Headlands Technologies LLC Grows Stock Holdings in AST SpaceMobile, Inc. $ASTS

Headlands Technologies LLC lifted its position in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 7.4% in the second quarter, Holdings Channel.com reports. The firm owned 112,825 shares of the company’s stock after purchasing an additional 7,746 shares during the quarter. Headlands Technologies LLC’s holdings in AST SpaceMobile were worth $5,272,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of ASTS. Atlantic Union Bankshares Corp bought a new stake in AST SpaceMobile in the 2nd quarter worth approximately $28,000. Binnacle Investments Inc bought a new position in AST SpaceMobile during the second quarter valued at approximately $33,000. Chapman Financial Group LLC purchased a new position in shares of AST SpaceMobile during the second quarter worth approximately $38,000. Spire Wealth Management bought a new stake in shares of AST SpaceMobile in the 2nd quarter worth approximately $45,000. Finally, CWM LLC boosted its stake in shares of AST SpaceMobile by 77.9% in the 2nd quarter. CWM LLC now owns 1,350 shares of the company’s stock valued at $63,000 after purchasing an additional 591 shares in the last quarter. 60.95% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CAO Maya Bernal sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $73.76, for a total transaction of $442,560.00. Following the completion of the transaction, the chief accounting officer owned 122,486 shares in the company, valued at $9,034,567.36. This represents a 4.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Huiwen Yao sold 40,000 shares of AST SpaceMobile stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $40.58, for a total transaction of $1,623,200.00. Following the completion of the sale, the chief technology officer owned 4,750 shares in the company, valued at approximately $192,755. This trade represents a 89.39% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 2,394,621 shares of company stock valued at $165,971,275. 30.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ASTS shares. Zacks Research cut shares of AST SpaceMobile from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 21st. William Blair assumed coverage on AST SpaceMobile in a research note on Thursday, August 21st. They set a “market perform” rating on the stock. Barclays downgraded AST SpaceMobile from an “overweight” rating to an “underweight” rating and set a $60.00 price objective on the stock. in a report on Friday, October 17th. Scotiabank upgraded AST SpaceMobile from a “sector underperform” rating to a “sector perform” rating and set a $45.60 target price for the company in a report on Monday, November 24th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AST SpaceMobile in a research note on Monday, December 8th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, AST SpaceMobile currently has a consensus rating of “Hold” and an average price target of $45.66.

AST SpaceMobile Stock Performance

Shares of NASDAQ:ASTS opened at $76.70 on Friday. The company has a current ratio of 9.56, a quick ratio of 9.48 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average price of $71.03 and a 200-day moving average price of $54.77. The company has a market cap of $28.15 billion, a price-to-earnings ratio of -61.85 and a beta of 2.76. AST SpaceMobile, Inc. has a 12 month low of $17.50 and a 12 month high of $102.79.

AST SpaceMobile (NASDAQ:ASTS) last announced its quarterly earnings results on Monday, November 10th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.27). The business had revenue of $14.74 million for the quarter, compared to analysts’ expectations of $22.04 million. AST SpaceMobile had a negative net margin of 1,639.59% and a negative return on equity of 27.76%. The firm’s revenue for the quarter was up 1236.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.10) EPS. As a group, equities analysts anticipate that AST SpaceMobile, Inc. will post -0.4 EPS for the current year.

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.