State of New Jersey Common Pension Fund D Buys Shares of 58,720 AST SpaceMobile, Inc. (NASDAQ:ASTS)

State of New Jersey Common Pension Fund D purchased a new position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 58,720 shares of the company’s stock, valued at approximately $1,536,000.

A number of other institutional investors and hedge funds have also made changes to their positions in ASTS. Fairfield Financial Advisors LTD acquired a new stake in AST SpaceMobile in the third quarter worth $26,000. Hollencrest Capital Management acquired a new stake in shares of AST SpaceMobile in the 3rd quarter worth about $26,000. Black Maple Capital Management LP acquired a new stake in shares of AST SpaceMobile in the 1st quarter worth about $87,000. Future Financial Wealth Managment LLC acquired a new position in AST SpaceMobile during the 3rd quarter valued at about $105,000. Finally, Amalgamated Bank grew its position in AST SpaceMobile by 17.4% in the 3rd quarter. Amalgamated Bank now owns 4,578 shares of the company’s stock worth $120,000 after purchasing an additional 679 shares during the last quarter. 60.95% of the stock is currently owned by institutional investors and hedge funds.

AST SpaceMobile Stock Performance

Shares of NASDAQ ASTS opened at $25.80 on Tuesday. AST SpaceMobile, Inc. has a 1 year low of $1.97 and a 1 year high of $39.08. The firm has a market cap of $6.95 billion, a P/E ratio of -12.17 and a beta of 1.64. The stock has a fifty day moving average price of $25.62 and a two-hundred day moving average price of $18.69. The company has a debt-to-equity ratio of 0.83, a quick ratio of 6.38 and a current ratio of 6.38.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ASTS. UBS Group lifted their price target on AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a report on Friday. Scotiabank reduced their price target on AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating for the company in a research report on Friday. Deutsche Bank Aktiengesellschaft increased their price target on AST SpaceMobile from $22.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Finally, B. Riley lifted their price objective on shares of AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, August 29th.

Insider Activity

In other AST SpaceMobile news, President Scott Wisniewski sold 2,700 shares of the company’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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Adriana Cisneros acquired 4,934 shares of the stock in a transaction dated Friday, September 6th. The stock was acquired at an average cost of $26.32 per share, for a total transaction of $129,862.88. Following the purchase, the director now directly 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 disclosure for this purchase can be found here. Insiders sold a total of 127,700 shares of company stock worth $3,220,524 over the last 90 days. 41.80% of the stock is currently owned by company insiders.

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.