Penserra Capital Management LLC Has $1.53 Million Position in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Penserra Capital Management LLC cut its stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 60.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm 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 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ASTS. Janus Henderson Group PLC raised its position in AST SpaceMobile by 209.9% during the first quarter. Janus Henderson Group PLC now owns 7,450,467 shares of the company's stock valued at $21,606,000 after buying an additional 5,046,667 shares during the period. Vanguard Group Inc. increased its holdings in shares of AST SpaceMobile by 49.9% in the 1st 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 period. Privium Fund Management B.V. purchased a new stake in shares of AST SpaceMobile in the third quarter worth approximately $21,476,000. Oppenheimer & Co. Inc. acquired a new stake in shares of AST SpaceMobile during the second quarter worth approximately $9,270,000. Finally, Charles Schwab Investment Management Inc. grew its position in AST SpaceMobile by 228.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,131,705 shares of the company's stock valued at $29,594,000 after purchasing an additional 787,566 shares in the last quarter. Institutional investors and hedge funds own 60.95% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ASTS shares. UBS Group increased their target price on shares of AST SpaceMobile from $30.00 to $31.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. B. Riley increased their price objective on AST SpaceMobile from $26.00 to $36.00 and gave the stock a "buy" rating in a report on Thursday, August 29th. Scotiabank lowered their target price on AST SpaceMobile from $45.90 to $44.70 and set a "sector outperform" rating on the stock in a research note on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft raised 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.

AST SpaceMobile Stock Down 0.4 %

Shares of AST SpaceMobile stock traded down $0.10 during midday trading on Wednesday, reaching $23.29. 6,944,095 shares of the company's stock traded hands, compared to its average volume of 10,634,587. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80. AST SpaceMobile, Inc. has a 52 week low of $1.97 and a 52 week high of $39.08. The company's 50 day simple moving average is $25.17 and its 200 day simple moving average is $19.61. The company has a market cap of $6.75 billion, a price-to-earnings ratio of -11.04 and a beta of 1.64.

Insiders Place Their Bets

In other news, President Scott Wisniewski sold 2,700 shares of the firm's stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $23.12, for a total value of $62,424.00. Following the sale, the president now directly owns 712,660 shares of the company's stock, valued at approximately $16,476,699.20. This trade represents a 0.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Adriana Cisneros bought 4,934 shares of the firm's stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average price of $26.32 per share, with a total value of $129,862.88. Following the purchase, the director now owns 774,772 shares in the company, valued at $20,391,999.04. This trade represents a 0.64 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 127,700 shares of company stock valued at $3,220,524 over the last three months. 41.80% of the stock is currently owned by 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.