Twin Tree Management LP Makes New $137,000 Investment in AST SpaceMobile, Inc. $ASTS

Key Points

• Twin Tree Management LP made a new investment of $137,000 in AST SpaceMobile, acquiring 6,036 shares during the first quarter.
• AST SpaceMobile's stock has experienced significant fluctuations, with a one-year high of $60.95 and a low of $17.50, currently trading at around $48.94.
• Recent earnings show the company missed expectations, reporting a loss of ($0.41) EPS and revenue of $1.16 million against an expected $6.37 million, indicating ongoing financial challenges.

Twin Tree Management LP purchased a new position in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,036 shares of the company's stock, valued at approximately $137,000.

Several other institutional investors have also added to or reduced their stakes in ASTS. Alphabet Inc. acquired a new stake in shares of AST SpaceMobile during the first quarter worth about $203,375,000. Rakuten Group Inc. acquired a new position in shares of AST SpaceMobile during the 1st quarter worth approximately $705,398,000. Jump Financial LLC purchased a new position in AST SpaceMobile in the 1st quarter valued at about $14,750,000. Two Sigma Investments LP raised its stake in AST SpaceMobile by 117.5% in the 4th quarter. Two Sigma Investments LP now owns 51,874 shares of the company's stock valued at $1,095,000 after purchasing an additional 28,025 shares during the last quarter. Finally, Toronto Dominion Bank acquired a new position in AST SpaceMobile in the 4th quarter valued at $4,220,000. Institutional investors and hedge funds own 60.95% of the company's stock.

AST SpaceMobile Stock Performance

Shares of AST SpaceMobile stock traded up $0.87 on Friday, reaching $42.73. 4,074,054 shares of the stock were exchanged, compared to its average volume of 11,607,031. The business has a fifty day moving average price of $49.54 and a two-hundred day moving average price of $35.53. AST SpaceMobile, Inc. has a 1-year low of $17.50 and a 1-year high of $60.95. The firm has a market capitalization of $15.32 billion, a PE ratio of -22.60 and a beta of 2.43. 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 (NASDAQ:ASTS - Get Free Report) last posted its earnings results on Monday, August 11th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.22). AST SpaceMobile had a negative net margin of 7,213.90% and a negative return on equity of 26.81%. The firm had revenue of $1.16 million during the quarter, compared to analyst estimates of $6.37 million. As a group, research analysts anticipate that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Huiwen Yao sold 4,250 shares of the firm's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $34.60, for a total value of $147,050.00. Following the transaction, the chief technology officer directly 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 document filed with the SEC, which is available through this hyperlink. Also, President Scott Wisniewski sold 50,000 shares of the firm's stock in a transaction dated Monday, June 9th. The stock was 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 owned 545,595 shares in the company, valued at approximately $19,450,461.75. This trade represents a 8.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 149,250 shares of company stock valued at $5,721,250 in the last quarter. Corporate insiders own 34.15% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Bank of America assumed coverage on shares of AST SpaceMobile in a report on Wednesday, June 25th. They set a "neutral" rating and a $55.00 price target for the company. B. Riley restated a "buy" rating and set a $44.00 target price (up from $36.00) on shares of AST SpaceMobile in a report on Monday, June 16th. Zacks Research upgraded AST SpaceMobile from a "strong sell" rating to a "hold" rating in a research note on Monday, August 18th. William Blair began coverage on AST SpaceMobile in a research note on Thursday, August 21st. They issued a "market perform" rating for the company. Finally, UBS Group boosted their target price on AST SpaceMobile from $38.00 to $62.00 and gave the stock a "buy" rating in a research note on Thursday, August 14th. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $45.98.

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.