B. Riley Wealth Advisors Inc. Has $267,000 Stock Position in AST SpaceMobile, Inc. (NASDAQ:ASTS)

B. Riley Wealth Advisors Inc. lessened its position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 56.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 10,495 shares of the company’s stock after selling 13,455 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in AST SpaceMobile were worth $267,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of ASTS. Fairfield Financial Advisors LTD bought a new stake in AST SpaceMobile in the 3rd quarter valued at $26,000. Hollencrest Capital Management acquired a new stake in shares of AST SpaceMobile during the 3rd quarter valued at about $26,000. Rakuten Securities Inc. bought a new stake in AST SpaceMobile in the third quarter valued at about $68,000. Sunbelt Securities Inc. increased its stake in AST SpaceMobile by 3,380.0% in the third quarter. Sunbelt Securities Inc. now owns 3,480 shares of the company’s stock valued at $91,000 after acquiring an additional 3,380 shares during the period. Finally, KBC Group NV acquired a new position in AST SpaceMobile in the third quarter worth about $104,000. 60.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ASTS shares. B. Riley upped their price objective on AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Scotiabank lowered their price target on AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating on the stock in a research report on Friday, November 15th. UBS Group lifted their price objective on AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a 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 report on Wednesday, September 4th.

AST SpaceMobile Trading Down 0.5 %

Shares of ASTS opened at $22.88 on Friday. 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 company has a market cap of $6.63 billion, a price-to-earnings ratio of -10.79 and a beta of 1.60. The stock has a fifty day moving average price of $24.65 and a two-hundred day moving average price of $21.72. AST SpaceMobile, Inc. has a 52-week low of $1.97 and a 52-week high of $39.08.

Insider Activity

In other AST SpaceMobile news, 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 completion of the sale, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Shanti B. Gupta sold 80,000 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $25.83, for a total transaction of $2,066,400.00. Following the completion of the transaction, the chief operating officer now directly owns 393,232 shares of the company’s stock, valued at approximately $10,157,182.56. This represents a 16.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 127,700 shares of company stock worth $3,220,524. 41.80% of the stock is owned by corporate insiders.

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.