AST SpaceMobile, Inc. (NASDAQ:ASTS) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company increased its stake in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 60.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,400 shares of the company’s stock after acquiring an additional 31,191 shares during the period. The Manufacturers Life Insurance Company’s holdings in AST SpaceMobile were worth $2,155,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Fairfield Financial Advisors LTD bought a new position in AST SpaceMobile during the third quarter valued at about $26,000. Hollencrest Capital Management acquired a new stake in AST SpaceMobile in the 3rd quarter valued at about $26,000. Rakuten Securities Inc. bought a new position in shares of AST SpaceMobile during the 3rd quarter valued at about $68,000. KBC Group NV acquired a new position in shares of AST SpaceMobile in the 3rd quarter worth approximately $104,000. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of AST SpaceMobile in the 3rd quarter worth approximately $105,000. Institutional investors and hedge funds own 60.95% of the company’s stock.

Wall Street Analyst Weigh In

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

AST SpaceMobile Stock Performance

Shares of NASDAQ ASTS opened at $25.32 on Monday. AST SpaceMobile, Inc. has a 12 month low of $1.97 and a 12 month high of $39.08. The company has a market cap of $7.34 billion, a P/E ratio of -11.94 and a beta of 1.60. The business’s 50 day moving average is $24.72 and its two-hundred day moving average is $20.72. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31.

Insider Transactions at AST SpaceMobile

In other news, CTO Huiwen Yao sold 45,000 shares of AST SpaceMobile stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $24.26, for a total transaction of $1,091,700.00. Following the sale, the chief technology officer now owns 55,000 shares of the company’s stock, valued at approximately $1,334,300. This trade represents a 45.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Scott Wisniewski sold 2,700 shares of the company’s stock in a transaction on 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 transaction, the president now owns 712,660 shares of the company’s stock, valued at $16,476,699.20. The trade was a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 127,700 shares of company stock worth $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.