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

Encompass Wealth Advisors LLC grew its position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 36.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 36,049 shares of the company’s stock after acquiring an additional 9,678 shares during the quarter. Encompass Wealth Advisors LLC’s holdings in AST SpaceMobile were worth $943,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in ASTS. Amalgamated Bank boosted its position in AST SpaceMobile by 17.4% during the third quarter. Amalgamated Bank now owns 4,578 shares of the company’s stock worth $120,000 after purchasing an additional 679 shares during the period. Victory Capital Management Inc. increased its stake in shares of AST SpaceMobile by 5.5% during the second quarter. Victory Capital Management Inc. now owns 15,542 shares of the company’s stock worth $180,000 after purchasing an additional 814 shares during the period. Fairfield Financial Advisors LTD bought a new stake in AST SpaceMobile in the 3rd quarter valued at $26,000. Hollencrest Capital Management acquired a new position in AST SpaceMobile in the 3rd quarter valued at $26,000. Finally, Calton & Associates Inc. increased its position in AST SpaceMobile by 14.5% during the 3rd quarter. Calton & Associates Inc. now owns 12,600 shares of the company’s stock worth $329,000 after buying an additional 1,600 shares during the period. Institutional investors own 60.95% of the company’s stock.

Insider Activity

In other AST SpaceMobile news, Director Adriana Cisneros bought 4,934 shares of the stock in a transaction on Friday, September 6th. The stock was purchased at an average price 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 in the company, valued at $20,391,999.04. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Adriana Cisneros bought 4,934 shares of the business’s stock in a transaction on Friday, September 6th. The shares were purchased at an average price of $26.32 per share, for a total transaction 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 approximately $20,391,999.04. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CTO Huiwen Yao sold 45,000 shares of the company’s stock in a transaction on Tuesday, October 8th. The stock was 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 owns 55,000 shares of the company’s stock, valued at $1,334,300. 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 quarter, insiders have sold 127,700 shares of company stock worth $3,220,524. Insiders own 41.80% of the company’s stock.

Analyst Upgrades and Downgrades

ASTS has been the subject of a number of recent research reports. B. Riley boosted their target price on shares of AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft increased their target price on shares of AST SpaceMobile from $22.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. 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, Scotiabank increased their price target 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.

AST SpaceMobile Trading Down 2.0 %

ASTS opened at $24.26 on Wednesday. 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 twelve month low of $1.97 and a twelve month high of $39.08. The company has a 50-day simple moving average of $25.80 and a 200 day simple moving average of $18.01.

AST SpaceMobile (NASDAQ:ASTS) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.05. The firm had revenue of $0.90 million for the quarter, compared to analyst estimates of $2.00 million. On average, research analysts predict that AST SpaceMobile, Inc. will post -0.88 earnings per share 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.