile

In other AST SpaceMobile news, CTO Huiwen Yao sold 4,250 shares of the firm's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $34.60, for a total transaction of $147,050.00. Following the transaction, the chief technology officer owned 20,750 shares in the company, valued at $717,950. This trade represents a 17.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Scott Wisniewski sold 50,000 shares of AST SpaceMobile stock in a transaction on 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 completion of the transaction, the president directly owned 545,595 shares of the company's stock, valued at $19,450,461.75. This represents a 8.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 184,250 shares of company stock worth $6,146,750. Company insiders own 34.15% of the company's stock.

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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