Fairfield Financial Advisors LTD Invests $26,000 in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Fairfield Financial Advisors LTD acquired a new stake in AST SpaceMobile, Inc. (NASDAQ:ASTS) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,000 shares of the company’s stock, valued at approximately $26,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Janus Henderson Group PLC increased its position in shares of AST SpaceMobile by 209.9% in the first quarter. Janus Henderson Group PLC now owns 7,450,467 shares of the company’s stock valued at $21,606,000 after buying an additional 5,046,667 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of 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 purchasing an additional 2,217,531 shares in the last quarter. Masters Capital Management LLC acquired a new stake in shares of AST SpaceMobile in the first quarter valued at approximately $2,900,000. Oppenheimer & Co. Inc. purchased a new position in shares of AST SpaceMobile during the 2nd quarter worth approximately $9,270,000. Finally, Bank of New York Mellon Corp raised its position in shares of AST SpaceMobile by 56.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 472,769 shares of the company’s stock worth $5,489,000 after purchasing an additional 170,440 shares during the last quarter. 60.95% of the stock is owned by institutional investors and hedge funds.

AST SpaceMobile Trading Down 5.3 %

ASTS stock opened at $23.81 on Friday. The business has a fifty day simple moving average of $26.91 and a 200-day simple moving average of $16.61. The company has a market cap of $6.41 billion, a price-to-earnings ratio of -19.05 and a beta of 1.62. 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 52 week low of $1.97 and a 52 week 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 (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.05. The business had revenue of $0.90 million for the quarter, compared to analyst estimates of $2.00 million. On average, equities research analysts expect that AST SpaceMobile, Inc. will post -0.88 EPS for the current year.

Insider Transactions at AST SpaceMobile

In other AST SpaceMobile news, COO Shanti B. Gupta sold 80,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief operating officer now owns 393,232 shares in the company, valued at $10,157,182.56. 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 through the SEC website. In other AST SpaceMobile news, Director Adriana Cisneros bought 4,934 shares of the stock in a transaction dated 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 completion of the purchase, the director now directly 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Shanti B. Gupta sold 80,000 shares of the business’s 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 completion of the transaction, the chief operating officer now owns 393,232 shares in the company, valued at approximately $10,157,182.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 127,700 shares of company stock valued at $3,220,524 over the last 90 days. Corporate insiders own 41.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. 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. B. Riley lifted their price objective 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 upped their target price on shares of AST SpaceMobile from $13.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Finally, Scotiabank raised 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.

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.