Hanseatic Management Services Inc. Makes New Investment in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Hanseatic Management Services Inc. purchased a new position in AST SpaceMobile, Inc. (NASDAQ:ASTS) during the 3rd quarter, Holdings Channel reports. The fund purchased 27,002 shares of the company’s stock, valued at approximately $706,000.

Several other institutional investors and hedge funds have also recently modified their holdings of ASTS. Vanguard Group Inc. raised its position in shares of AST SpaceMobile by 49.9% during the 1st 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 during the period. American International Group Inc. raised its position in shares of AST SpaceMobile by 41.5% during the 1st quarter. American International Group Inc. now owns 56,527 shares of the company’s stock valued at $164,000 after purchasing an additional 16,568 shares during the period. Natixis raised its position in shares of AST SpaceMobile by 62.2% during the 1st quarter. Natixis now owns 55,863 shares of the company’s stock valued at $162,000 after purchasing an additional 21,430 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of AST SpaceMobile by 71.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 55,335 shares of the company’s stock valued at $161,000 after purchasing an additional 22,987 shares during the period. Finally, Masters Capital Management LLC bought a new stake in shares of AST SpaceMobile during the 1st quarter valued at $2,900,000. 60.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other AST SpaceMobile news, COO Shanti B. Gupta sold 80,000 shares of AST SpaceMobile stock in a transaction on Monday, September 30th. The shares were 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 directly owns 393,232 shares of the company’s stock, valued at $10,157,182.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CTO Huiwen Yao sold 45,000 shares of the company’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $24.26, for a total transaction of $1,091,700.00. Following the transaction, the chief technology officer now directly owns 55,000 shares in the company, valued at approximately $1,334,300. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 transaction, the chief operating officer now owns 393,232 shares in the company, valued at $10,157,182.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 127,700 shares of company stock valued at $3,220,524 in the last three months. Corporate insiders own 41.80% of the company’s stock.

AST SpaceMobile Stock Performance

Shares of NASDAQ ASTS opened at $22.52 on Thursday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 6.38 and a current ratio of 6.38. The company has a market cap of $6.07 billion, a P/E ratio of -18.02 and a beta of 1.64. The firm’s fifty day moving average is $26.29 and its two-hundred day moving average is $17.32. AST SpaceMobile, Inc. has a 52-week low of $1.97 and a 52-week high of $39.08.

AST SpaceMobile (NASDAQ:ASTS) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.05. The company had revenue of $0.90 million during the quarter, compared to the consensus estimate of $2.00 million. As a group, analysts anticipate 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.