FORA Capital LLC Makes New $4.22 Million Investment in AST SpaceMobile, Inc. (NASDAQ:ASTS)

FORA Capital LLC bought a new stake in AST SpaceMobile, Inc. (NASDAQ:ASTS) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 161,182 shares of the company’s stock, valued at approximately $4,215,000. FORA Capital LLC owned approximately 0.06% of AST SpaceMobile as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ASTS. Fairfield Financial Advisors LTD purchased a new stake in shares of AST SpaceMobile in the third quarter valued at about $26,000. Hollencrest Capital Management purchased a new stake in shares of AST SpaceMobile in the 3rd quarter valued at approximately $26,000. Rakuten Securities Inc. purchased a new stake in shares of AST SpaceMobile in the 3rd quarter valued at approximately $68,000. KBC Group NV acquired a new stake in shares of AST SpaceMobile during the 3rd quarter worth approximately $104,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in shares of AST SpaceMobile during the 3rd quarter valued at approximately $105,000. 60.95% of the stock is owned by institutional investors and hedge funds.

AST SpaceMobile Trading Up 4.3 %

Shares of ASTS traded up $1.01 during midday trading on Wednesday, hitting $24.40. 2,241,232 shares of the stock were exchanged, compared to its average volume of 10,608,665. 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 0.31, a quick ratio of 5.80 and a current ratio of 5.80. The stock has a fifty day simple moving average of $25.26 and a 200 day simple moving average of $19.46. The firm has a market cap of $7.07 billion, a P/E ratio of -11.03 and a beta of 1.64.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other AST SpaceMobile news, Director Adriana Cisneros purchased 4,934 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was bought at an average price of $26.32 per share, with a total value of $129,862.88. Following the transaction, the director now directly owns 774,772 shares of the company’s stock, valued at approximately $20,391,999.04. This represents a 0.64 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Shanti B. Gupta sold 80,000 shares of the company’s stock in a transaction on 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 sale, the chief operating officer now directly owns 393,232 shares in the company, valued at $10,157,182.56. This represents a 16.91 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 127,700 shares of company stock valued at $3,220,524. Corporate insiders own 41.80% of the company’s stock.

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.