Weiss Asset Management LP bought a new stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 50,000 shares of the company's stock, valued at approximately $1,308,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in 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 in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of AST SpaceMobile by 71.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 55,335 shares of the company's stock worth $161,000 after buying an additional 22,987 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of AST SpaceMobile in the second quarter worth $334,000. Accordant Advisory Group Inc raised its holdings in AST SpaceMobile by 2.0% in the second quarter. Accordant Advisory Group Inc now owns 162,823 shares of the company's stock valued at $1,890,000 after acquiring an additional 3,146 shares in the last quarter. Finally, Calton & Associates Inc. acquired a new stake in AST SpaceMobile in the second quarter valued at $128,000. 60.95% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In related news, CTO Huiwen Yao sold 45,000 shares of the 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 sale, the chief technology officer now owns 55,000 shares of the company's stock, valued at $1,334,300. This trade represents a 45.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Scott Wisniewski sold 2,700 shares of AST SpaceMobile stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $23.12, for a total transaction of $62,424.00. Following the completion of the sale, the president now owns 712,660 shares in the company, valued at approximately $16,476,699.20. This represents a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 127,700 shares of company stock valued at $3,220,524 over the last quarter. Insiders own 41.80% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on ASTS shares. B. Riley boosted their target price on shares of AST SpaceMobile from $26.00 to $36.00 and gave the stock a "buy" rating in a research report on Thursday, August 29th. Scotiabank lowered their price objective on AST SpaceMobile from $45.90 to $44.70 and set a "sector outperform" rating for the company in a report on Friday, November 15th. Deutsche Bank Aktiengesellschaft increased their target price on AST SpaceMobile from $22.00 to $63.00 and gave the stock a "buy" rating in a report on Wednesday, September 4th. Finally, UBS Group boosted their price target on AST SpaceMobile from $30.00 to $31.00 and gave the company a "buy" rating in a report on Friday, November 15th.
Get Our Latest Research Report on ASTS
AST SpaceMobile Stock Performance
Shares of NASDAQ ASTS traded up $0.66 during midday trading on Monday, hitting $25.99. The company's stock had a trading volume of 17,452,352 shares, compared to its average volume of 10,577,046. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80. 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 $24.72 and its 200-day moving average price is $20.72. The firm has a market cap of $7.53 billion, a P/E ratio of -12.26 and a beta of 1.60.
AST SpaceMobile Company Profile
(
Free Report)
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.
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