Hsbc Holdings PLC Sells 1,353 Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS)

Hsbc Holdings PLC lowered its stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 8.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,582 shares of the company’s stock after selling 1,353 shares during the period. Hsbc Holdings PLC’s holdings in AST SpaceMobile were worth $333,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ASTS. Summit Securities Group LLC purchased a new stake in AST SpaceMobile during the 4th quarter worth about $37,000. Golden State Wealth Management LLC bought a new position in shares of AST SpaceMobile in the fourth quarter valued at approximately $46,000. CIBC Private Wealth Group LLC grew its stake in AST SpaceMobile by 106.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company’s stock valued at $53,000 after acquiring an additional 1,222 shares in the last quarter. AlphaQuest LLC bought a new stake in AST SpaceMobile during the 4th quarter worth approximately $67,000. Finally, SRS Capital Advisors Inc. increased its holdings in AST SpaceMobile by 554.5% during the 4th quarter. SRS Capital Advisors Inc. now owns 3,482 shares of the company’s stock worth $73,000 after acquiring an additional 2,950 shares during the period. 60.95% of the stock is owned by institutional investors.

Insider Activity

In other AST SpaceMobile news, Director Julio A. Torres sold 20,000 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $30.73, for a total transaction of $614,600.00. Following the completion of the sale, the director now directly owns 52,628 shares in the company, valued at $1,617,258.44. This represents a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 41.80% of the stock is owned by corporate insiders.

AST SpaceMobile Stock Down 0.2 %

Shares of NASDAQ ASTS opened at $25.27 on Friday. The stock has a market capitalization of $8.00 billion, a P/E ratio of -11.92 and a beta of 2.05. AST SpaceMobile, Inc. has a one year low of $2.12 and a one year high of $39.08. The firm’s 50 day simple moving average is $24.94 and its two-hundred day simple moving average is $24.51. 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

ASTS has been the subject of a number of recent analyst reports. Roth Capital began coverage on shares of AST SpaceMobile in a research report on Thursday, April 10th. They set a “buy” rating and a $42.00 price target for the company. UBS Group upped their target price on AST SpaceMobile from $31.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Scotiabank reissued an “outperform” rating on shares of AST SpaceMobile in a report on Wednesday, March 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $30.00 target price on shares of AST SpaceMobile in a research note on Tuesday, March 4th. Finally, Oppenheimer initiated coverage on shares of AST SpaceMobile in a research note on Monday. They issued a “market perform” rating for the company. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $42.82.

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.