AST SpaceMobile, Inc. (NASDAQ:ASTS) Shares Acquired by Fmr LLC

FMR LLC grew its stake in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 230.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,638 shares of the company's stock after acquiring an additional 27,644 shares during the quarter. FMR LLC's holdings in AST SpaceMobile were worth $1,037,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Amalgamated Bank grew its position in shares of AST SpaceMobile by 17.4% during the third quarter. Amalgamated Bank now owns 4,578 shares of the company's stock valued at $120,000 after purchasing an additional 679 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of AST SpaceMobile by 5.5% in the 2nd quarter. Victory Capital Management Inc. now owns 15,542 shares of the company's stock worth $180,000 after buying an additional 814 shares during the period. Fairfield Financial Advisors LTD purchased a new position in AST SpaceMobile during the 3rd quarter valued at about $26,000. Hollencrest Capital Management bought a new position in shares of AST SpaceMobile in the 3rd quarter worth $26,000. Finally, Calton & Associates Inc. lifted its position in AST SpaceMobile by 14.5% during the third quarter. Calton & Associates Inc. now owns 12,600 shares of the company's stock valued at $329,000 after acquiring an additional 1,600 shares during the last quarter. Institutional investors own 60.95% of the company's stock.

Wall Street Analysts Forecast Growth

ASTS has been the subject of a number of research reports. Scotiabank lowered their price target on AST SpaceMobile from $45.90 to $44.70 and set a "sector outperform" rating for the company in a research report on Friday, November 15th. UBS Group increased 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. Deutsche Bank Aktiengesellschaft lifted their target price on AST SpaceMobile from $22.00 to $63.00 and gave the company a "buy" rating in a research report on Wednesday, September 4th. Finally, B. Riley boosted their target price on AST SpaceMobile from $26.00 to $36.00 and gave the company a "buy" rating in a research report on Thursday, August 29th.

Insider Buying and Selling at AST SpaceMobile

In related news, CTO Huiwen Yao sold 45,000 shares of the company's stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $24.26, for a total transaction of $1,091,700.00. Following the completion of the transaction, the chief technology officer now owns 55,000 shares of the company's stock, valued at approximately $1,334,300. This represents a 45.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 value of $62,424.00. Following the completion of the transaction, the president now directly owns 712,660 shares in the company, valued at $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. Over the last three months, insiders sold 127,700 shares of company stock valued at $3,220,524. Corporate insiders own 41.80% of the company's stock.

AST SpaceMobile Price Performance

Shares of ASTS traded up $0.48 during mid-day trading on Tuesday, hitting $24.78. The company's stock had a trading volume of 6,983,073 shares, compared to its average volume of 10,457,845. 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 1-year low of $1.97 and a 1-year high of $39.08. The firm has a 50-day simple moving average of $24.66 and a 200 day simple moving average of $21.60. The firm has a market capitalization of $7.18 billion, a P/E ratio of -11.69 and a beta of 1.60.

About AST SpaceMobile

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.