Fmr LLC Boosts Stock Holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Fmr LLC grew its holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 230.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 39,638 shares of the company’s stock after buying an additional 27,644 shares during the quarter. Fmr LLC’s holdings in AST SpaceMobile were worth $1,037,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of ASTS. The Manufacturers Life Insurance Company raised its holdings in AST SpaceMobile by 60.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 82,400 shares of the company’s stock valued at $2,155,000 after acquiring an additional 31,191 shares during the period. Qsemble Capital Management LP bought a new position in shares of AST SpaceMobile in the third quarter worth $1,354,000. Algert Global LLC purchased a new position in shares of AST SpaceMobile in the third quarter valued at $768,000. Kingsview Wealth Management LLC bought a new stake in shares of AST SpaceMobile during the 3rd quarter valued at $586,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in AST SpaceMobile by 228.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,131,705 shares of the company’s stock worth $29,594,000 after purchasing an additional 787,566 shares in the last quarter. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ASTS shares. UBS Group upped their price target on AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Scotiabank decreased their target price on shares of AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating on the stock in a report on Friday, November 15th. B. Riley raised their price target on shares of AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of AST SpaceMobile from $22.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th.

AST SpaceMobile Trading Up 3.5 %

Shares of ASTS opened at $24.30 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80. AST SpaceMobile, Inc. has a 1-year low of $1.97 and a 1-year high of $39.08. The company has a market capitalization of $7.04 billion, a P/E ratio of -11.46 and a beta of 1.60. The firm’s 50 day simple moving average is $24.65 and its 200 day simple moving average is $21.48.

Insider Transactions at AST SpaceMobile

In related news, President Scott Wisniewski sold 2,700 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $23.12, for a total transaction of $62,424.00. Following the transaction, the president now directly owns 712,660 shares of the company’s stock, valued at approximately $16,476,699.20. This trade represents a 0.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Shanti B. Gupta sold 80,000 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $25.83, for a total value 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 $10,157,182.56. The trade was a 16.91 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 127,700 shares of company stock valued at $3,220,524. Insiders own 41.80% of the company’s stock.

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.