Amalgamated Bank Has $120,000 Holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Amalgamated Bank increased its holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 17.4% in the third quarter, HoldingsChannel reports. The firm owned 4,578 shares of the company’s stock after purchasing an additional 679 shares during the period. Amalgamated Bank’s holdings in AST SpaceMobile were worth $120,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of AST SpaceMobile by 49.9% in the first quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company’s stock valued at $19,325,000 after purchasing an additional 2,217,531 shares during the last quarter. American International Group Inc. grew its holdings in AST SpaceMobile by 41.5% in the 1st quarter. American International Group Inc. now owns 56,527 shares of the company’s stock valued at $164,000 after buying an additional 16,568 shares during the last quarter. Natixis grew its holdings in AST SpaceMobile by 62.2% in the 1st quarter. Natixis now owns 55,863 shares of the company’s stock valued at $162,000 after buying an additional 21,430 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in AST SpaceMobile by 71.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 55,335 shares of the company’s stock worth $161,000 after buying an additional 22,987 shares during the period. Finally, Masters Capital Management LLC acquired a new position in shares of AST SpaceMobile during the first quarter worth approximately $2,900,000. 60.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ASTS. UBS Group upped their price objective on shares of AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Friday. B. Riley lifted their target price on shares of AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft increased their price target 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. Finally, Scotiabank lowered their price objective on AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating on the stock in a research note on Friday.

Insider Buying and Selling at AST SpaceMobile

In other AST SpaceMobile news, Director Adriana Cisneros bought 4,934 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was purchased at an average cost of $26.32 per share, with a total value of $129,862.88. Following the completion of the purchase, the director now owns 774,772 shares in the company, valued at approximately $20,391,999.04. The trade was a 0.64 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Shanti B. Gupta sold 80,000 shares of the stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $25.83, for a total value of $2,066,400.00. Following the completion of the sale, the chief operating officer now owns 393,232 shares of the company’s stock, valued at $10,157,182.56. This trade represents a 16.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 127,700 shares of company stock valued at $3,220,524. 41.80% of the stock is currently owned by company insiders.

AST SpaceMobile Stock Down 9.6 %

Shares of ASTS opened at $24.23 on Monday. The firm has a market capitalization of $6.53 billion, a price-to-earnings ratio of -11.43 and a beta of 1.64. AST SpaceMobile, Inc. has a 52 week low of $1.97 and a 52 week high of $39.08. The company has a debt-to-equity ratio of 0.83, a quick ratio of 6.38 and a current ratio of 6.38. The business’s fifty day moving average price is $25.63 and its two-hundred day moving average price is $18.52.

About AST SpaceMobile

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.