161,182 Shares in AST SpaceMobile, Inc. (NASDAQ:ASTS) Acquired by FORA Capital LLC

FORA Capital LLC acquired a new stake in AST SpaceMobile, Inc. (NASDAQ:ASTS) during the third quarter, HoldingsChannel.com reports. The fund acquired 161,182 shares of the company’s stock, valued at approximately $4,215,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in AST SpaceMobile by 49.9% during the first quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company’s stock worth $19,325,000 after purchasing an additional 2,217,531 shares during the last quarter. American International Group Inc. boosted its holdings in shares of AST SpaceMobile by 41.5% in the 1st quarter. American International Group Inc. now owns 56,527 shares of the company’s stock valued at $164,000 after buying an additional 16,568 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position 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 valued at $161,000 after buying an additional 22,987 shares during the last quarter. Janus Henderson Group PLC raised its stake in AST SpaceMobile by 209.9% during the 1st quarter. Janus Henderson Group PLC now owns 7,450,467 shares of the company’s stock worth $21,606,000 after acquiring an additional 5,046,667 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in AST SpaceMobile in the second quarter valued at $334,000. 60.95% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other AST SpaceMobile news, President Scott Wisniewski sold 2,700 shares of AST SpaceMobile 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 sale, the president now owns 712,660 shares of the company’s stock, valued at approximately $16,476,699.20. The trade was a 0.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Shanti B. Gupta sold 80,000 shares of the stock in a transaction that occurred on 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 directly owns 393,232 shares of the company’s stock, valued at approximately $10,157,182.56. This trade represents a 16.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 127,700 shares of company stock valued at $3,220,524. 41.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ASTS shares. 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 research report on Wednesday, September 4th. 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 research note on Friday, November 15th. UBS Group increased their price objective on AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, B. Riley lifted their target price on shares of AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, August 29th.

AST SpaceMobile Stock Performance

Shares of NASDAQ ASTS traded up $1.01 during midday trading on Wednesday, reaching $24.40. 2,241,232 shares of the company were exchanged, compared to its average volume of 10,608,665. The stock has a market cap of $7.07 billion, a P/E ratio of -11.03 and a beta of 1.64. AST SpaceMobile, Inc. has a 1 year low of $1.97 and a 1 year high of $39.08. The stock has a fifty day simple moving average of $25.26 and a 200 day simple moving average of $19.46. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31.

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.