AST SpaceMobile, Inc. $ASTS is X Square Capital LLC’s 2nd Largest Position

X Square Capital LLC lowered its position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 25.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 170,350 shares of the company’s stock after selling 57,800 shares during the quarter. AST SpaceMobile accounts for 4.1% of X Square Capital LLC’s investment portfolio, making the stock its 2nd largest holding. X Square Capital LLC’s holdings in AST SpaceMobile were worth $12,373,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the company. Calton & Associates Inc. raised its position in AST SpaceMobile by 0.8% during the 4th quarter. Calton & Associates Inc. now owns 13,579 shares of the company’s stock worth $986,000 after buying an additional 104 shares during the last quarter. Investmark Advisory Group LLC raised 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 buying an additional 120 shares during the last quarter. ORG Partners LLC raised its position in AST SpaceMobile by 4.2% during the 4th quarter. ORG Partners LLC now owns 3,283 shares of the company’s stock worth $238,000 after buying an additional 133 shares during the last quarter. Atlantic Union Bankshares Corp raised its position in AST SpaceMobile by 18.2% during the 4th quarter. Atlantic Union Bankshares Corp now owns 923 shares of the company’s stock worth $67,000 after buying an additional 142 shares during the last quarter. Finally, Larson Financial Group LLC raised its position in AST SpaceMobile by 39.0% during the 4th 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 last quarter. Hedge funds and other institutional investors own 60.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ASTS shares. William Blair restated a “market perform” rating on shares of AST SpaceMobile in a research report on Friday, May 29th. Deutsche Bank Aktiengesellschaft downgraded shares of AST SpaceMobile from a “buy” rating to a “hold” rating and cut their price target for the company from $117.00 to $106.00 in a report on Friday, May 29th. B. Riley Financial increased their price target on shares of AST SpaceMobile from $75.00 to $85.00 and gave the company a “neutral” rating in a report on Tuesday, May 12th. Barclays increased their price target on shares of AST SpaceMobile from $60.00 to $65.00 and gave the company an “underweight” rating in a report on Thursday, April 9th. Finally, UBS Group cut their price target on shares of AST SpaceMobile from $85.00 to $80.00 and set a “neutral” rating for the company in a report on Tuesday, May 12th. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, AST SpaceMobile currently has an average rating of “Reduce” and a consensus price target of $81.33.

Insider Activity

In other news, Director Julio A. Torres sold 15,000 shares of the 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 transaction, the director directly owned 43,239 shares in the company, valued at $3,300,865.26. This represents a 25.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Huiwen Yao sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $96.37, for a total transaction of $3,854,800.00. Following the completion of the transaction, the chief technology officer owned 34,750 shares in the company, valued at $3,348,857.50. The trade was a 53.51% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 3,140,000 shares of company stock valued at $279,903,150 over the last quarter. 20.89% of the stock is currently owned by company insiders.

AST SpaceMobile Price Performance

Shares of NASDAQ ASTS opened at $92.06 on Tuesday. The stock has a market cap of $35.73 billion, a price-to-earnings ratio of -51.72 and a beta of 2.70. AST SpaceMobile, Inc. has a 52 week low of $32.25 and a 52 week high of $133.86. The company’s 50-day moving average price is $89.69 and its 200 day moving average price is $87.16. 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 issued its quarterly earnings data on Monday, May 11th. The company reported ($0.66) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.43). The business had revenue of $14.74 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%. AST SpaceMobile’s revenue was up 1952.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.20) earnings per share. As a group, research analysts forecast that AST SpaceMobile, Inc. will post -1.47 earnings per share 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.