HighTower Advisors LLC Has $610,000 Holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS)

HighTower Advisors LLC grew its position in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 30.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 23,343 shares of the company’s stock after acquiring an additional 5,392 shares during the period. HighTower Advisors LLC’s holdings in AST SpaceMobile were worth $610,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of ASTS. Privium Fund Management B.V. bought a new position in AST SpaceMobile in the third quarter valued at about $21,476,000. Oppenheimer & Co. Inc. bought a new position in shares of AST SpaceMobile during the second quarter valued at $9,270,000. Charles Schwab Investment Management Inc. raised its position in AST SpaceMobile by 228.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,131,705 shares of the company’s stock worth $29,594,000 after purchasing an additional 787,566 shares during the last quarter. Renaissance Technologies LLC acquired a new position in AST SpaceMobile during the 2nd quarter worth about $4,757,000. Finally, Seven Eight Capital LP bought a new stake in shares of AST SpaceMobile in the 2nd quarter valued at about $3,387,000. Institutional investors and hedge funds own 60.95% of the company’s stock.

AST SpaceMobile Trading Down 1.5 %

ASTS opened at $23.00 on Friday. The company has a fifty day moving average price of $24.68 and a two-hundred day moving average price of $21.62. AST SpaceMobile, Inc. has a 1-year low of $1.97 and a 1-year high of $39.08. The company has a market cap of $6.66 billion, a P/E ratio of -10.85 and a beta of 1.60. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31.

Insider Activity

In other AST SpaceMobile news, President Scott Wisniewski sold 2,700 shares of the stock in a transaction that occurred 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 transaction, the president now owns 712,660 shares in the company, valued at approximately $16,476,699.20. This represents a 0.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Shanti B. Gupta sold 80,000 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $25.83, for a total value of $2,066,400.00. Following the sale, the chief operating officer now owns 393,232 shares of the company’s stock, valued at approximately $10,157,182.56. This represents a 16.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 127,700 shares of company stock worth $3,220,524 in the last three months. Company insiders own 41.80% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. UBS Group raised their price objective on AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of AST SpaceMobile from $22.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. B. Riley increased their price target on AST SpaceMobile from $26.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Finally, Scotiabank decreased their target price on AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating for the company in a research note 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.