HighTower Advisors LLC Buys 5,392 Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS)

HighTower Advisors LLC increased its stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 30.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 23,343 shares of the company’s stock after buying an additional 5,392 shares during the period. HighTower Advisors LLC’s holdings in AST SpaceMobile were worth $610,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Verition Fund Management LLC bought a new stake in shares of AST SpaceMobile during the third quarter worth approximately $1,107,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in AST SpaceMobile during the 3rd quarter worth approximately $4,819,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in AST SpaceMobile in the 3rd quarter valued at $626,000. FORA Capital LLC acquired a new position in AST SpaceMobile in the 3rd quarter valued at $4,215,000. Finally, MetLife Investment Management LLC increased its position in AST SpaceMobile by 12.4% during the 3rd quarter. MetLife Investment Management LLC now owns 76,302 shares of the company’s stock worth $1,995,000 after buying an additional 8,441 shares during the period. Institutional investors and hedge funds own 60.95% of the company’s stock.

Analyst Ratings Changes

ASTS has been the subject of a number of recent research reports. UBS Group boosted their target price on shares of AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Scotiabank cut their price objective 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 target price on shares of AST SpaceMobile from $22.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Finally, B. Riley boosted their price target on AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, August 29th.

AST SpaceMobile Stock Down 1.5 %

ASTS stock opened at $23.00 on Friday. The company has a market cap of $6.66 billion, a PE ratio of -10.85 and a beta of 1.60. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31. AST SpaceMobile, Inc. has a 52 week low of $1.97 and a 52 week high of $39.08. The business has a 50-day simple moving average of $24.68 and a 200 day simple moving average of $21.62.

Insider Activity

In other news, COO Shanti B. Gupta sold 80,000 shares of the business’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $25.83, for a total transaction of $2,066,400.00. Following the completion of the transaction, the chief operating officer now owns 393,232 shares of the company’s stock, valued at approximately $10,157,182.56. The trade was a 16.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Scott Wisniewski sold 2,700 shares of the firm’s stock in a transaction dated 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 sale, the president now directly owns 712,660 shares in the company, valued at $16,476,699.20. This trade represents a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 127,700 shares of company stock worth $3,220,524. 41.80% of the stock is currently owned by corporate insiders.

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.