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

Monashee Investment Management LLC acquired a new position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) during the 1st quarter, HoldingsChannel reports. The firm acquired 45,000 shares of the company’s stock, valued at approximately $3,729,000. AST SpaceMobile comprises 2.0% of Monashee Investment Management LLC’s holdings, making the stock its 17th largest position.

A number of other large investors have also recently bought and sold shares of the business. Cornerstone Planning Group LLC boosted its stake in AST SpaceMobile by 16,350.0% in the first quarter. Cornerstone Planning Group LLC now owns 329 shares of the company’s stock valued at $27,000 after acquiring an additional 327 shares during the period. Crewe Advisors LLC acquired a new stake in shares of AST SpaceMobile during the 4th quarter worth approximately $25,000. Laurel Wealth Advisors LLC bought a new stake in shares of AST SpaceMobile in the 4th quarter worth approximately $25,000. Portus Wealth Advisors LLC bought a new stake in shares of AST SpaceMobile in the 1st quarter worth approximately $30,000. Finally, Advocate Investing Services LLC acquired a new position in AST SpaceMobile during the 1st quarter valued at approximately $31,000. Institutional investors own 60.95% of the company’s stock.

More 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

Wall Street Analyst Weigh In

A number of research analysts recently commented on ASTS shares. New Street Research set a $106.00 price objective on AST SpaceMobile in a research note on Friday, May 29th. William Blair reiterated a “market perform” rating on shares of AST SpaceMobile in a research note on Friday, May 29th. Piper Sandler initiated coverage on shares of AST SpaceMobile in a report on Wednesday, July 15th. They set an “overweight” rating and a $100.00 price target for the company. Roth Capital restated a “buy” rating and set a $108.00 price target on shares of AST SpaceMobile in a research report on Tuesday, May 12th. Finally, Barclays increased their price objective on shares of AST SpaceMobile from $60.00 to $65.00 and gave the stock an “underweight” rating in a report on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, AST SpaceMobile has an average rating of “Hold” and an average price target of $86.95.

Insider Transactions at AST SpaceMobile

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

AST SpaceMobile Stock Performance

Shares of NASDAQ 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 market cap of $24.04 billion, a PE ratio of -34.80 and a beta of 2.69. The stock has a 50 day simple moving average of $85.81 and a 200-day simple moving average of $88.98. The company has a current ratio of 18.47, a quick ratio of 18.37 and a debt-to-equity ratio of 1.11.

AST SpaceMobile (NASDAQ:ASTS) last posted its earnings results on Monday, May 11th. The company reported ($0.66) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.43). The business 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 firm’s revenue was up 1952.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.20) earnings per share. On average, equities research analysts forecast that AST SpaceMobile, Inc. will post -1.38 EPS for the current year.

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.