Encompass Wealth Advisors LLC Has $943,000 Stock Holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Encompass Wealth Advisors LLC raised its holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 36.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 36,049 shares of the company’s stock after acquiring an additional 9,678 shares during the period. Encompass Wealth Advisors LLC’s holdings in AST SpaceMobile were worth $943,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of ASTS. Fairfield Financial Advisors LTD bought a new position in shares of AST SpaceMobile during the third quarter worth about $26,000. Hollencrest Capital Management bought a new position in AST SpaceMobile during the 3rd quarter worth approximately $26,000. Rakuten Securities Inc. bought a new position in AST SpaceMobile during the 3rd quarter worth approximately $68,000. Future Financial Wealth Managment LLC acquired a new position in shares of AST SpaceMobile in the 3rd quarter worth approximately $105,000. Finally, Amalgamated Bank boosted its stake in shares of AST SpaceMobile by 17.4% in the 3rd quarter. Amalgamated Bank now owns 4,578 shares of the company’s stock valued at $120,000 after purchasing an additional 679 shares during the last quarter. Institutional investors own 60.95% of the company’s stock.

Insiders Place Their Bets

In other news, Director Adriana Cisneros bought 4,934 shares of the stock in a transaction dated Friday, September 6th. The shares were bought at an average cost of $26.32 per share, with a total value of $129,862.88. Following the completion of the transaction, the director now directly owns 774,772 shares of the company’s stock, valued at $20,391,999.04. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other AST SpaceMobile news, COO Shanti B. Gupta sold 80,000 shares of AST SpaceMobile stock in a transaction dated Monday, September 30th. The stock was 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Adriana Cisneros acquired 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, with a total value of $129,862.88. Following the completion of 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 disclosure for this purchase can be found here. Over the last quarter, insiders have sold 127,700 shares of company stock worth $3,220,524. Corporate insiders own 41.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. B. Riley lifted their target price on shares of AST SpaceMobile from $26.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Scotiabank lifted their price objective on AST SpaceMobile from $28.00 to $45.90 and gave the stock a “sector outperform” rating in a research report on Monday, August 26th. Deutsche Bank Aktiengesellschaft upped their target price on AST SpaceMobile from $22.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Finally, UBS Group lifted their target price on AST SpaceMobile from $13.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, August 15th.

AST SpaceMobile Stock Down 2.0 %

NASDAQ:ASTS opened at $24.26 on Wednesday. AST SpaceMobile, Inc. has a 12 month low of $1.97 and a 12 month high of $39.08. 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 firm has a fifty day simple moving average of $25.80 and a two-hundred day simple moving average of $18.01.

AST SpaceMobile (NASDAQ:ASTS) last issued its 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 firm had revenue of $0.90 million during the quarter, compared to analyst estimates of $2.00 million. As a group, sell-side analysts expect that AST SpaceMobile, Inc. will post -0.88 earnings per share for the current 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.