B. Riley Wealth Advisors Inc. Has $267,000 Stock Position in AST SpaceMobile, Inc. (NASDAQ:ASTS)

B. Riley Wealth Advisors Inc. reduced its position in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 56.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,495 shares of the company’s stock after selling 13,455 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in AST SpaceMobile were worth $267,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ASTS. Fairfield Financial Advisors LTD bought a new stake in shares of AST SpaceMobile in the 3rd quarter valued at approximately $26,000. Hollencrest Capital Management acquired a new stake in AST SpaceMobile in the third quarter valued at approximately $26,000. Rakuten Securities Inc. bought a new stake in AST SpaceMobile in the third quarter worth approximately $68,000. Sunbelt Securities Inc. increased its stake in shares of AST SpaceMobile by 3,380.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 3,480 shares of the company’s stock worth $91,000 after purchasing an additional 3,380 shares during the last quarter. Finally, KBC Group NV bought a new position in shares of AST SpaceMobile during the 3rd quarter valued at $104,000. 60.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at AST SpaceMobile

In related news, COO Shanti B. Gupta sold 80,000 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $25.83, for a total transaction of $2,066,400.00. Following the transaction, the chief operating officer now owns 393,232 shares of the company’s stock, valued at approximately $10,157,182.56. The trade was a 16.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Scott Wisniewski sold 2,700 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $23.12, for a total transaction of $62,424.00. Following the transaction, the president now owns 712,660 shares of the company’s stock, valued at approximately $16,476,699.20. The trade was a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 127,700 shares of company stock worth $3,220,524 in the last 90 days. 41.80% of the stock is owned by company insiders.

AST SpaceMobile Stock Down 0.5 %

ASTS stock opened at $22.88 on Friday. The stock has a market capitalization of $6.63 billion, a price-to-earnings ratio of -10.79 and a beta of 1.60. The company has a 50-day moving average of $24.65 and a two-hundred day moving average of $21.72. 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 current ratio of 5.80 and a quick ratio of 5.80.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ASTS shares. Deutsche Bank Aktiengesellschaft upped their price objective on shares of AST SpaceMobile from $22.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. UBS Group increased their price objective on AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a report on Friday, November 15th. Scotiabank cut their price objective 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, B. Riley upped their target price on AST SpaceMobile from $26.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th.

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.