Twinbeech Capital LP Invests $4.68 Million in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Twinbeech Capital LP bought a new position in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 221,968 shares of the company's stock, valued at approximately $4,684,000. Twinbeech Capital LP owned 0.08% of AST SpaceMobile at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of AST SpaceMobile by 49.4% in the fourth quarter. Vanguard Group Inc. now owns 14,987,351 shares of the company's stock worth $316,233,000 after purchasing an additional 4,955,941 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of AST SpaceMobile by 7.0% in the fourth quarter. Geode Capital Management LLC now owns 3,496,825 shares of the company's stock worth $73,801,000 after purchasing an additional 229,759 shares in the last quarter. T. Rowe Price Investment Management Inc. bought a new position in shares of AST SpaceMobile in the fourth quarter worth $59,523,000. Charles Schwab Investment Management Inc. grew its stake in shares of AST SpaceMobile by 11.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,266,713 shares of the company's stock worth $26,728,000 after purchasing an additional 135,008 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of AST SpaceMobile by 8.8% in the fourth quarter. Northern Trust Corp now owns 1,233,056 shares of the company's stock worth $26,017,000 after purchasing an additional 100,153 shares in the last quarter. 60.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity at AST SpaceMobile

In related news, Director Julio A. Torres sold 20,000 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $30.73, for a total value of $614,600.00. Following the completion of the transaction, the director now owns 52,628 shares in the company, valued at $1,617,258.44. This trade represents a 27.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Huiwen Yao sold 55,000 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $26.82, for a total value of $1,475,100.00. The disclosure for this sale can be found here. 34.15% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ASTS. Scotiabank decreased their price target on AST SpaceMobile from $47.90 to $45.40 and set a "sector outperform" rating for the company in a research note on Tuesday, May 13th. UBS Group increased their price target on AST SpaceMobile from $31.00 to $38.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Oppenheimer assumed coverage on AST SpaceMobile in a research note on Monday, May 5th. They issued a "market perform" rating for the company. Roth Capital assumed coverage on AST SpaceMobile in a research note on Thursday, April 10th. They set a "buy" rating and a $42.00 target price for the company. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $30.00 target price on shares of AST SpaceMobile in a research note on Tuesday, March 4th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $42.40.

AST SpaceMobile Price Performance

ASTS stock traded down $0.32 during trading hours on Friday, hitting $24.09. 6,888,369 shares of the stock traded hands, compared to its average volume of 12,535,223. The stock has a 50-day simple moving average of $24.11 and a 200 day simple moving average of $24.52. AST SpaceMobile, Inc. has a one year low of $4.15 and a one year high of $39.08. The company has a market cap of $7.62 billion, a P/E ratio of -11.36 and a beta of 2.05. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31.

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