Raymond James Financial Inc. Invests $1.35 Million in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Raymond James Financial Inc. acquired a new stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 63,961 shares of the company’s stock, valued at approximately $1,350,000.

Several other hedge funds have also recently made changes to their positions in ASTS. Americana Partners LLC lifted its holdings in AST SpaceMobile by 5.2% in the 4th quarter. Americana Partners LLC now owns 27,047 shares of the company’s stock valued at $571,000 after purchasing an additional 1,326 shares in the last quarter. Colonial River Investments LLC raised its position in shares of AST SpaceMobile by 17.3% in the fourth quarter. Colonial River Investments LLC now owns 10,618 shares of the company’s stock valued at $224,000 after buying an additional 1,564 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in shares of AST SpaceMobile in the fourth quarter worth about $46,000. KBC Group NV lifted its stake in shares of AST SpaceMobile by 63.8% in the fourth quarter. KBC Group NV now owns 6,509 shares of the company’s stock worth $137,000 after buying an additional 2,536 shares in the last quarter. Finally, MBE Wealth Management LLC boosted its position in AST SpaceMobile by 7.0% during the fourth quarter. MBE Wealth Management LLC now owns 39,718 shares of the company’s stock worth $838,000 after acquiring an additional 2,602 shares during the last quarter. 60.95% of the stock is owned by institutional investors and hedge funds.

AST SpaceMobile Trading Up 2.6 %

Shares of AST SpaceMobile stock opened at $22.41 on Thursday. 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 company has a market capitalization of $7.09 billion, a P/E ratio of -10.57 and a beta of 1.62. AST SpaceMobile, Inc. has a 1 year low of $1.98 and a 1 year high of $39.08. The company’s fifty day moving average is $26.46 and its two-hundred day moving average is $25.02.

Insider Activity at AST SpaceMobile

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 transaction, the director now directly owns 52,628 shares in the company, valued at approximately $1,617,258.44. This represents a 27.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 41.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ASTS has been the topic of a number of analyst reports. UBS Group lifted their price objective on AST SpaceMobile from $31.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Scotiabank reiterated an “outperform” rating on shares of AST SpaceMobile in a report on Wednesday, March 5th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $30.00 price target on shares of AST SpaceMobile in a research report on Tuesday, March 4th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $42.98.

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.