Clear Street Group Inc. Makes New Investment in AST SpaceMobile, Inc. $ASTS

Clear Street Group Inc. purchased a new stake in AST SpaceMobile, Inc. (NASDAQ:ASTS) in the 3rd quarter, according to its most recent filing with the SEC. The fund purchased 1,836,361 shares of the company’s stock, valued at approximately $90,129,000. AST SpaceMobile comprises about 0.3% of Clear Street Group Inc.’s portfolio, making the stock its 17th largest position. Clear Street Group Inc. owned 0.51% of AST SpaceMobile at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. ORG Partners LLC boosted its holdings in shares of AST SpaceMobile by 5.2% during the third quarter. ORG Partners LLC now owns 3,150 shares of the company’s stock worth $155,000 after purchasing an additional 155 shares during the last quarter. Atlantic Union Bankshares Corp grew its position in shares of AST SpaceMobile by 30.0% in the third quarter. Atlantic Union Bankshares Corp now owns 781 shares of the company’s stock valued at $38,000 after purchasing an additional 180 shares during the period. GAMMA Investing LLC increased its stake in AST SpaceMobile by 21.9% in the third quarter. GAMMA Investing LLC now owns 1,355 shares of the company’s stock valued at $67,000 after purchasing an additional 243 shares during the last quarter. Ameriprise Financial Inc. increased its stake in AST SpaceMobile by 3.9% in the third quarter. Ameriprise Financial Inc. now owns 6,586 shares of the company’s stock valued at $323,000 after purchasing an additional 245 shares during the last quarter. Finally, Walkner Condon Financial Advisors LLC lifted its position in AST SpaceMobile by 3.7% during the third quarter. Walkner Condon Financial Advisors LLC now owns 10,403 shares of the company’s stock worth $511,000 after buying an additional 367 shares during the period. Hedge funds and other institutional investors own 60.95% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on ASTS. UBS Group raised their price target on AST SpaceMobile from $43.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AST SpaceMobile in a research note on Monday, December 29th. Scotiabank cut 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. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of AST SpaceMobile in a research report on Tuesday, January 20th. Finally, Zacks Research raised shares of AST SpaceMobile from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, AST SpaceMobile currently has an average rating of “Reduce” and an average target price of $63.77.

AST SpaceMobile Price Performance

Shares of AST SpaceMobile stock opened at $86.34 on Friday. The business’s fifty day moving average price is $96.35 and its 200 day moving average price is $75.54. AST SpaceMobile, Inc. has a twelve month low of $18.22 and a twelve month high of $129.89. The company has a current ratio of 16.35, a quick ratio of 16.27 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $31.69 billion, a P/E ratio of -65.41 and a beta of 2.77.

AST SpaceMobile (NASDAQ:ASTS) last announced its quarterly earnings results on Monday, March 2nd. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.08). The firm had revenue of $54.31 million for the quarter, compared to analyst estimates of $39.53 million. AST SpaceMobile had a negative return on equity of 23.02% and a negative net margin of 482.16%.The business’s revenue was up 2731.3% compared to the same quarter last year. As a group, research analysts anticipate that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current year.

Insider Activity

In other AST SpaceMobile news, Director Keith R. Larson bought 625 shares of the company’s stock in a transaction that occurred on Wednesday, December 24th. The stock was purchased at an average price of $80.00 per share, with a total value of $50,000.00. Following the transaction, the director owned 2,015 shares in the company, valued at $161,200. This trade represents a 44.96% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 30.90% of the company’s stock.

AST SpaceMobile Company 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.