Hollencrest Capital Management Makes New Investment in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Hollencrest Capital Management bought a new position in AST SpaceMobile, Inc. (NASDAQ:ASTS) in the 3rd quarter, Holdings Channel.com reports. The firm bought 1,000 shares of the company’s stock, valued at approximately $26,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hanseatic Management Services Inc. acquired a new stake in AST SpaceMobile in the third quarter valued at about $706,000. Amalgamated Bank boosted its stake in shares of AST SpaceMobile by 17.4% in the third quarter. Amalgamated Bank now owns 4,578 shares of the company’s stock valued at $120,000 after buying an additional 679 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of AST SpaceMobile by 141.1% in the third quarter. Van ECK Associates Corp now owns 103,437 shares of the company’s stock valued at $2,716,000 after buying an additional 60,530 shares in the last quarter. Chicago Partners Investment Group LLC grew its holdings in AST SpaceMobile by 7.0% during the third quarter. Chicago Partners Investment Group LLC now owns 51,854 shares of the company’s stock worth $1,362,000 after acquiring an additional 3,370 shares during the period. Finally, Americana Partners LLC acquired a new stake in AST SpaceMobile in the third quarter valued at $673,000. Hedge funds and other institutional investors own 60.95% of the company’s stock.

AST SpaceMobile Price Performance

Shares of NASDAQ ASTS opened at $21.99 on Friday. The company has a current ratio of 6.38, a quick ratio of 6.38 and a debt-to-equity ratio of 0.83. The company’s 50-day moving average price is $25.99 and its 200 day moving average price is $17.59. AST SpaceMobile, Inc. has a 52 week low of $1.97 and a 52 week high of $39.08. The stock has a market cap of $5.92 billion, a price-to-earnings ratio of -17.59 and a beta of 1.64.

AST SpaceMobile (NASDAQ:ASTS) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.05. The business had revenue of $0.90 million during the quarter, compared to analyst estimates of $2.00 million. As a group, research analysts forecast that AST SpaceMobile, Inc. will post -0.88 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of AST SpaceMobile from $22.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Scotiabank upped 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. UBS Group lifted their price target 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. Finally, B. Riley upped 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.

Insider Buying and Selling at AST SpaceMobile

In related news, Director Adriana Cisneros purchased 4,934 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was bought at an average cost of $26.32 per share, with a total value of $129,862.88. Following the completion of the acquisition, 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Adriana Cisneros acquired 4,934 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average price of $26.32 per share, for a total transaction of $129,862.88. Following the transaction, the director now owns 774,772 shares in the company, valued at $20,391,999.04. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Shanti B. Gupta sold 80,000 shares of the company’s stock in a transaction dated 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 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 127,700 shares of company stock worth $3,220,524. 41.80% of the stock is owned by insiders.

About AST SpaceMobile

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.