Marshall Wace LLP Purchases 76,088 Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS)

Marshall Wace LLP lifted its stake in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 150.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 126,685 shares of the company's stock after acquiring an additional 76,088 shares during the period. Marshall Wace LLP's holdings in AST SpaceMobile were worth $1,471,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ASTS. Victory Capital Management Inc. lifted its position in AST SpaceMobile by 5.5% during the 2nd quarter. Victory Capital Management Inc. now owns 15,542 shares of the company's stock worth $180,000 after acquiring an additional 814 shares during the last quarter. Accordant Advisory Group Inc grew its holdings in AST SpaceMobile by 2.0% in the 2nd quarter. Accordant Advisory Group Inc now owns 162,823 shares of the company's stock valued at $1,890,000 after buying an additional 3,146 shares during the last quarter. MBE Wealth Management LLC increased its position in AST SpaceMobile by 34.1% in the 2nd quarter. MBE Wealth Management LLC now owns 27,000 shares of the company's stock worth $313,000 after buying an additional 6,870 shares during the period. Cantor Fitzgerald L. P. acquired a new position in shares of AST SpaceMobile during the fourth quarter worth approximately $66,000. Finally, Calton & Associates Inc. acquired a new stake in shares of AST SpaceMobile in the second quarter worth $128,000. Institutional investors and hedge funds own 60.95% of the company's stock.

AST SpaceMobile Trading Up 12.4 %

ASTS traded up $2.89 during mid-day trading on Friday, hitting $26.11. The stock had a trading volume of 12,410,407 shares, compared to its average volume of 10,632,274. The stock's fifty day simple moving average is $26.44 and its 200-day simple moving average is $13.63. The firm has a market capitalization of $6.72 billion, a price-to-earnings ratio of -26.64 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. The company has a debt-to-equity ratio of 0.83, a current ratio of 6.38 and a quick ratio of 6.38.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) 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 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ASTS shares. UBS Group upped their target price on AST SpaceMobile from $13.00 to $30.00 and gave the company a "buy" rating in a research note on Thursday, August 15th. Scotiabank increased their target price on shares of AST SpaceMobile from $28.00 to $45.90 and gave the stock a "sector outperform" rating in a research report on Monday, August 26th. Deutsche Bank Aktiengesellschaft increased 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. Finally, B. Riley increased their target price on AST SpaceMobile from $26.00 to $36.00 and gave the stock a "buy" rating in a report on Thursday, August 29th.

Insider Activity

In other AST SpaceMobile news, President Scott Wisniewski sold 2,700 shares of the stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $23.12, for a total transaction of $62,424.00. Following the completion of the transaction, the president now owns 712,660 shares in the company, valued at approximately $16,476,699.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other AST SpaceMobile news, President Scott Wisniewski sold 2,700 shares of the firm's stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $23.12, for a total value of $62,424.00. Following the completion of the transaction, the president now directly owns 712,660 shares in the company, valued at $16,476,699.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Adriana Cisneros acquired 4,934 shares of the stock in a transaction dated Friday, September 6th. The shares were purchased at an average price of $26.32 per share, for a total transaction of $129,862.88. Following the completion of the purchase, the director now directly owns 774,772 shares in the company, valued at $20,391,999.04. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 56.56% of the stock is currently owned by company insiders.

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.