Stifel Financial Corp Decreases Holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Stifel Financial Corp cut its stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 53.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 110,967 shares of the company's stock after selling 125,619 shares during the quarter. Stifel Financial Corp's holdings in AST SpaceMobile were worth $2,902,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. purchased a new stake in AST SpaceMobile during the second quarter valued at $278,000. Van ECK Associates Corp raised its position in AST SpaceMobile by 141.1% in the 3rd quarter. Van ECK Associates Corp now owns 103,437 shares of the company's stock worth $2,716,000 after purchasing an additional 60,530 shares during the period. Algert Global LLC purchased a new stake in AST SpaceMobile in the 3rd quarter worth about $768,000. Americana Partners LLC bought a new stake in AST SpaceMobile in the third quarter worth about $673,000. Finally, Oppenheimer & Co. Inc. boosted its position in shares of AST SpaceMobile by 6.0% during the third 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 period. Hedge funds and other institutional investors own 60.95% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ASTS. Scotiabank decreased their price target on AST SpaceMobile from $45.90 to $44.70 and set a "sector outperform" rating for the company in a research note on Friday, November 15th. UBS Group boosted their target price on shares of AST SpaceMobile from $30.00 to $31.00 and gave the company a "buy" rating in a research note on Friday, November 15th. Deutsche Bank Aktiengesellschaft raised their price target 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. Finally, B. Riley boosted their price objective 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.

AST SpaceMobile Stock Down 5.7 %

Shares of ASTS traded down $1.42 during midday trading on Wednesday, reaching $23.36. 8,125,418 shares of the stock were exchanged, compared to its average volume of 10,448,385. The company has a market capitalization of $6.77 billion, a P/E ratio of -11.02 and a beta of 1.60. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31. AST SpaceMobile, Inc. has a 52 week low of $1.97 and a 52 week high of $39.08. The company's 50 day moving average is $24.68 and its two-hundred day moving average is $21.61.

Insider Buying and Selling

In related news, COO Shanti B. Gupta sold 80,000 shares of the business's stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $25.83, for a total value of $2,066,400.00. Following the completion of the transaction, the chief operating officer now owns 393,232 shares of the company's stock, valued at $10,157,182.56. The trade was a 16.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Scott Wisniewski sold 2,700 shares of the stock in a transaction on Monday, September 30th. The shares were sold at an average price of $23.12, for a total value of $62,424.00. Following the sale, the president now directly 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 sold a total of 127,700 shares of company stock valued at $3,220,524 over the last three months. 41.80% of the stock is owned by company insiders.

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.