Verition Fund Management LLC Acquires Shares of 42,345 AST SpaceMobile, Inc. (NASDAQ:ASTS)

Verition Fund Management LLC bought a new position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 42,345 shares of the company’s stock, valued at approximately $1,107,000.

Several other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of AST SpaceMobile by 49.9% during the first quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company’s stock valued at $19,325,000 after acquiring an additional 2,217,531 shares during the period. Price T Rowe Associates Inc. MD boosted its position in AST SpaceMobile by 71.1% in the first 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 in the last quarter. SG Americas Securities LLC bought a new stake in AST SpaceMobile during the second quarter worth about $334,000. Accordant Advisory Group Inc increased its holdings in shares of AST SpaceMobile by 2.0% during the second quarter. Accordant Advisory Group Inc now owns 162,823 shares of the company’s stock worth $1,890,000 after buying an additional 3,146 shares in the last quarter. Finally, Calton & Associates Inc. bought a new position in shares of AST SpaceMobile in the second quarter valued at approximately $128,000. Institutional investors and hedge funds own 60.95% of the company’s stock.

AST SpaceMobile Price Performance

Shares of ASTS stock opened at $25.32 on Friday. The firm has a market cap of $7.34 billion, a price-to-earnings ratio of -11.94 and a beta of 1.60. AST SpaceMobile, Inc. has a 12 month low of $1.97 and a 12 month high of $39.08. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31. The stock has a 50-day moving average price of $24.72 and a 200 day moving average price of $20.60.

Analyst Ratings Changes

ASTS has been the subject of a number of recent analyst reports. UBS Group raised 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. B. Riley upped their price target on shares of AST SpaceMobile from $26.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Scotiabank lowered their price objective on shares of 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. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of AST SpaceMobile from $22.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th.

Insider Transactions at AST SpaceMobile

In related news, CTO Huiwen Yao sold 45,000 shares of the company’s stock in a transaction dated Tuesday, October 8th. The stock was 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 in the company, valued at approximately $1,334,300. This represents a 45.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through 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 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 trade represents a 0.38 % 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 quarter. 41.80% of the stock is owned by company insiders.

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.