Twin Tree Management LP Invests $137,000 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 bought a new stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 6,036 shares of the company's stock, valued at approximately $137,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sunbelt Securities Inc. raised its holdings in shares of AST SpaceMobile by 61.9% in the 1st quarter. Sunbelt Securities Inc. now owns 1,321 shares of the company's stock valued at $30,000 after purchasing an additional 505 shares during the period. GAMMA Investing LLC raised its position in shares of AST SpaceMobile by 388.7% in the first quarter. GAMMA Investing LLC now owns 1,559 shares of the company's stock valued at $35,000 after buying an additional 1,240 shares in the last quarter. Financial Gravity Asset Management Inc. acquired a new stake in shares of AST SpaceMobile in the first quarter valued at approximately $41,000. Close Asset Management Ltd raised its position in shares of AST SpaceMobile by 72.4% in the first quarter. Close Asset Management Ltd now owns 1,810 shares of the company's stock valued at $41,000 after buying an additional 760 shares in the last quarter. Finally, Bernard Wealth Management Corp. acquired a new stake in shares of AST SpaceMobile in the fourth quarter valued at approximately $42,000. Institutional investors and hedge funds own 60.95% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on ASTS. B. Riley restated a "buy" rating and set a $44.00 price objective (up from $36.00) on shares of AST SpaceMobile in a research report on Monday, June 16th. Bank of America started coverage on shares of AST SpaceMobile in a research note on Wednesday, June 25th. They set a "neutral" rating and a $55.00 target price on the stock. UBS Group boosted their price objective on shares of AST SpaceMobile from $38.00 to $62.00 and gave the stock a "buy" rating in a research note on Thursday, August 14th. Scotiabank dropped their price objective on shares of AST SpaceMobile from $45.40 to $42.90 and set a "sector perform" rating on the stock in a report on Thursday, August 7th. Finally, Roth Capital restated a "buy" rating on shares of AST SpaceMobile in a report on Tuesday, August 12th. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, AST SpaceMobile has an average rating of "Hold" and a consensus price target of $45.98.

Insider Activity at AST SpaceMobile

In other AST SpaceMobile news, COO Shanti B. Gupta sold 15,000 shares of the company's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $36.08, for a total transaction of $541,200.00. Following the completion of the sale, the chief operating officer directly owned 315,667 shares of the company's stock, valued at approximately $11,389,265.36. This represents a 4.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Huiwen Yao sold 4,250 shares of the 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 completion of the sale, the chief technology officer directly owned 20,750 shares of the company's stock, valued at approximately $717,950. This trade represents a 17.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 149,250 shares of company stock worth $5,721,250 in the last three months. 41.80% of the stock is currently owned by company insiders.

AST SpaceMobile Trading Down 6.2%

Shares of ASTS traded down $2.79 during trading hours on Thursday, reaching $42.44. 11,364,847 shares of the company traded hands, compared to its average volume of 11,633,830. The company's fifty day moving average price is $49.72 and its two-hundred day moving average price is $35.46. The company has a market capitalization of $15.21 billion, a price-to-earnings ratio of -22.43 and a beta of 2.43. The company has a quick ratio of 8.23, a current ratio of 8.23 and a debt-to-equity ratio of 0.42. AST SpaceMobile, Inc. has a 12 month low of $17.50 and a 12 month high of $60.95.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last announced its 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). AST SpaceMobile had a negative net margin of 7,213.90% and a negative return on equity of 26.81%. The company had revenue of $1.16 million for the quarter, compared to the consensus estimate of $6.37 million. Equities research 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.