FORA Capital LLC Takes $4.22 Million Position in AST SpaceMobile, Inc. (NASDAQ:ASTS)

FORA Capital LLC acquired a new position in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 161,182 shares of the company's stock, valued at approximately $4,215,000. FORA Capital LLC owned approximately 0.06% of AST SpaceMobile at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. MetLife Investment Management LLC grew its holdings in shares of AST SpaceMobile by 12.4% during the 3rd quarter. MetLife Investment Management LLC now owns 76,302 shares of the company's stock valued at $1,995,000 after purchasing an additional 8,441 shares during the last quarter. FMR LLC lifted its stake in shares of AST SpaceMobile by 230.5% in the 3rd quarter. FMR LLC now owns 39,638 shares of the company's stock valued at $1,037,000 after acquiring an additional 27,644 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in AST SpaceMobile by 60.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 82,400 shares of the company's stock valued at $2,155,000 after acquiring an additional 31,191 shares during the period. Qsemble Capital Management LP bought a new position in AST SpaceMobile during the 3rd quarter worth approximately $1,354,000. Finally, Algert Global LLC purchased a new position in AST SpaceMobile in the 3rd quarter worth approximately $768,000. 60.95% of the stock is currently owned by institutional investors.

AST SpaceMobile Trading Down 0.4 %

Shares of NASDAQ:ASTS traded down $0.10 on Wednesday, hitting $23.29. The company had a trading volume of 6,944,095 shares, compared to its average volume of 10,634,587. AST SpaceMobile, Inc. has a 1 year low of $1.97 and a 1 year 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 firm's 50-day simple moving average is $25.17 and its two-hundred day simple moving average is $19.61. The firm has a market capitalization of $6.75 billion, a price-to-earnings ratio of -11.04 and a beta of 1.64.

Insider Buying and Selling at AST SpaceMobile

In other news, COO Shanti B. Gupta sold 80,000 shares of the business's stock in a transaction on Monday, September 30th. The shares were sold at an average price of $25.83, for a total transaction of $2,066,400.00. Following the sale, the chief operating officer now owns 393,232 shares in the company, valued at approximately $10,157,182.56. The trade was a 16.91 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Huiwen Yao sold 45,000 shares of the stock in a transaction dated Tuesday, October 8th. The stock was 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. The trade was a 45.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 127,700 shares of company stock valued at $3,220,524. 41.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ASTS shares. Deutsche Bank Aktiengesellschaft raised their target price on shares of AST SpaceMobile from $22.00 to $63.00 and gave the stock a "buy" rating in a report on Wednesday, September 4th. B. Riley upped their price objective on shares of AST SpaceMobile from $26.00 to $36.00 and gave the company a "buy" rating in a research note on Thursday, August 29th. UBS Group raised their target price on AST SpaceMobile from $30.00 to $31.00 and gave the stock a "buy" rating in a research note on Friday, November 15th. Finally, 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.

AST SpaceMobile Company 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.