International Assets Investment Management LLC Purchases New Position in AST SpaceMobile, Inc. (NASDAQ:ASTS)

International Assets Investment Management LLC purchased a new stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) in the 3rd quarter, Holdings Channel reports. The fund purchased 27,745 shares of the company’s stock, valued at approximately $7,260,000.

A number of other institutional investors also recently modified their holdings of the stock. BNP Paribas acquired a new position in shares of AST SpaceMobile during the first quarter worth approximately $43,000. Principal Financial Group Inc. bought a new position in AST SpaceMobile in the 1st quarter valued at $45,000. Black Maple Capital Management LP bought a new position in AST SpaceMobile in the 1st quarter valued at $87,000. Future Financial Wealth Managment LLC bought a new position in AST SpaceMobile in the 3rd quarter valued at $105,000. Finally, Calton & Associates Inc. bought a new position in shares of AST SpaceMobile in the 2nd quarter worth $128,000. 60.95% of the stock is owned by institutional investors.

AST SpaceMobile Stock Performance

ASTS stock opened at $23.81 on Friday. The business’s 50-day moving average price is $26.91 and its two-hundred day moving average price is $16.61. 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 cap of $6.41 billion, a PE ratio of -19.05 and a beta of 1.62. AST SpaceMobile, Inc. has a 1-year low of $1.97 and a 1-year high of $39.08.

AST SpaceMobile (NASDAQ:ASTS) last posted its earnings results on Wednesday, August 14th. The company reported ($0.14) earnings per share 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 the consensus estimate of $2.00 million. As a group, research analysts forecast that AST SpaceMobile, Inc. will post -0.88 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, Director Adriana Cisneros purchased 4,934 shares of the company’s stock in a transaction on Friday, September 6th. The shares were purchased at an average price of $26.32 per share, with a total value of $129,862.88. Following the purchase, the director now directly owns 774,772 shares of the company’s stock, valued at $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 can be accessed through this link. In related news, COO Shanti B. Gupta sold 80,000 shares of AST SpaceMobile stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $25.83, for a total value of $2,066,400.00. Following the sale, the chief operating officer now 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Adriana Cisneros bought 4,934 shares of the 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 transaction, the director now owns 774,772 shares of the company’s stock, valued at $20,391,999.04. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 127,700 shares of company stock worth $3,220,524. Corporate 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.