New Millennium Group LLC Invests $110,000 in AST SpaceMobile, Inc. (NASDAQ:ASTS)

New Millennium Group LLC purchased a new position in AST SpaceMobile, Inc. (NASDAQ:ASTS) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,200 shares of the company’s stock, valued at approximately $110,000.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in AST SpaceMobile by 49.9% in the 1st quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company’s stock worth $19,325,000 after acquiring an additional 2,217,531 shares in the last quarter. American International Group Inc. increased its holdings in AST SpaceMobile by 41.5% during the 1st quarter. American International Group Inc. now owns 56,527 shares of the company’s stock worth $164,000 after purchasing an additional 16,568 shares during the period. Natixis raised its position in AST SpaceMobile by 62.2% during the 1st quarter. Natixis now owns 55,863 shares of the company’s stock valued at $162,000 after purchasing an additional 21,430 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of AST SpaceMobile by 71.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 55,335 shares of the company’s stock worth $161,000 after buying an additional 22,987 shares in the last quarter. Finally, Masters Capital Management LLC purchased a new position in shares of AST SpaceMobile during the first quarter valued at $2,900,000. Hedge funds and other institutional investors own 60.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ASTS. Deutsche Bank Aktiengesellschaft upped their price objective on shares of AST SpaceMobile from $22.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. B. Riley upped their price target on shares of AST SpaceMobile from $26.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Scotiabank cut their price objective 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. Finally, UBS Group increased their target price on AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Friday.

Insider Buying and Selling

In related news, President Scott Wisniewski sold 2,700 shares of the business’s stock in a transaction on 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 in the company, valued at $16,476,699.20. The trade was a 0.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Adriana Cisneros bought 4,934 shares of AST SpaceMobile stock in a transaction that occurred on Friday, September 6th. The shares were acquired 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 directly owns 774,772 shares in the company, valued at $20,391,999.04. This represents a 0.64 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 127,700 shares of company stock worth $3,220,524 in the last 90 days. 41.80% of the stock is owned by corporate insiders.

AST SpaceMobile Stock Down 3.5 %

ASTS stock opened at $24.90 on Tuesday. AST SpaceMobile, Inc. has a one year low of $1.97 and a one year high of $39.08. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80. The firm has a 50-day simple moving average of $25.62 and a two-hundred day simple moving average of $18.69.

About AST SpaceMobile

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.