Sunbelt Securities Inc. Buys 3,380 Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS)

Sunbelt Securities Inc. boosted its stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 3,380.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,480 shares of the company’s stock after buying an additional 3,380 shares during the quarter. Sunbelt Securities Inc.’s holdings in AST SpaceMobile were worth $91,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ASTS. Privium Fund Management B.V. purchased a new position in shares of AST SpaceMobile during the third quarter worth approximately $21,476,000. Oppenheimer & Co. Inc. purchased a new position in AST SpaceMobile during the 2nd quarter worth $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 valued at $29,594,000 after purchasing an additional 787,566 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of AST SpaceMobile in the 2nd quarter worth $4,757,000. Finally, State Street Corp grew its position in shares of AST SpaceMobile by 14.8% during the 3rd quarter. State Street Corp now owns 3,091,577 shares of the company’s stock worth $80,845,000 after buying an additional 399,713 shares in the last quarter. Institutional investors own 60.95% of the company’s stock.

AST SpaceMobile Stock Performance

ASTS stock opened at $23.48 on Monday. AST SpaceMobile, Inc. has a one year low of $1.97 and a one year high of $39.08. The firm has a market cap of $6.80 billion, a price-to-earnings ratio of -11.08 and a beta of 1.60. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80. The firm has a 50-day simple moving average of $24.66 and a two-hundred day simple moving average of $21.37.

Insider Buying and Selling

In other AST SpaceMobile news, 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 transaction 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. The trade was a 16.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Scott Wisniewski sold 2,700 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $23.12, for a total transaction of $62,424.00. Following the completion of the transaction, the president now directly owns 712,660 shares of the company’s stock, valued at approximately $16,476,699.20. This 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 90 days. 41.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

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.