29,370 Shares in AST SpaceMobile, Inc. (NASDAQ:ASTS) Bought by Algert Global LLC

Algert Global LLC purchased a new stake in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 29,370 shares of the company's stock, valued at approximately $768,000.

Other large investors have also recently bought and sold shares of the company. Fairfield Financial Advisors LTD bought a new stake in shares of AST SpaceMobile during the third quarter worth approximately $26,000. Hollencrest Capital Management bought a new stake in AST SpaceMobile in the 3rd quarter valued at $26,000. Rakuten Securities Inc. bought a new position in AST SpaceMobile during the 3rd quarter worth $68,000. KBC Group NV bought a new position in AST SpaceMobile during the 3rd quarter worth $104,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of AST SpaceMobile during the third quarter worth $105,000. 60.95% of the stock is owned by institutional investors.

AST SpaceMobile Price Performance

NASDAQ:ASTS traded up $0.52 on Friday, hitting $23.81. The company had a trading volume of 4,272,793 shares, compared to its average volume of 10,607,167. AST SpaceMobile, Inc. has a 52 week low of $1.97 and a 52 week high of $39.08. The stock has a market capitalization of $6.90 billion, a price-to-earnings ratio of -11.23 and a beta of 1.64. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31. The firm has a 50 day moving average of $24.91 and a two-hundred day moving average of $19.81.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Scotiabank decreased their price target on shares of AST SpaceMobile from $45.90 to $44.70 and set a "sector outperform" rating on the stock in a research note on Friday, November 15th. UBS Group raised their target price on shares of AST SpaceMobile from $30.00 to $31.00 and gave the stock a "buy" rating in a report on Friday, November 15th. B. Riley increased their price target on AST SpaceMobile from $26.00 to $36.00 and gave the stock a "buy" rating in a research report on Thursday, August 29th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of AST SpaceMobile from $22.00 to $63.00 and gave the stock a "buy" rating in a research note on Wednesday, September 4th.

Insider Buying and Selling

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 cost of $26.32 per share, with a total value of $129,862.88. Following the acquisition, the director now owns 774,772 shares of the company's stock, valued at $20,391,999.04. This represents a 0.64 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Scott Wisniewski sold 2,700 shares of the company's stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $23.12, for a total value of $62,424.00. Following the completion of the sale, the president now owns 712,660 shares in the company, valued at $16,476,699.20. This trade represents a 0.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 127,700 shares of company stock worth $3,220,524 in the last 90 days. Insiders own 41.80% of the company's stock.

AST SpaceMobile 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.