Privium Fund Management B.V. Purchases New Stake in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Privium Fund Management B.V. acquired a new stake in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 821,267 shares of the company's stock, valued at approximately $21,476,000. AST SpaceMobile accounts for about 5.3% of Privium Fund Management B.V.'s investment portfolio, making the stock its 5th biggest holding. Privium Fund Management B.V. owned 0.30% of AST SpaceMobile at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. UBS Group increased their price objective 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. Deutsche Bank Aktiengesellschaft raised their price target on AST SpaceMobile from $22.00 to $63.00 and gave the company a "buy" rating in a research note on Wednesday, September 4th. B. Riley lifted their price target on AST SpaceMobile from $26.00 to $36.00 and gave the stock a "buy" rating in a report on Thursday, August 29th. Finally, Scotiabank increased their price objective on AST SpaceMobile from $28.00 to $45.90 and gave the company a "sector outperform" rating in a report on Monday, August 26th.

Insider Activity

In other AST SpaceMobile news, COO Shanti B. Gupta sold 80,000 shares of the firm's stock in a transaction on Monday, September 30th. The shares were sold at an average price of $25.83, for a total transaction of $2,066,400.00. Following the transaction, the chief operating officer now directly owns 393,232 shares of the company's stock, valued at approximately $10,157,182.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other AST SpaceMobile news, President Scott Wisniewski sold 2,700 shares of the business's stock in a transaction on Monday, September 30th. The shares were sold at an average price of $23.12, for a total value of $62,424.00. Following the transaction, the president now directly owns 712,660 shares of the company's stock, valued at approximately $16,476,699.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Shanti B. Gupta sold 80,000 shares of the company'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 transaction, 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders 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 Stock Performance

ASTS traded up $0.54 on Friday, reaching $21.99. The company had a trading volume of 7,363,922 shares, compared to its average volume of 10,459,437. The company has a quick ratio of 6.38, a current ratio of 6.38 and a debt-to-equity ratio of 0.83. AST SpaceMobile, Inc. has a 1 year low of $1.97 and a 1 year high of $39.08. The stock has a market capitalization of $5.92 billion, a PE ratio of -17.59 and a beta of 1.64. The stock has a 50-day moving average price of $25.99 and a 200-day moving average price of $17.70.

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, beating the consensus estimate of ($0.19) by $0.05. The firm had revenue of $0.90 million during the quarter, compared to analysts' expectations of $2.00 million. As a group, research analysts forecast that AST SpaceMobile, Inc. will post -0.88 EPS 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.