9,054 Shares in AST SpaceMobile, Inc. (NASDAQ:ASTS) Purchased by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC acquired a new position in AST SpaceMobile, Inc. (NASDAQ:ASTS) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 9,054 shares of the company’s stock, valued at approximately $237,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Privium Fund Management B.V. bought a new position in AST SpaceMobile in the 3rd quarter worth about $21,476,000. Hollencrest Capital Management acquired a new stake in AST SpaceMobile in the third quarter valued at approximately $26,000. Hanseatic Management Services Inc. acquired a new stake in AST SpaceMobile in the third quarter valued at approximately $706,000. Amalgamated Bank boosted its stake in AST SpaceMobile by 17.4% in the third quarter. Amalgamated Bank now owns 4,578 shares of the company’s stock valued at $120,000 after acquiring an additional 679 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in AST SpaceMobile by 141.1% in the third quarter. Van ECK Associates Corp now owns 103,437 shares of the company’s stock valued at $2,716,000 after acquiring an additional 60,530 shares in the last quarter. 60.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

AST SpaceMobile Trading Down 3.9 %

ASTS opened at $26.80 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 6.38 and a quick ratio of 6.38. The company’s 50 day simple moving average is $25.67 and its two-hundred day simple moving average is $18.14. AST SpaceMobile, Inc. has a 1-year low of $1.97 and a 1-year high of $39.08. The firm has a market capitalization of $7.22 billion, a price-to-earnings ratio of -21.44 and a beta of 1.64.

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

Insider Activity

In related news, Director Adriana Cisneros bought 4,934 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average price of $26.32 per share, for a total transaction of $129,862.88. Following the acquisition, the director now owns 774,772 shares of the company’s stock, valued at approximately $20,391,999.04. This trade represents a 0.64 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Shanti B. Gupta sold 80,000 shares of the business’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $25.83, for a total transaction of $2,066,400.00. Following the completion of the transaction, the chief operating officer now owns 393,232 shares of the company’s stock, valued at approximately $10,157,182.56. This trade represents a 16.91 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 127,700 shares of company stock valued at $3,220,524. 41.80% of the stock is currently owned by company insiders.

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.