Gotham Asset Management LLC Trims Stock Position in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Gotham Asset Management LLC lowered its position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 1.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 514,871 shares of the company’s stock after selling 5,759 shares during the period. Gotham Asset Management LLC owned about 0.18% of AST SpaceMobile worth $10,864,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Summit Securities Group LLC bought a new position in AST SpaceMobile in the fourth quarter worth about $37,000. Golden State Wealth Management LLC bought a new position in AST SpaceMobile in the fourth quarter worth about $46,000. CIBC Private Wealth Group LLC raised its holdings in AST SpaceMobile by 106.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company’s stock worth $53,000 after purchasing an additional 1,222 shares in the last quarter. AlphaQuest LLC bought a new position in AST SpaceMobile in the fourth quarter worth about $67,000. Finally, SRS Capital Advisors Inc. increased its position in shares of AST SpaceMobile by 554.5% during the fourth quarter. SRS Capital Advisors Inc. now owns 3,482 shares of the company’s stock worth $73,000 after purchasing an additional 2,950 shares in the last quarter. Hedge funds and other institutional investors own 60.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ASTS. UBS Group upped their price target on AST SpaceMobile from $31.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Roth Capital initiated coverage on shares of AST SpaceMobile in a report on Thursday, April 10th. They set a “buy” rating and a $42.00 price objective on the stock. Oppenheimer initiated coverage on shares of AST SpaceMobile in a report on Monday, May 5th. They set a “market perform” rating on the stock. Scotiabank restated an “outperform” rating on shares of AST SpaceMobile in a report on Wednesday, March 5th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $30.00 price objective on shares of AST SpaceMobile in a report on Tuesday, March 4th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $42.82.

Insider Buying and Selling

In other AST SpaceMobile news, Director Julio A. Torres sold 20,000 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $30.73, for a total transaction of $614,600.00. Following the sale, the director now directly owns 52,628 shares of the company’s stock, valued at approximately $1,617,258.44. This trade represents a 27.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 34.15% of the stock is owned by corporate insiders.

AST SpaceMobile Price Performance

Shares of NASDAQ:ASTS opened at $25.76 on Monday. AST SpaceMobile, Inc. has a twelve month low of $2.12 and a twelve month high of $39.08. The company’s 50 day moving average is $24.88 and its 200 day moving average is $24.48. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31. The company has a market cap of $8.15 billion, a PE ratio of -12.15 and a beta of 2.05.

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.