Key Colony Management LLC Makes New $3.56 Million Investment in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Key Colony Management LLC bought a new position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 136,000 shares of the company’s stock, valued at approximately $3,556,000. AST SpaceMobile comprises 4.0% of Key Colony Management LLC’s portfolio, making the stock its 4th largest holding. Key Colony Management LLC owned about 0.05% of AST SpaceMobile at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ASTS. BNP Paribas acquired a new position in shares of AST SpaceMobile in the first quarter valued at approximately $43,000. Principal Financial Group Inc. acquired a new position in shares of AST SpaceMobile in the first quarter valued at approximately $45,000. Cantor Fitzgerald L. P. acquired a new position in shares of AST SpaceMobile in the fourth quarter valued at approximately $66,000. Black Maple Capital Management LP purchased a new stake in AST SpaceMobile in the first quarter valued at approximately $87,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in AST SpaceMobile in the third quarter valued at approximately $105,000. Institutional investors and hedge funds own 60.95% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on ASTS. B. Riley boosted their target price on shares of AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of AST SpaceMobile from $22.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Scotiabank boosted their target price on shares of AST SpaceMobile from $28.00 to $45.90 and gave the company a “sector outperform” rating in a report on Monday, August 26th. Finally, UBS Group boosted their target price on shares of AST SpaceMobile from $13.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, August 15th.

AST SpaceMobile Trading Up 4.7 %

ASTS traded up $1.09 during trading on Friday, hitting $24.16. 1,977,480 shares of the company’s stock were exchanged, compared to its average volume of 10,532,300. The company has a current ratio of 6.38, a quick ratio of 6.38 and a debt-to-equity ratio of 0.83. AST SpaceMobile, Inc. has a 1 year low of $1.97 and a 1 year high of $39.08. The stock has a 50 day moving average price of $26.78 and a 200 day moving average price of $14.14. The firm has a market cap of $6.22 billion, a P/E ratio of -23.54 and a beta of 1.62.

AST SpaceMobile (NASDAQ:ASTS) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.05. The business had revenue of $0.90 million for the quarter, compared to analysts’ expectations of $2.00 million. As a group, analysts expect that AST SpaceMobile, Inc. will post -0.88 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Shanti B. Gupta sold 80,000 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $25.83, for a total transaction of $2,066,400.00. Following the transaction, the chief operating officer now directly owns 393,232 shares of the company’s stock, valued at approximately $10,157,182.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, COO Shanti B. Gupta sold 80,000 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $25.83, for a total transaction of $2,066,400.00. Following the transaction, the chief operating officer now directly owns 393,232 shares of the company’s stock, valued at approximately $10,157,182.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Adriana Cisneros bought 4,934 shares of AST SpaceMobile stock in a transaction dated Friday, September 6th. The shares were purchased at an average cost of $26.32 per share, for a total transaction of $129,862.88. Following the completion of the transaction, the director now owns 774,772 shares of the company’s stock, valued at approximately $20,391,999.04. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 127,700 shares of company stock worth $3,220,524 over the last ninety days. 56.56% of the stock is owned by company insiders.

About AST SpaceMobile

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.