29,370 Shares in AST SpaceMobile, Inc. (NASDAQ:ASTS) Acquired by Algert Global LLC

Algert Global LLC acquired a new stake in AST SpaceMobile, Inc. (NASDAQ:ASTS) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 29,370 shares of the company’s stock, valued at approximately $768,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of AST SpaceMobile by 49.9% in the first quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company’s stock worth $19,325,000 after purchasing an additional 2,217,531 shares during the last quarter. Privium Fund Management B.V. bought a new position in AST SpaceMobile in the 3rd quarter worth about $21,476,000. Oppenheimer & Co. Inc. purchased a new position in shares of AST SpaceMobile during the second quarter worth approximately $9,270,000. Charles Schwab Investment Management Inc. raised its stake in shares of AST SpaceMobile by 228.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,131,705 shares of the company’s stock valued at $29,594,000 after acquiring an additional 787,566 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of AST SpaceMobile during the second quarter valued at approximately $4,757,000. Hedge funds and other institutional investors own 60.95% of the company’s stock.

AST SpaceMobile Trading Up 2.2 %

Shares of NASDAQ:ASTS opened at $23.81 on Friday. 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 capitalization of $6.90 billion, a PE ratio of -11.23 and a beta of 1.64. AST SpaceMobile, Inc. has a 12-month low of $1.97 and a 12-month high of $39.08. The business’s fifty day simple moving average is $24.96 and its 200-day simple moving average is $19.66.

Insider Buying and Selling at AST SpaceMobile

In other news, Director Adriana Cisneros purchased 4,934 shares of the stock in a transaction dated Friday, September 6th. The shares were acquired at an average cost of $26.32 per share, for a total transaction of $129,862.88. Following the acquisition, the director now owns 774,772 shares of the company’s stock, valued at approximately $20,391,999.04. This represents a 0.64 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Shanti B. Gupta sold 80,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief operating officer now owns 393,232 shares of the company’s stock, valued at approximately $10,157,182.56. This trade represents a 16.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 127,700 shares of company stock worth $3,220,524 over the last quarter. Insiders own 41.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on ASTS. UBS Group raised their price objective on AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Scotiabank cut their price target on 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. Deutsche Bank Aktiengesellschaft upped their price objective on shares of AST SpaceMobile from $22.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Finally, B. Riley raised their target price on shares of AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a research report 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.