AST SpaceMobile, Inc. (NASDAQ:ASTS) Shares Sold by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC decreased its holdings in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 17.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,373 shares of the company’s stock after selling 2,159 shares during the period. Miracle Mile Advisors LLC’s holdings in AST SpaceMobile were worth $219,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fairfield Financial Advisors LTD acquired a new stake in AST SpaceMobile during the 3rd quarter worth approximately $26,000. Hollencrest Capital Management purchased a new position in shares of AST SpaceMobile during the 3rd quarter worth approximately $26,000. Rakuten Securities Inc. acquired a new stake in AST SpaceMobile in the third quarter valued at $68,000. Sunbelt Securities Inc. lifted its stake in shares of AST SpaceMobile by 3,380.0% in the third quarter. Sunbelt Securities Inc. now owns 3,480 shares of the company’s stock valued at $91,000 after purchasing an additional 3,380 shares during the period. Finally, KBC Group NV acquired a new stake in shares of AST SpaceMobile during the 3rd quarter valued at approximately $104,000. Hedge funds and other institutional investors own 60.95% of the company’s stock.

AST SpaceMobile Stock Down 2.4 %

Shares of NASDAQ:ASTS opened at $21.02 on Friday. 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 1 year low of $1.97 and a 1 year high of $39.08. The stock has a 50-day simple moving average of $23.48 and a 200-day simple moving average of $23.34. The stock has a market capitalization of $6.09 billion, a P/E ratio of -9.91 and a beta of 1.64.

Analysts Set New Price Targets

ASTS has been the subject of several research reports. UBS Group lifted their price target on AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Scotiabank reduced their target price 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.

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.