Commonwealth Equity Services LLC Acquires 48,653 Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS)

Commonwealth Equity Services LLC grew its stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 161.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 78,815 shares of the company’s stock after purchasing an additional 48,653 shares during the quarter. Commonwealth Equity Services LLC’s holdings in AST SpaceMobile were worth $1,663,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ASTS. Golden State Wealth Management LLC purchased a new stake in AST SpaceMobile in the 4th quarter valued at about $46,000. AlphaQuest LLC purchased a new stake in shares of AST SpaceMobile in the fourth quarter valued at approximately $67,000. Sunbelt Securities Inc. grew its stake in AST SpaceMobile by 3,380.0% in the third quarter. Sunbelt Securities Inc. now owns 3,480 shares of the company’s stock worth $91,000 after purchasing an additional 3,380 shares in the last quarter. 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 purchasing an additional 2,950 shares during the period. Finally, Jones Financial Companies Lllp lifted its holdings in shares of AST SpaceMobile by 667.1% in the 4th quarter. Jones Financial Companies Lllp now owns 5,454 shares of the company’s stock worth $115,000 after buying an additional 4,743 shares during the period. 60.95% of the stock is currently owned by institutional investors.

AST SpaceMobile Price Performance

ASTS opened at $24.06 on Friday. The firm has a market capitalization of $7.61 billion, a PE ratio of -11.35 and a beta of 1.62. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80. The business’s 50-day moving average is $26.45 and its two-hundred day moving average is $25.15. AST SpaceMobile, Inc. has a 1 year low of $1.97 and a 1 year high of $39.08.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Scotiabank restated an “outperform” rating on shares of AST SpaceMobile in a research note on Wednesday, March 5th. UBS Group raised their target price on shares of AST SpaceMobile from $31.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $30.00 price target on shares of AST SpaceMobile in a research report on Tuesday, March 4th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $42.98.

Insider Transactions at AST SpaceMobile

In other news, Director Julio A. Torres sold 20,000 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $30.73, for a total value of $614,600.00. Following the completion of the sale, the director now owns 52,628 shares of the company’s stock, valued at $1,617,258.44. This trade represents a 27.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 41.80% of the company’s stock.

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.