Geode Capital Management LLC Has $85.45 Million Stake in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Geode Capital Management LLC lifted its stake in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 9.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,267,066 shares of the company’s stock after purchasing an additional 281,749 shares during the quarter. Geode Capital Management LLC’s holdings in AST SpaceMobile were worth $85,450,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Fairfield Financial Advisors LTD bought a new stake in shares of AST SpaceMobile during the 3rd quarter valued at $26,000. Hollencrest Capital Management acquired a new position in AST SpaceMobile in the third quarter valued at about $26,000. Rakuten Securities Inc. bought a new stake in AST SpaceMobile during the third quarter worth about $68,000. KBC Group NV bought a new stake in AST SpaceMobile during the third quarter worth about $104,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in AST SpaceMobile during the third quarter worth about $105,000. Institutional investors and hedge funds own 60.95% of the company’s stock.

AST SpaceMobile Stock Performance

Shares of ASTS stock opened at $23.00 on Friday. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31. AST SpaceMobile, Inc. has a 52 week low of $1.97 and a 52 week high of $39.08. The firm has a 50 day moving average of $24.68 and a 200-day moving average of $21.62. The company has a market cap of $6.66 billion, a price-to-earnings ratio of -10.85 and a beta of 1.60.

Insider Transactions at AST SpaceMobile

In related 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 transaction 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Huiwen Yao sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $24.26, for a total transaction of $1,091,700.00. Following the sale, the chief technology officer now owns 55,000 shares of the company’s stock, valued at approximately $1,334,300. The trade was a 45.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 127,700 shares of company stock valued at $3,220,524 over the last three months. Corporate insiders own 41.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ASTS. Scotiabank cut their price target on shares of AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating for the company in a report on Friday, November 15th. Deutsche Bank Aktiengesellschaft upped their target price on AST SpaceMobile from $22.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. B. Riley lifted their price target on AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Finally, UBS Group upped their price objective on AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, November 15th.

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.