AST SpaceMobile, Inc. (NASDAQ:ASTS) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. increased its position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 97.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ASTS. First Heartland Consultants Inc. purchased a new position in AST SpaceMobile during the third quarter valued at approximately $266,000. Rakuten Securities Inc. purchased a new position in AST SpaceMobile during the third quarter valued at approximately $68,000. State of New Jersey Common Pension Fund D purchased a new position in AST SpaceMobile during the third quarter valued at approximately $1,536,000. Colonial River Investments LLC purchased a new position in AST SpaceMobile during the third quarter valued at approximately $237,000. Finally, Axxcess Wealth Management LLC purchased a new position in AST SpaceMobile during the third quarter valued at approximately $237,000. Institutional investors and hedge funds own 60.95% of the company’s stock.

AST SpaceMobile Stock Down 0.4 %

AST SpaceMobile stock opened at $23.29 on Thursday. The stock has a market capitalization of $6.75 billion, a PE ratio of -11.04 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 business has a 50 day simple moving average of $25.17 and a 200-day simple moving average of $19.61. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80.

Insider Activity

In other news, COO Shanti B. Gupta sold 80,000 shares of the business’s 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 completion of the sale, the chief operating officer now directly owns 393,232 shares in the company, valued at $10,157,182.56. The trade was a 16.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Huiwen Yao sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $24.26, for a total value of $1,091,700.00. Following the completion of the sale, the chief technology officer now owns 55,000 shares of the company’s stock, valued at $1,334,300. This trade represents a 45.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 127,700 shares of company stock worth $3,220,524 over the last three months. 41.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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