Calton & Associates Inc. Acquires 1,600 Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS)

Calton & Associates Inc. raised its holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 14.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,600 shares of the company’s stock after acquiring an additional 1,600 shares during the quarter. Calton & Associates Inc.’s holdings in AST SpaceMobile were worth $329,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Janus Henderson Group PLC boosted its stake in 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 acquiring an additional 5,046,667 shares during the last quarter. 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 worth $19,325,000 after purchasing an additional 2,217,531 shares during the period. Masters Capital Management LLC acquired a new stake in AST SpaceMobile in the first quarter worth $2,900,000. Oppenheimer & Co. Inc. acquired a new stake in AST SpaceMobile in the second quarter worth $9,270,000. Finally, Bank of New York Mellon Corp raised its holdings in AST SpaceMobile by 56.4% in the second 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 period. 60.95% of the stock is owned by institutional investors.

Insider Activity

In other news, COO Shanti B. Gupta sold 80,000 shares of AST SpaceMobile stock in a transaction dated 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 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 legal filing with the SEC, which is available at this link. In other news, CTO Huiwen Yao sold 45,000 shares of AST SpaceMobile stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $24.26, for a total value of $1,091,700.00. Following the completion of the transaction, the chief technology officer now owns 55,000 shares of the company’s stock, valued at $1,334,300. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at 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 position. The disclosure for this sale can be found here. Insiders sold a total of 127,700 shares of company stock valued at $3,220,524 in the last quarter. Company insiders own 56.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Scotiabank increased their target price on shares of AST SpaceMobile from $28.00 to $45.90 and gave the stock a “sector outperform” rating in a report on Monday, August 26th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of AST SpaceMobile from $22.00 to $63.00 and gave the stock a “buy” rating in a 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 stock a “buy” rating in a report on Thursday, August 15th. Finally, B. Riley raised their price objective on shares of AST SpaceMobile from $26.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, August 29th.

AST SpaceMobile Stock Up 0.9 %

Shares of ASTS stock opened at $27.89 on Wednesday. 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 1 year low of $1.97 and a 1 year high of $39.08. The firm’s fifty day moving average price is $27.71 and its two-hundred day moving average price is $15.48. The firm has a market capitalization of $7.18 billion, a P/E ratio of -28.46 and a beta of 1.62.

AST SpaceMobile (NASDAQ:ASTS) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.14) earnings per share (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. On average, equities analysts predict 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.