Privium Fund Management B.V. Acquires Shares of 821,267 AST SpaceMobile, Inc. (NASDAQ:ASTS)

Privium Fund Management B.V. bought a new position in AST SpaceMobile, Inc. (NASDAQ:ASTS) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 821,267 shares of the company’s stock, valued at approximately $21,476,000. AST SpaceMobile comprises approximately 5.3% of Privium Fund Management B.V.’s holdings, making the stock its 5th biggest holding.

A number of other large investors have also made changes to their positions in ASTS. Fairfield Financial Advisors LTD acquired a new position in AST SpaceMobile during the third quarter valued at $26,000. Hollencrest Capital Management acquired a new position in shares of AST SpaceMobile in the 3rd quarter valued at about $26,000. Black Maple Capital Management LP purchased a new stake in shares of AST SpaceMobile in the first quarter worth approximately $87,000. Future Financial Wealth Managment LLC acquired a new stake in shares of AST SpaceMobile during the third quarter worth approximately $105,000. Finally, Amalgamated Bank grew its position in AST SpaceMobile by 17.4% during the third quarter. Amalgamated Bank now owns 4,578 shares of the company’s stock valued at $120,000 after purchasing an additional 679 shares in the last quarter. Institutional investors and hedge funds own 60.95% of the company’s stock.

Insider Buying and Selling

In other AST SpaceMobile news, CTO Huiwen Yao sold 45,000 shares of the stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $24.26, for a total transaction of $1,091,700.00. Following the transaction, the chief technology officer now owns 55,000 shares in the company, valued at $1,334,300. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other 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 transaction, the chief operating officer now directly owns 393,232 shares in the company, 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 accessible through this hyperlink. Also, CTO Huiwen Yao sold 45,000 shares of the stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $24.26, for a total value of $1,091,700.00. Following the sale, the chief technology officer now owns 55,000 shares of the company’s stock, valued at approximately $1,334,300. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 127,700 shares of company stock worth $3,220,524. 41.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ASTS shares. UBS Group increased their target price on shares of AST SpaceMobile from $13.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft increased their price objective on AST SpaceMobile from $22.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Scotiabank upped their target price 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. Finally, 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 note on Thursday, August 29th.

AST SpaceMobile Stock Up 2.5 %

AST SpaceMobile stock opened at $21.99 on Friday. The company has a market capitalization of $5.92 billion, a P/E ratio of -17.59 and a beta of 1.64. AST SpaceMobile, Inc. has a 1-year low of $1.97 and a 1-year high of $39.08. The firm’s fifty day simple moving average is $25.99 and its 200-day simple moving average is $17.59. 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 (NASDAQ:ASTS) last announced its quarterly 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 company had revenue of $0.90 million during the quarter, compared to analyst estimates of $2.00 million. Sell-side analysts forecast that AST SpaceMobile, Inc. will post -0.88 earnings per share for the current fiscal year.

AST SpaceMobile Company 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.