Penserra Capital Management LLC Sells 89,485 Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS)

Penserra Capital Management LLC cut its stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 60.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,417 shares of the company’s stock after selling 89,485 shares during the period. Penserra Capital Management LLC’s holdings in AST SpaceMobile were worth $1,527,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Fairfield Financial Advisors LTD bought a new position in shares of AST SpaceMobile during the third quarter valued at about $26,000. Hollencrest Capital Management purchased a new stake in AST SpaceMobile in the 3rd quarter valued at about $26,000. Rakuten Securities Inc. bought a new position in shares of AST SpaceMobile during the 3rd quarter worth approximately $68,000. KBC Group NV purchased a new position in shares of AST SpaceMobile in the 3rd quarter worth approximately $104,000. Finally, Future Financial Wealth Managment LLC bought a new position in shares of AST SpaceMobile in the third quarter valued at approximately $105,000. 60.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at AST SpaceMobile

In related news, CTO Huiwen Yao sold 45,000 shares of the firm’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 transaction, the chief technology officer now directly owns 55,000 shares of the company’s stock, valued at approximately $1,334,300. This trade represents a 45.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Scott Wisniewski sold 2,700 shares of AST SpaceMobile stock in a transaction that occurred on Monday, September 30th. The shares were 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 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. In the last three months, insiders have sold 127,700 shares of company stock worth $3,220,524. Company insiders own 41.80% of the company’s stock.

AST SpaceMobile Stock Down 3.4 %

Shares of NASDAQ ASTS opened at $23.39 on Wednesday. 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 stock has a market capitalization of $6.78 billion, a PE ratio of -11.03 and a beta of 1.64. AST SpaceMobile, Inc. has a one year low of $1.97 and a one year high of $39.08. The business’s fifty day moving average price is $25.26 and its 200-day moving average price is $19.46.

Analysts Set New Price Targets

Several research analysts have weighed in on ASTS shares. B. Riley boosted their price objective on AST SpaceMobile from $26.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of AST SpaceMobile from $22.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Scotiabank decreased 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 report on Friday, November 15th. Finally, UBS Group boosted their target price on shares of AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, November 15th.

AST SpaceMobile 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.