Private Advisor Group LLC Raises Stock Position in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Private Advisor Group LLC boosted its holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 18.2% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 19,170 shares of the company’s stock after buying an additional 2,955 shares during the period. Private Advisor Group LLC’s holdings in AST SpaceMobile were worth $501,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of ASTS. Vanguard Group Inc. boosted its holdings in shares of AST SpaceMobile by 49.9% during the 1st quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company’s stock valued at $19,325,000 after purchasing an additional 2,217,531 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new position in shares of AST SpaceMobile in the 2nd quarter valued at about $278,000. Marshall Wace LLP lifted its stake in AST SpaceMobile by 150.4% in the second quarter. Marshall Wace LLP now owns 126,685 shares of the company’s stock worth $1,471,000 after purchasing an additional 76,088 shares during the last quarter. Key Colony Management LLC bought a new stake in AST SpaceMobile in the third quarter worth about $3,556,000. Finally, American International Group Inc. lifted its stake in AST SpaceMobile by 41.5% in the first quarter. American International Group Inc. now owns 56,527 shares of the company’s stock worth $164,000 after purchasing an additional 16,568 shares during the last quarter. Hedge funds and other institutional investors own 60.95% of the company’s stock.

Wall Street Analyst Weigh In

ASTS has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft raised their target price on shares of AST SpaceMobile from $22.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. B. Riley raised their target price on shares of AST SpaceMobile from $26.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Scotiabank lifted their price objective 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 lifted their price objective 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 Price Performance

NASDAQ ASTS opened at $23.94 on Tuesday. AST SpaceMobile, Inc. has a 12-month low of $1.97 and a 12-month high of $39.08. The firm’s fifty day simple moving average is $26.53 and its two-hundred day simple moving average is $17.13. The company has a current ratio of 6.38, a quick ratio of 6.38 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $6.45 billion, a P/E ratio of -19.15 and a beta of 1.64.

AST SpaceMobile (NASDAQ:ASTS) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.05. The company had revenue of $0.90 million for the quarter, compared to analyst estimates of $2.00 million. Analysts forecast that AST SpaceMobile, Inc. will post -0.88 EPS for the current fiscal year.

Insider Activity at AST SpaceMobile

In other AST SpaceMobile news, Director Adriana Cisneros bought 4,934 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was bought 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 directly owns 774,772 shares of the company’s stock, valued at approximately $20,391,999.04. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Adriana Cisneros acquired 4,934 shares of the business’s stock in a transaction on Friday, September 6th. The stock was bought at an average price of $26.32 per share, with a total value of $129,862.88. Following the completion of the acquisition, 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Huiwen Yao sold 45,000 shares of AST SpaceMobile stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $24.26, for a total transaction of $1,091,700.00. Following the completion of the transaction, the chief technology officer now directly owns 55,000 shares of the company’s stock, valued at $1,334,300. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 127,700 shares of company stock worth $3,220,524 over the last three months. Company insiders own 41.80% of the company’s stock.

AST SpaceMobile Profile

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.