PNC Financial Services Group Inc. Has $4.44 Million Holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS)

PNC Financial Services Group Inc. cut its holdings in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 1.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 169,584 shares of the company’s stock after selling 1,796 shares during the period. PNC Financial Services Group Inc. owned about 0.06% of AST SpaceMobile worth $4,435,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Amalgamated Bank grew its position in AST SpaceMobile by 17.4% during the 3rd quarter. Amalgamated Bank now owns 4,578 shares of the company’s stock worth $120,000 after acquiring an additional 679 shares during the last quarter. Victory Capital Management Inc. raised its stake in AST SpaceMobile by 5.5% during the 2nd quarter. Victory Capital Management Inc. now owns 15,542 shares of the company’s stock worth $180,000 after buying an additional 814 shares during the period. Fairfield Financial Advisors LTD acquired a new stake in AST SpaceMobile during the 3rd quarter worth $26,000. Hollencrest Capital Management acquired a new stake in AST SpaceMobile during the 3rd quarter worth $26,000. Finally, Calton & Associates Inc. raised its stake in shares of AST SpaceMobile by 14.5% in the 3rd quarter. Calton & Associates Inc. now owns 12,600 shares of the company’s stock valued at $329,000 after purchasing an additional 1,600 shares during the period. 60.95% of the stock is currently owned by institutional investors.

AST SpaceMobile Price Performance

NASDAQ:ASTS opened at $24.10 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80. The stock’s 50-day simple moving average is $25.37 and its 200 day simple moving average is $19.31. The company has a market cap of $6.98 billion, a P/E ratio of -11.37 and a beta of 1.64. AST SpaceMobile, Inc. has a 52-week low of $1.97 and a 52-week high of $39.08.

Insider Buying and Selling

In other AST SpaceMobile news, Director Adriana Cisneros purchased 4,934 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was bought at an average cost of $26.32 per share, for a total transaction of $129,862.88. Following the completion of the transaction, the director now owns 774,772 shares in the company, 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 document filed with the SEC, which is available through this link. Also, 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 127,700 shares of company stock worth $3,220,524. Company insiders own 41.80% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on ASTS. 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, November 15th. Deutsche Bank Aktiengesellschaft lifted their price target on AST SpaceMobile from $22.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Scotiabank dropped 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. Finally, B. Riley lifted their target price on AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, August 29th.

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.