Qsemble Capital Management LP Makes New $1.35 Million Investment in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Qsemble Capital Management LP purchased 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 (SEC). The institutional investor purchased 51,767 shares of the company's stock, valued at approximately $1,354,000.

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

Insider Activity

In related news, CTO Huiwen Yao sold 45,000 shares of AST SpaceMobile stock in a transaction dated 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 directly owns 55,000 shares of the company's stock, valued at approximately $1,334,300. The trade was a 45.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Adriana Cisneros acquired 4,934 shares of AST SpaceMobile stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average cost of $26.32 per share, for a total transaction of $129,862.88. Following the completion of the transaction, the director now directly owns 774,772 shares in the company, valued at $20,391,999.04. This trade represents a 0.64 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have sold 127,700 shares of company stock worth $3,220,524. 41.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ASTS shares. Deutsche Bank Aktiengesellschaft increased their price objective on shares of AST SpaceMobile from $22.00 to $63.00 and gave the company a "buy" rating in a report on Wednesday, September 4th. Scotiabank cut their target price on shares of 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 price target on shares of AST SpaceMobile from $30.00 to $31.00 and gave the stock a "buy" rating in a research note on Friday, November 15th. Finally, B. Riley raised their price objective on 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 Price Performance

AST SpaceMobile stock traded down $0.82 during mid-day trading on Tuesday, reaching $23.39. 8,279,884 shares of the company's stock traded hands, compared to its average volume of 10,650,470. AST SpaceMobile, Inc. has a 12-month low of $1.97 and a 12-month 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 stock has a 50 day moving average of $25.26 and a two-hundred day moving average of $19.46. The company has a market cap of $6.78 billion, a price-to-earnings ratio of -11.03 and a beta of 1.64.

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.