Algert Global LLC Makes New Investment in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Algert Global LLC bought a new position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 29,370 shares of the company’s stock, valued at approximately $768,000.

Several other institutional investors have also recently made changes to their positions in ASTS. Kingsview Wealth Management LLC bought a new stake in shares of AST SpaceMobile during the third quarter valued at approximately $586,000. Charles Schwab Investment Management Inc. lifted its position in AST SpaceMobile by 228.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,131,705 shares of the company’s stock valued at $29,594,000 after buying an additional 787,566 shares during the period. Intech Investment Management LLC bought a new stake in shares of AST SpaceMobile during the 3rd quarter valued at $957,000. New Millennium Group LLC purchased a new stake in shares of AST SpaceMobile in the 3rd quarter worth about $110,000. Finally, SouthState Corp bought a new position in shares of AST SpaceMobile in the 3rd quarter worth about $799,000. Institutional investors own 60.95% of the company’s stock.

AST SpaceMobile Stock Up 2.2 %

Shares of NASDAQ ASTS opened at $23.81 on Friday. The stock has a market capitalization of $6.90 billion, a price-to-earnings ratio of -11.23 and a beta of 1.64. AST SpaceMobile, Inc. has a 12-month low of $1.97 and a 12-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 firm’s 50-day moving average price is $24.96 and its 200-day moving average price is $19.66.

Insider Buying and Selling at AST SpaceMobile

In other AST SpaceMobile news, CTO Huiwen Yao sold 45,000 shares of the business’s stock in a transaction on 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 transaction, the chief technology officer now owns 55,000 shares in the company, valued at $1,334,300. The trade was a 45.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Scott Wisniewski sold 2,700 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was 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 $16,476,699.20. This trade represents a 0.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 127,700 shares of company stock worth $3,220,524 over the last ninety days. Company insiders own 41.80% of the company’s stock.

Analysts Set New Price Targets

ASTS has been the subject of several recent analyst reports. B. Riley lifted their target price on shares of AST SpaceMobile from $26.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. UBS Group upped their price objective on AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Deutsche Bank Aktiengesellschaft lifted their target price on AST SpaceMobile from $22.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Finally, Scotiabank dropped their price objective on AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating on the stock in a research report on Friday, November 15th.

AST SpaceMobile 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.