Tidal Investments LLC Lowers Stock Position in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Tidal Investments LLC decreased its holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 57.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 369,905 shares of the company's stock after selling 497,174 shares during the quarter. Tidal Investments LLC owned 0.13% of AST SpaceMobile worth $9,673,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Fairfield Financial Advisors LTD purchased a new stake in shares of AST SpaceMobile in the third quarter valued at approximately $26,000. Hollencrest Capital Management acquired a new stake in AST SpaceMobile in the 3rd quarter valued at $26,000. Rakuten Securities Inc. purchased a new stake in AST SpaceMobile in the 3rd quarter worth $68,000. Sunbelt Securities Inc. raised its position in AST SpaceMobile by 3,380.0% during the third quarter. Sunbelt Securities Inc. now owns 3,480 shares of the company's stock worth $91,000 after acquiring an additional 3,380 shares during the period. Finally, KBC Group NV purchased a new position in AST SpaceMobile during the third quarter valued at $104,000. Institutional investors and hedge funds own 60.95% of the company's stock.

Insiders Place Their Bets

In other news, CTO Huiwen Yao sold 45,000 shares of AST SpaceMobile 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 sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Scott Wisniewski sold 2,700 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the president now 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 90 days, insiders have sold 127,700 shares of company stock valued at $3,220,524. Insiders own 41.80% of the company's stock.

AST SpaceMobile Price Performance

Shares of AST SpaceMobile stock traded down $0.17 on Friday, hitting $23.16. 3,621,675 shares of the company were exchanged, compared to its average volume of 10,482,688. 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 stock has a market capitalization of $6.71 billion, a price-to-earnings ratio of -10.97 and a beta of 1.60. The company has a 50-day moving average price of $24.72 and a 200 day moving average price of $21.04.

Wall Street Analysts Forecast Growth

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

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.