Zacks Investment Management Sells 26,710 Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS)

Zacks Investment Management lowered its stake in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 11.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 213,639 shares of the company's stock after selling 26,710 shares during the period. Zacks Investment Management owned 0.08% of AST SpaceMobile worth $5,587,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of ASTS. Vanguard Group Inc. grew its position in shares of AST SpaceMobile by 49.9% during the 1st quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company's stock worth $19,325,000 after buying an additional 2,217,531 shares during the period. B. Riley Wealth Advisors Inc. bought a new stake in shares of AST SpaceMobile during the 2nd quarter valued at $278,000. Van ECK Associates Corp lifted its stake in shares of AST SpaceMobile by 141.1% in the 3rd quarter. Van ECK Associates Corp now owns 103,437 shares of the company's stock valued at $2,716,000 after purchasing an additional 60,530 shares during the period. Algert Global LLC acquired a new position in shares of AST SpaceMobile in the 3rd quarter valued at $768,000. Finally, Americana Partners LLC bought a new position in shares of AST SpaceMobile in the 3rd quarter worth $673,000. Institutional investors own 60.95% of the company's stock.

Insider Transactions at AST SpaceMobile

In other news, CTO Huiwen Yao sold 45,000 shares of the 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 in the company, valued at $1,334,300. This represents a 45.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 sale, the president now directly owns 712,660 shares in the company, valued at approximately $16,476,699.20. This represents a 0.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 127,700 shares of company stock valued at $3,220,524 over the last quarter. Corporate insiders own 41.80% of the company's stock.

AST SpaceMobile Stock Up 12.5 %

Shares of NASDAQ:ASTS traded up $2.81 during trading on Friday, hitting $25.32. 13,115,303 shares of the company's stock traded hands, compared to its average volume of 10,400,766. The company has a 50-day moving average price of $24.72 and a 200-day moving average price of $20.60. AST SpaceMobile, Inc. has a 52 week low of $1.97 and a 52 week high of $39.08. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31. The company has a market cap of $7.34 billion, a price-to-earnings ratio of -11.94 and a beta of 1.60.

Analysts Set New Price Targets

ASTS has been the subject of a number of recent analyst reports. B. Riley upped their price objective on AST SpaceMobile from $26.00 to $36.00 and gave the company a "buy" rating in a report on Thursday, August 29th. UBS Group increased their price target on shares of AST SpaceMobile from $30.00 to $31.00 and gave the company a "buy" rating in a research report on Friday, November 15th. Scotiabank reduced their price objective on shares of AST SpaceMobile from $45.90 to $44.70 and set a "sector outperform" rating on the stock in a research note on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of AST SpaceMobile from $22.00 to $63.00 and gave the company a "buy" rating in a research note on Wednesday, September 4th.

AST SpaceMobile 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.