Jones Financial Companies Lllp Purchases 4,743 Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS)

Jones Financial Companies Lllp raised its position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 667.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,454 shares of the company’s stock after acquiring an additional 4,743 shares during the period. Jones Financial Companies Lllp’s holdings in AST SpaceMobile were worth $115,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Golden State Wealth Management LLC bought a new stake in AST SpaceMobile during the fourth quarter valued at about $46,000. SRS Capital Advisors Inc. boosted its holdings in AST SpaceMobile by 554.5% during the fourth quarter. SRS Capital Advisors Inc. now owns 3,482 shares of the company’s stock valued at $73,000 after acquiring an additional 2,950 shares during the period. Sunbelt Securities Inc. raised its position in shares of AST SpaceMobile by 3,380.0% during the third quarter. Sunbelt Securities Inc. now owns 3,480 shares of the company’s stock valued at $91,000 after buying an additional 3,380 shares during the last quarter. KBC Group NV acquired a new position in shares of AST SpaceMobile during the third quarter valued at about $104,000. Finally, New Millennium Group LLC acquired a new position in shares of AST SpaceMobile during the third quarter valued at about $110,000. 60.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Scotiabank reaffirmed an “outperform” rating on shares of AST SpaceMobile in a research report on Wednesday, March 5th. UBS Group upped their price objective 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 set a $30.00 price objective on shares of AST SpaceMobile in a research report on Tuesday, March 4th. Five analysts have rated the stock with a buy rating, According to MarketBeat, AST SpaceMobile has an average rating of “Buy” and a consensus target price of $42.98.

AST SpaceMobile Stock Performance

NASDAQ:ASTS opened at $28.15 on Friday. AST SpaceMobile, Inc. has a 12-month low of $1.97 and a 12-month high of $39.08. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $8.91 billion, a PE ratio of -13.28 and a beta of 1.62. The firm has a 50-day moving average price of $25.53 and a 200 day moving average price of $25.28.

Insider Buying and Selling

In other news, Director Julio A. Torres sold 20,000 shares of the firm’s stock in a transaction that occurred on 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 owns 52,628 shares of the company’s stock, valued at approximately $1,617,258.44. This trade represents a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company 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.