3,973 Shares in AST SpaceMobile, Inc. (NASDAQ:ASTS) Bought by KBC Group NV

KBC Group NV purchased a new stake in AST SpaceMobile, Inc. (NASDAQ:ASTS) in the third quarter, HoldingsChannel reports. The institutional investor purchased 3,973 shares of the company’s stock, valued at approximately $104,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of ASTS. Vanguard Group Inc. lifted its position in shares of AST SpaceMobile by 49.9% in 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. American International Group Inc. boosted its position in AST SpaceMobile by 41.5% during the first 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 increased its holdings in shares of AST SpaceMobile by 62.2% in the first quarter. Natixis now owns 55,863 shares of the company’s stock valued at $162,000 after purchasing an additional 21,430 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of AST SpaceMobile by 71.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 55,335 shares of the company’s stock valued at $161,000 after purchasing an additional 22,987 shares during the period. Finally, Masters Capital Management LLC acquired a new stake in shares of AST SpaceMobile during the 1st quarter worth about $2,900,000. Institutional investors own 60.95% of the company’s stock.

Insider Activity

In other AST SpaceMobile news, CTO Huiwen Yao sold 45,000 shares of the 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 sale, the chief technology officer now directly owns 55,000 shares in the company, valued at $1,334,300. This represents a 45.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Shanti B. Gupta sold 80,000 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were 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 directly owns 393,232 shares in the company, valued at approximately $10,157,182.56. This represents a 16.91 % 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 worth $3,220,524. Corporate insiders own 41.80% of the company’s stock.

AST SpaceMobile Price Performance

Shares of AST SpaceMobile stock opened at $24.14 on Friday. The company has a 50-day simple moving average of $25.49 and a two-hundred day simple moving average of $18.92. AST SpaceMobile, Inc. has a twelve month low of $1.97 and a twelve month high of $39.08. The stock has a market capitalization of $6.50 billion, a price-to-earnings ratio of -11.38 and a beta of 1.64. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ASTS. Deutsche Bank Aktiengesellschaft upped their price target 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. B. Riley upped their target price on AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. UBS Group lifted their price target on AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Scotiabank decreased their price objective on AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating on the stock in a report on Friday, November 15th.

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.