AST SpaceMobile, Inc. (NASDAQ:ASTS) Shares Sold by Hussman Strategic Advisors Inc.

Hussman Strategic Advisors Inc. reduced its position in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 66.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,000 shares of the company's stock after selling 84,000 shares during the period. Hussman Strategic Advisors Inc.'s holdings in AST SpaceMobile were worth $886,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in shares of AST SpaceMobile by 235.9% in the third quarter. JPMorgan Chase & Co. now owns 247,781 shares of the company's stock valued at $6,479,000 after buying an additional 174,007 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of AST SpaceMobile by 141.1% in the third quarter. Van ECK Associates Corp now owns 103,437 shares of the company's stock valued at $2,716,000 after purchasing an additional 60,530 shares during the period. Algert Global LLC acquired a new stake in AST SpaceMobile during the 3rd quarter valued at $768,000. Americana Partners LLC acquired a new position in AST SpaceMobile in the 3rd quarter worth $673,000. Finally, Oppenheimer & Co. Inc. boosted its position in AST SpaceMobile by 6.0% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 846,072 shares of the company's stock valued at $22,125,000 after buying an additional 47,600 shares during the last quarter. Institutional investors and hedge funds own 60.95% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Cantor Fitzgerald assumed coverage on AST SpaceMobile in a research note on Thursday, February 6th. They issued an "overweight" rating and a $30.00 price target on the stock. Scotiabank cut their target price on AST SpaceMobile from $44.70 to $40.20 and set a "sector outperform" rating on the stock in a research report on Friday, January 24th. Finally, UBS Group raised their price target on shares of AST SpaceMobile from $30.00 to $31.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $40.04.

AST SpaceMobile Stock Performance

Shares of ASTS traded down $0.43 during mid-day trading on Monday, hitting $28.21. The stock had a trading volume of 12,013,428 shares, compared to its average volume of 11,652,093. AST SpaceMobile, Inc. has a fifty-two week low of $1.97 and a fifty-two week high of $39.08. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31. The company has a market cap of $8.17 billion, a PE ratio of -13.28 and a beta of 1.62. The company's fifty day simple moving average is $23.87 and its two-hundred day simple moving average is $25.32.

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.