50,000 Shares in AST SpaceMobile, Inc. (NASDAQ:ASTS) Purchased by Weiss Asset Management LP

Weiss Asset Management LP purchased a new stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) in the 3rd quarter, Holdings Channel.com reports. The firm purchased 50,000 shares of the company’s stock, valued at approximately $1,308,000.

Several other institutional investors have also added to or reduced their stakes in the company. Amalgamated Bank lifted its holdings in shares of AST SpaceMobile by 17.4% in the 3rd quarter. Amalgamated Bank now owns 4,578 shares of the company’s stock valued at $120,000 after acquiring an additional 679 shares during the last quarter. Victory Capital Management Inc. raised its position in AST SpaceMobile by 5.5% during the second quarter. Victory Capital Management Inc. now owns 15,542 shares of the company’s stock valued at $180,000 after purchasing an additional 814 shares during the period. Fairfield Financial Advisors LTD bought a new stake in shares of AST SpaceMobile in the 3rd quarter valued at approximately $26,000. Hollencrest Capital Management purchased a new position in shares of AST SpaceMobile in the 3rd quarter worth approximately $26,000. Finally, Calton & Associates Inc. boosted its holdings in shares of AST SpaceMobile by 14.5% in the 3rd quarter. Calton & Associates Inc. now owns 12,600 shares of the company’s stock worth $329,000 after purchasing an additional 1,600 shares during the period. Hedge funds and other institutional investors own 60.95% of the company’s stock.

AST SpaceMobile Stock Up 12.5 %

NASDAQ:ASTS opened at $25.32 on Monday. The company has a market cap of $7.34 billion, a price-to-earnings ratio of -11.94 and a beta of 1.60. AST SpaceMobile, Inc. has a twelve month low of $1.97 and a twelve month high of $39.08. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31. The stock has a fifty day simple moving average of $24.72 and a 200-day simple moving average of $20.72.

Analyst Ratings Changes

A number of analysts recently issued reports on ASTS shares. B. Riley raised their price target on AST SpaceMobile from $26.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. 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. Scotiabank cut their price target 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. Finally, UBS Group raised their price objective on shares of AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, November 15th.

Insider Buying and Selling

In other news, President Scott Wisniewski sold 2,700 shares of AST SpaceMobile stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $23.12, for a total transaction of $62,424.00. Following the completion of the sale, the president now owns 712,660 shares of the company’s stock, valued at approximately $16,476,699.20. The trade was a 0.38 % decrease in their ownership of the stock. The transaction 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 that occurred on Tuesday, October 8th. The shares were sold at an average price of $24.26, for a total value of $1,091,700.00. Following the completion of the sale, the chief technology officer now owns 55,000 shares of the company’s stock, valued at $1,334,300. The trade was a 45.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 127,700 shares of company stock valued at $3,220,524 in the last 90 days. Company insiders own 41.80% of the company’s stock.

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.