Monashee Investment Management LLC Takes Position in AST SpaceMobile, Inc. $ASTS

Monashee Investment Management LLC purchased a new position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 45,000 shares of the company’s stock, valued at approximately $3,729,000. AST SpaceMobile accounts for about 2.0% of Monashee Investment Management LLC’s investment portfolio, making the stock its 17th largest position.

Several other institutional investors also recently made changes to their positions in ASTS. Calton & Associates Inc. raised its holdings in shares of AST SpaceMobile by 0.8% in the 4th quarter. Calton & Associates Inc. now owns 13,579 shares of the company’s stock worth $986,000 after purchasing an additional 104 shares during the period. Investmark Advisory Group LLC increased its position in AST SpaceMobile by 2.7% during the 4th quarter. Investmark Advisory Group LLC now owns 4,645 shares of the company’s stock worth $337,000 after purchasing an additional 120 shares in the last quarter. ORG Partners LLC raised its holdings in AST SpaceMobile by 4.2% in the fourth quarter. ORG Partners LLC now owns 3,283 shares of the company’s stock valued at $238,000 after buying an additional 133 shares during the period. Atlantic Union Bankshares Corp lifted its position in AST SpaceMobile by 18.2% during the fourth quarter. Atlantic Union Bankshares Corp now owns 923 shares of the company’s stock valued at $67,000 after buying an additional 142 shares in the last quarter. Finally, Larson Financial Group LLC grew its stake in AST SpaceMobile by 39.0% during the fourth quarter. Larson Financial Group LLC now owns 513 shares of the company’s stock worth $37,000 after buying an additional 144 shares during the period. 60.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ASTS has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft cut shares of AST SpaceMobile from a “buy” rating to a “hold” rating and decreased their price target for the stock from $117.00 to $106.00 in a research report on Friday, May 29th. Barclays increased their target price on AST SpaceMobile from $60.00 to $65.00 and gave the company an “underweight” rating in a research note on Thursday, April 9th. Roth Capital reissued a “buy” rating and set a $108.00 price target on shares of AST SpaceMobile in a research report on Tuesday, May 12th. B. Riley Financial upgraded AST SpaceMobile from a “neutral” rating to a “buy” rating and set a $85.00 price target for the company in a report on Friday, July 17th. Finally, New Street Research set a $106.00 price objective on shares of AST SpaceMobile in a research note on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, AST SpaceMobile currently has an average rating of “Hold” and an average target price of $86.95.

Insider Buying and Selling at AST SpaceMobile

In other AST SpaceMobile news, Director Julio A. Torres sold 15,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $76.34, for a total transaction of $1,145,100.00. Following the transaction, the director owned 43,239 shares of the company’s stock, valued at $3,300,865.26. This trade represents a 25.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Andrew Martin Johnson sold 45,809 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $93.81, for a total value of $4,297,342.29. Following the completion of the sale, the chief financial officer owned 503,619 shares of the company’s stock, valued at $47,244,498.39. This trade represents a 8.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 105,809 shares of company stock worth $9,748,492 over the last quarter. 20.89% of the stock is owned by corporate insiders.

Key AST SpaceMobile News

Here are the key news stories impacting AST SpaceMobile this week:

• Positive Sentiment: AST SpaceMobile completed a private offering of $1.15 billion in convertible senior notes due 2034, which gives it substantially more funding to support satellite deployment and execution of its constellation plan. AST SpaceMobile Announces Completion of Private Offering of $1.15 Billion of Convertible Senior Notes Due 2034
• Positive Sentiment: Investors initially viewed the new debt positively once they recognized it could help get the company’s satellites launched, helping explain a sharp move higher earlier in the day. Why a Billion Dollars in New Debt Just Sent ASTS Flying
• Positive Sentiment: Management also said BlueBird satellites 8, 9, and 10 are fully deployed, with three more already at Cape, reinforcing progress toward the company’s launch roadmap. ASTS Stock Rises Overnight: CEO Says BlueBirds 8, 9 And 10 Are Fully Deployed — With 3 More Satellites Already At Cape
• Neutral Sentiment: Some commentary continued to frame AST SpaceMobile as a high-risk but potentially compelling long-term space stock, with bullish comparisons to other space names. If The Market Crashes, This Is The 1 Space Stock I Can’t Wait To Buy
• Neutral Sentiment: Other sector-related coverage compared AST SpaceMobile with Redwire, highlighting the competitive opportunity in the space systems market rather than a clear new catalyst. Better Space Stock: AST SpaceMobile vs. Redwire
• Negative Sentiment: Concern remains over the company’s heavy cash burn, and Jim Cramer reiterated that AST SpaceMobile is “losing a fortune,” which may weigh on sentiment. ‘That Thing Has Just Been Crushed’: Cramer On This Tech Stock
• Negative Sentiment: Pomerantz LLP announced an investigation into claims on behalf of ASTS investors, adding a legal overhang that can pressure the stock. INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of AST SpaceMobile, Inc. – ASTS

AST SpaceMobile Trading Down 2.2%

ASTS opened at $61.95 on Thursday. AST SpaceMobile, Inc. has a 12-month low of $36.08 and a 12-month high of $133.86. The company has a debt-to-equity ratio of 1.11, a current ratio of 18.47 and a quick ratio of 18.37. The stock has a market capitalization of $24.04 billion, a PE ratio of -34.80 and a beta of 2.69. The firm’s fifty day moving average price is $85.81 and its 200 day moving average price is $88.98.

AST SpaceMobile (NASDAQ:ASTS) last issued its earnings results on Monday, May 11th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.43). The company had revenue of $14.73 million during the quarter, compared to analyst estimates of $39.01 million. AST SpaceMobile had a negative net margin of 573.67% and a negative return on equity of 24.87%. The business’s revenue for the quarter was up 1952.2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.20) EPS. As a group, research analysts expect that AST SpaceMobile, Inc. will post -1.38 EPS for the current fiscal year.

About AST SpaceMobile

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.