Fmr LLC Buys 27,644 Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS)

Fmr LLC increased its position in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 230.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,638 shares of the company’s stock after buying an additional 27,644 shares during the period. Fmr LLC’s holdings in AST SpaceMobile were worth $1,037,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ASTS. Privium Fund Management B.V. bought a new position in AST SpaceMobile in the third quarter worth approximately $21,476,000. Oppenheimer & Co. Inc. bought a new position in shares of AST SpaceMobile in the 2nd quarter worth $9,270,000. Charles Schwab Investment Management Inc. grew its position in AST SpaceMobile by 228.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,131,705 shares of the company’s stock valued at $29,594,000 after purchasing an additional 787,566 shares during the period. Renaissance Technologies LLC bought a new stake in AST SpaceMobile during the 2nd quarter valued at $4,757,000. Finally, Seven Eight Capital LP acquired a new position in AST SpaceMobile during the second quarter worth $3,387,000. 60.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

AST SpaceMobile Stock Up 3.5 %

Shares of NASDAQ:ASTS opened at $24.30 on Tuesday. 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 PE ratio of -11.46 and a beta of 1.60. The business has a fifty day moving average price of $24.65 and a two-hundred day moving average price of $21.48. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80.

Insider Buying and Selling

In other AST SpaceMobile news, COO Shanti B. Gupta sold 80,000 shares of AST SpaceMobile stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $25.83, for a total value of $2,066,400.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Huiwen Yao sold 45,000 shares of the business’s stock in a transaction dated 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 transaction, the chief technology officer now owns 55,000 shares in the company, 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. In the last ninety days, insiders have sold 127,700 shares of company stock valued at $3,220,524. 41.80% of the stock is owned by 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.