AST SpaceMobile, Inc. (NASDAQ:ASTS) Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp raised its stake in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 141.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,437 shares of the company's stock after purchasing an additional 60,530 shares during the period. Van ECK Associates Corp's holdings in AST SpaceMobile were worth $2,716,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in AST SpaceMobile by 49.9% in the first quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company's stock valued at $19,325,000 after acquiring an additional 2,217,531 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in shares of AST SpaceMobile in the 2nd quarter valued at approximately $278,000. Americana Partners LLC acquired a new stake in shares of AST SpaceMobile in the 3rd quarter valued at $673,000. Nisa Investment Advisors LLC lifted its position in shares of AST SpaceMobile by 2,418.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 31,027 shares of the company's stock worth $811,000 after purchasing an additional 29,795 shares during the last quarter. Finally, Marshall Wace LLP grew its stake in shares of AST SpaceMobile by 150.4% during the second quarter. Marshall Wace LLP now owns 126,685 shares of the company's stock worth $1,471,000 after purchasing an additional 76,088 shares in the last quarter. Hedge funds and other institutional investors own 60.95% of the company's stock.

AST SpaceMobile Stock Performance

Shares of AST SpaceMobile stock traded up $2.77 on Monday, hitting $24.76. The stock had a trading volume of 11,060,110 shares, compared to its average volume of 10,555,900. The company's 50 day moving average price is $25.99 and its 200 day moving average price is $17.70. The stock has a market cap of $6.67 billion, a price-to-earnings ratio of -19.74 and a beta of 1.64. 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, Inc. has a 52-week low of $1.97 and a 52-week high of $39.08.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($0.14) earnings per share for the quarter, beating analysts' consensus estimates 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. On average, research analysts anticipate that AST SpaceMobile, Inc. will post -0.88 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft lifted their price target on AST SpaceMobile from $22.00 to $63.00 and gave the stock a "buy" rating in a report on Wednesday, September 4th. B. Riley increased their price target on shares of AST SpaceMobile from $26.00 to $36.00 and gave the company a "buy" rating in a research note on Thursday, August 29th. UBS Group increased their price target on shares of AST SpaceMobile from $13.00 to $30.00 and gave the company a "buy" rating in a research note on Thursday, August 15th. Finally, Scotiabank boosted their price objective 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.

Insider Buying and Selling at AST SpaceMobile

In other AST SpaceMobile news, President Scott Wisniewski sold 2,700 shares of the company'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 transaction of $62,424.00. Following the completion of the sale, the president now directly owns 712,660 shares of the company's stock, valued at $16,476,699.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Adriana Cisneros bought 4,934 shares of AST SpaceMobile stock in a transaction dated Friday, September 6th. The stock was bought at an average price of $26.32 per share, for a total transaction of $129,862.88. Following the purchase, the director now owns 774,772 shares of the company's stock, valued at approximately $20,391,999.04. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Scott Wisniewski sold 2,700 shares of AST SpaceMobile stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $23.12, for a total transaction of $62,424.00. Following the completion of the sale, the president now directly owns 712,660 shares in the company, valued at approximately $16,476,699.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 127,700 shares of company stock worth $3,220,524. 41.80% of the stock is 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.