Janus Henderson Group PLC Trims Position in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Janus Henderson Group PLC trimmed its position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 51.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 3,629,085 shares of the company’s stock after selling 3,825,815 shares during the period. Janus Henderson Group PLC’s holdings in AST SpaceMobile were worth $94,901,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fairfield Financial Advisors LTD acquired a new stake in shares of AST SpaceMobile during the 3rd quarter worth $26,000. Hollencrest Capital Management acquired a new stake in shares of AST SpaceMobile during the 3rd quarter worth $26,000. Rakuten Securities Inc. acquired a new stake in shares of AST SpaceMobile during the 3rd quarter worth $68,000. KBC Group NV acquired a new stake in shares of AST SpaceMobile during the 3rd quarter worth $104,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of AST SpaceMobile during the 3rd quarter worth $105,000. 60.95% of the stock is currently owned by institutional investors and hedge funds.

AST SpaceMobile Stock Down 1.2 %

Shares of AST SpaceMobile stock opened at $22.64 on Thursday. The business has a 50-day moving average of $24.78 and a 200-day moving average of $20.32. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80. The company has a market capitalization of $6.56 billion, a PE ratio of -10.68 and a beta of 1.60. AST SpaceMobile, Inc. has a 1-year low of $1.97 and a 1-year high of $39.08.

Insider Activity

In other AST SpaceMobile news, Director Adriana Cisneros bought 4,934 shares of the stock in a transaction dated Friday, September 6th. The stock was bought at an average cost of $26.32 per share, for a total transaction of $129,862.88. Following the completion of the purchase, the director now directly owns 774,772 shares of the company’s stock, valued at approximately $20,391,999.04. The trade was a 0.64 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President Scott Wisniewski sold 2,700 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were 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 $16,476,699.20. This represents a 0.38 % 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 ninety days. Corporate insiders own 41.80% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft increased their price target on 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 company a “buy” rating in a report on Thursday, August 29th. UBS Group increased their price target on AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, Scotiabank lowered their price target on AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating for the company in a 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.