State of New Jersey Common Pension Fund D Takes Position in AST SpaceMobile, Inc. (NASDAQ:ASTS)

State of New Jersey Common Pension Fund D purchased a new position in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 58,720 shares of the company's stock, valued at approximately $1,536,000.

A number of other institutional investors also recently bought and sold shares of ASTS. Fairfield Financial Advisors LTD purchased a new position in shares of AST SpaceMobile during the 3rd quarter valued at about $26,000. Hollencrest Capital Management acquired a new position in AST SpaceMobile in the third quarter valued at approximately $26,000. Future Financial Wealth Managment LLC purchased a new stake in AST SpaceMobile in the 3rd quarter worth approximately $105,000. Amalgamated Bank increased its holdings in shares of AST SpaceMobile by 17.4% during the 3rd 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. Finally, Capital Investment Advisors LLC acquired a new position in shares of AST SpaceMobile in the 3rd quarter valued at $216,000. 60.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Adriana Cisneros acquired 4,934 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average cost of $26.32 per share, for a total transaction of $129,862.88. Following the transaction, the director now directly owns 774,772 shares in the company, valued at approximately $20,391,999.04. This represents a 0.64 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Scott Wisniewski sold 2,700 shares of the stock in a transaction on Monday, September 30th. The stock was 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 owns 712,660 shares of the company's stock, valued at $16,476,699.20. The trade was a 0.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 127,700 shares of company stock worth $3,220,524 in the last ninety days. 41.80% of the stock is owned by corporate insiders.

AST SpaceMobile Stock Down 0.3 %

Shares of NASDAQ:ASTS traded down $0.07 during trading on Tuesday, hitting $25.73. The company's stock had a trading volume of 4,964,035 shares, compared to its average volume of 10,672,495. The company has a market capitalization of $6.93 billion, a PE ratio of -11.88 and a beta of 1.64. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80. AST SpaceMobile, Inc. has a fifty-two week low of $1.97 and a fifty-two week high of $39.08. The business has a 50 day moving average price of $25.62 and a two-hundred day moving average price of $18.69.

Wall Street Analysts Forecast Growth

ASTS has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft lifted 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. UBS Group lifted their price target on AST SpaceMobile from $30.00 to $31.00 and gave the company a "buy" rating in a research note on Friday. B. Riley increased their price target on AST SpaceMobile from $26.00 to $36.00 and gave the stock a "buy" rating in a research report on Thursday, August 29th. Finally, Scotiabank dropped their price objective on AST SpaceMobile from $45.90 to $44.70 and set a "sector outperform" rating on the stock in a report on Friday.

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.