Zacks Investment Management Sells 26,710 Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS)

Zacks Investment Management trimmed its position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 11.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 213,639 shares of the company’s stock after selling 26,710 shares during the quarter. Zacks Investment Management owned about 0.08% of AST SpaceMobile worth $5,587,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ASTS. Vanguard Group Inc. grew its holdings in shares of AST SpaceMobile by 49.9% during the first quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company’s stock valued at $19,325,000 after buying an additional 2,217,531 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of AST SpaceMobile by 71.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 55,335 shares of the company’s stock worth $161,000 after purchasing an additional 22,987 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of AST SpaceMobile in the 2nd quarter worth $334,000. Accordant Advisory Group Inc raised its stake in shares of AST SpaceMobile by 2.0% in the second quarter. Accordant Advisory Group Inc now owns 162,823 shares of the company’s stock worth $1,890,000 after purchasing an additional 3,146 shares during the last quarter. Finally, Calton & Associates Inc. bought a new position in shares of AST SpaceMobile during the second quarter valued at $128,000. 60.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling at AST SpaceMobile

In other news, COO Shanti B. Gupta sold 80,000 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $25.83, for a total value of $2,066,400.00. Following the transaction, the chief operating officer now owns 393,232 shares of the company’s stock, valued at $10,157,182.56. This trade represents a 16.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Scott Wisniewski sold 2,700 shares of the business’s stock in a transaction that occurred 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 transaction, the president now owns 712,660 shares of the company’s stock, valued at approximately $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. Over the last ninety days, insiders sold 127,700 shares of company stock valued at $3,220,524. Insiders own 41.80% of the company’s stock.

Analysts Set New Price Targets

ASTS has been the subject of several research analyst reports. Scotiabank reduced their price objective on AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating for the company in a report on Friday, November 15th. UBS Group lifted their price target 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. 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 report on Wednesday, September 4th. Finally, B. Riley boosted their target price on shares of 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 Price Performance

Shares of NASDAQ:ASTS opened at $25.32 on Friday. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $7.34 billion, a PE ratio of -11.94 and a beta of 1.60. The firm’s 50 day moving average price is $24.72 and its 200-day moving average price is $20.60. AST SpaceMobile, Inc. has a twelve month low of $1.97 and a twelve month high of $39.08.

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.