Concurrent Investment Advisors LLC Makes New Investment in AST SpaceMobile, Inc. $ASTS

Concurrent Investment Advisors LLC bought a new position in AST SpaceMobile, Inc. (NASDAQ:ASTS) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 5,080 shares of the company’s stock, valued at approximately $249,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Y Intercept Hong Kong Ltd purchased a new position in AST SpaceMobile during the second quarter worth about $21,754,000. Invesco Ltd. increased its position in AST SpaceMobile by 610.4% during the 2nd quarter. Invesco Ltd. now owns 475,531 shares of the company’s stock worth $22,222,000 after purchasing an additional 408,595 shares during the period. Quadrature Capital Ltd raised its stake in shares of AST SpaceMobile by 170.7% during the 2nd quarter. Quadrature Capital Ltd now owns 569,785 shares of the company’s stock worth $26,620,000 after buying an additional 359,335 shares in the last quarter. Penserra Capital Management LLC lifted its holdings in shares of AST SpaceMobile by 320.5% in the 2nd quarter. Penserra Capital Management LLC now owns 398,563 shares of the company’s stock valued at $18,624,000 after buying an additional 303,784 shares during the period. Finally, DAVENPORT & Co LLC purchased a new stake in shares of AST SpaceMobile in the second quarter valued at approximately $13,889,000. 60.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, COO Shanti B. Gupta sold 10,000 shares of the company’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $77.34, for a total transaction of $773,400.00. Following the completion of the transaction, the chief operating officer owned 382,375 shares of the company’s stock, valued at $29,572,882.50. This represents a 2.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Huiwen Yao sold 40,000 shares of the stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $73.52, for a total transaction of $2,940,800.00. Following the transaction, the chief technology officer owned 4,750 shares in the company, valued at approximately $349,220. The trade was a 89.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have bought 2,765 shares of company stock worth $187,236 and have sold 2,354,621 shares worth $164,348,075. Corporate insiders own 30.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ASTS shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of AST SpaceMobile in a research report on Monday, December 29th. Scotiabank lowered shares of AST SpaceMobile from a “sector perform” rating to a “sector underperform” rating and set a $45.60 target price on the stock. in a research report on Wednesday, January 7th. B. Riley downgraded shares of AST SpaceMobile from a “buy” rating to a “neutral” rating in a report on Tuesday, January 13th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of AST SpaceMobile in a research note on Tuesday. Finally, Barclays downgraded shares of 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. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $45.66.

AST SpaceMobile Stock Performance

NASDAQ:ASTS opened at $103.50 on Thursday. The firm has a 50 day simple moving average of $75.83 and a 200-day simple moving average of $63.99. The company has a debt-to-equity ratio of 0.43, a current ratio of 9.56 and a quick ratio of 9.48. The firm has a market cap of $37.99 billion, a PE ratio of -83.47 and a beta of 2.70. AST SpaceMobile, Inc. has a 1-year low of $17.50 and a 1-year high of $120.93.

AST SpaceMobile (NASDAQ:ASTS) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.45) earnings per share 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 return on equity of 27.76% and a negative net margin of 1,639.59%.The company’s revenue for the quarter was up 1236.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.10) EPS. On average, equities analysts expect that AST SpaceMobile, Inc. will post -0.4 EPS for the current year.

AST SpaceMobile Profile

AST SpaceMobile is a U.S.-based aerospace company developing a space-based cellular broadband network designed to connect standard mobile phones and other devices directly to satellites. The company’s core proposition is “space-to-cell” service: operating a constellation of low-Earth-orbit (LEO) satellites equipped with large, high-power phased-array antennas to provide wide-area mobile broadband without requiring users to buy specialized terminals or handset modifications.

AST SpaceMobile designs, builds and operates satellite payloads and supporting ground infrastructure.