Victory Capital Management Inc. Raises Holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Victory Capital Management Inc. increased its position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 97.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,680 shares of the company’s stock after purchasing an additional 15,138 shares during the quarter. Victory Capital Management Inc.’s holdings in AST SpaceMobile were worth $802,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. First Heartland Consultants Inc. purchased a new stake in shares of AST SpaceMobile during the third quarter worth approximately $266,000. Rakuten Securities Inc. purchased a new stake in shares of AST SpaceMobile during the third quarter worth approximately $68,000. State of New Jersey Common Pension Fund D acquired a new position in AST SpaceMobile during the third quarter worth $1,536,000. Colonial River Investments LLC acquired a new position in AST SpaceMobile during the third quarter worth $237,000. Finally, Axxcess Wealth Management LLC acquired a new position in AST SpaceMobile during the third quarter worth $237,000. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

AST SpaceMobile Stock Performance

Shares of AST SpaceMobile stock opened at $23.29 on Thursday. AST SpaceMobile, Inc. has a 52 week low of $1.97 and a 52 week high of $39.08. The business’s fifty day simple moving average is $25.17 and its 200-day simple moving average is $19.61. The firm has a market cap of $6.75 billion, a PE ratio of -11.04 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.

Analyst Ratings Changes

ASTS has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft boosted their price objective on 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 boosted their price objective on AST SpaceMobile from $26.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. UBS Group boosted their price objective on AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, Scotiabank lowered their price objective on AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating on the stock in a research note on Friday, November 15th.

Insider Activity

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 value of $62,424.00. Following the sale, the president now owns 712,660 shares in the company, valued at approximately $16,476,699.20. The trade was a 0.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Adriana Cisneros acquired 4,934 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average price of $26.32 per share, for a total transaction of $129,862.88. Following the acquisition, the director now directly owns 774,772 shares in the company, valued at approximately $20,391,999.04. This trade represents a 0.64 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 127,700 shares of company stock valued at $3,220,524 in the last quarter. 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.