Greenhaven Road Investment Management L.P. Acquires Shares of 268,000 AST SpaceMobile, Inc. $ASTS

Greenhaven Road Investment Management L.P. acquired a new stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) during the 2nd quarter, Holdings Channel reports. The fund acquired 268,000 shares of the company’s stock, valued at approximately $12,524,000. AST SpaceMobile accounts for about 4.3% of Greenhaven Road Investment Management L.P.’s investment portfolio, making the stock its 10th largest holding.

Several other large investors have also bought and sold shares of the company. Flagship Private Wealth LLC lifted its holdings in shares of AST SpaceMobile by 2.8% during the second quarter. Flagship Private Wealth LLC now owns 9,106 shares of the company’s stock valued at $426,000 after purchasing an additional 250 shares in the last quarter. SBI Securities Co. Ltd. lifted its stake in AST SpaceMobile by 0.5% during the 2nd quarter. SBI Securities Co. Ltd. now owns 56,619 shares of the company’s stock valued at $2,646,000 after acquiring an additional 268 shares during the period. Signaturefd LLC boosted its holdings in shares of AST SpaceMobile by 25.2% during the 2nd quarter. Signaturefd LLC now owns 1,826 shares of the company’s stock valued at $85,000 after acquiring an additional 367 shares during the last quarter. Tsfg LLC grew its stake in shares of AST SpaceMobile by 37.0% in the second quarter. Tsfg LLC now owns 1,370 shares of the company’s stock worth $64,000 after acquiring an additional 370 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of AST SpaceMobile by 2.4% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 16,641 shares of the company’s stock valued at $759,000 after purchasing an additional 392 shares during the last quarter. 60.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at AST SpaceMobile

In related news, Director Adriana Cisneros purchased 750 shares of AST SpaceMobile stock in a transaction that occurred on Thursday, November 20th. The shares were bought at an average price of $50.79 per share, with a total value of $38,092.50. Following the purchase, the director directly owned 784,077 shares of the company’s stock, valued at approximately $39,823,270.83. This represents a 0.10% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Huiwen Yao sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $40.58, for a total transaction of $1,623,200.00. Following the transaction, the chief technology officer directly owned 4,750 shares in the company, valued at approximately $192,755. This trade represents a 89.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 30.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ASTS has been the subject of several research analyst reports. UBS Group lowered AST SpaceMobile from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $62.00 to $43.00 in a report on Tuesday, September 9th. Zacks Research downgraded AST SpaceMobile from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 21st. William Blair started coverage on shares of AST SpaceMobile in a research note on Thursday, August 21st. They issued a “market perform” rating on the stock. Scotiabank raised shares of AST SpaceMobile from a “sector underperform” rating to a “sector perform” rating and set a $45.60 price objective on the stock in a report on Monday, November 24th. Finally, Barclays cut shares of AST SpaceMobile from an “overweight” rating to an “underweight” rating and set a $60.00 target price for the company. in a report on Friday, October 17th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $45.66.

AST SpaceMobile Trading Up 18.2%

ASTS stock opened at $72.65 on Friday. The company has a market capitalization of $26.66 billion, a price-to-earnings ratio of -58.59 and a beta of 2.76. The business has a 50 day simple moving average of $68.56 and a two-hundred day simple moving average of $52.38. The company has a debt-to-equity ratio of 0.43, a current ratio of 9.56 and a quick ratio of 9.48. AST SpaceMobile, Inc. has a 1-year low of $17.50 and a 1-year high of $102.79.

AST SpaceMobile (NASDAQ:ASTS) last posted its 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). AST SpaceMobile had a negative return on equity of 27.76% and a negative net margin of 1,639.59%.The business had revenue of $14.74 million during the quarter, compared to the consensus estimate of $22.04 million. During the same quarter last year, the firm earned ($1.10) earnings per share. The business’s quarterly revenue was up 1236.4% on a year-over-year basis. Research analysts anticipate that AST SpaceMobile, Inc. will post -0.4 EPS for the current fiscal 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.