Belpointe Asset Management LLC Grows Stock Holdings in AST SpaceMobile, Inc. $ASTS

Belpointe Asset Management LLC increased its position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 5.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,704 shares of the company’s stock after purchasing an additional 2,147 shares during the period. Belpointe Asset Management LLC’s holdings in AST SpaceMobile were worth $1,949,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of ASTS. Sunbelt Securities Inc. boosted its position in shares of AST SpaceMobile by 61.9% during the 1st quarter. Sunbelt Securities Inc. now owns 1,321 shares of the company’s stock worth $30,000 after acquiring an additional 505 shares in the last quarter. GAMMA Investing LLC boosted its holdings in 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 purchasing an additional 1,240 shares in the last quarter. Financial Gravity Asset Management Inc. acquired a new position in AST SpaceMobile in the first quarter valued at approximately $41,000. Close Asset Management Ltd increased its stake in 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 purchasing an additional 760 shares during the last quarter. Finally, UMB Bank n.a. purchased a new position in AST SpaceMobile in the first quarter valued at approximately $45,000. 60.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other AST SpaceMobile news, CTO Huiwen Yao sold 40,000 shares of the business’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $40.58, for a total value of $1,623,200.00. Following the transaction, the chief technology officer directly owned 4,750 shares of the company’s stock, valued at approximately $192,755. The trade was a 89.39% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Andrew Martin Johnson sold 20,000 shares of the company’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $52.48, for a total transaction of $1,049,600.00. Following the transaction, the chief financial officer owned 397,485 shares of the company’s stock, valued at approximately $20,860,012.80. The trade was a 4.79% decrease in their position. The disclosure for this sale can be found here. Insiders own 41.80% of the company’s stock.

AST SpaceMobile Price Performance

Shares of NASDAQ:ASTS opened at $72.90 on Tuesday. AST SpaceMobile, Inc. has a one year low of $17.50 and a one year high of $74.77. The stock has a market capitalization of $26.14 billion, a price-to-earnings ratio of -38.57 and a beta of 2.41. The company has a 50-day simple moving average of $48.58 and a 200-day simple moving average of $38.69. The company has a debt-to-equity ratio of 0.42, a quick ratio of 8.23 and a current ratio of 8.23.

AST SpaceMobile (NASDAQ:ASTS) last released its quarterly earnings results on Monday, August 11th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.22). The company had revenue of $1.16 million for the quarter, compared to analysts’ expectations of $6.37 million. AST SpaceMobile had a negative return on equity of 26.81% and a negative net margin of 7,213.90%. On average, analysts predict that AST SpaceMobile, Inc. will post -0.4 EPS for the current year.

Wall Street Analysts Forecast Growth

ASTS has been the subject of several recent analyst reports. Zacks Research upgraded shares of AST SpaceMobile from a “strong sell” rating to a “hold” rating in a research report on Monday, August 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of AST SpaceMobile in a research report on Saturday, September 27th. Roth Capital reaffirmed a “buy” rating on shares of AST SpaceMobile in a report on Tuesday, August 12th. B. Riley reiterated a “buy” rating and set a $44.00 target price (up previously from $36.00) on shares of AST SpaceMobile in a research report on Monday, June 16th. Finally, William Blair started coverage on AST SpaceMobile in a research report on Thursday, August 21st. They issued a “market perform” rating for the company. Four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $45.27.

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.