Advisory Services Network LLC Invests $1.19 Million in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Advisory Services Network LLC bought a new position in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 56,482 shares of the company's stock, valued at approximately $1,192,000.

A number of other institutional investors and hedge funds also recently modified their holdings of ASTS. Xponance Inc. boosted its stake in AST SpaceMobile by 8.7% in the 4th quarter. Xponance Inc. now owns 9,676 shares of the company's stock worth $204,000 after purchasing an additional 772 shares during the period. CIBC Private Wealth Group LLC increased its stake in AST SpaceMobile by 106.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company's stock valued at $53,000 after buying an additional 1,222 shares during the period. Americana Partners LLC lifted its position in AST SpaceMobile by 5.2% in the 4th quarter. Americana Partners LLC now owns 27,047 shares of the company's stock worth $571,000 after buying an additional 1,326 shares in the last quarter. Axxcess Wealth Management LLC boosted its stake in shares of AST SpaceMobile by 16.7% during the 4th quarter. Axxcess Wealth Management LLC now owns 10,562 shares of the company's stock valued at $223,000 after buying an additional 1,508 shares during the period. Finally, Colonial River Investments LLC grew its holdings in shares of AST SpaceMobile by 17.3% during the 4th quarter. Colonial River Investments LLC now owns 10,618 shares of the company's stock valued at $224,000 after acquiring an additional 1,564 shares in the last quarter. 60.95% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ASTS. UBS Group increased their price objective on AST SpaceMobile from $31.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Scotiabank reiterated an "outperform" rating on shares of AST SpaceMobile in a research note on Wednesday, March 5th. Cantor Fitzgerald reiterated an "overweight" rating and set a $30.00 price target on shares of AST SpaceMobile in a report on Tuesday, March 4th. Finally, Roth Capital assumed coverage on AST SpaceMobile in a research report on Thursday, April 10th. They set a "buy" rating and a $42.00 target price on the stock. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $42.82.

AST SpaceMobile Price Performance

Shares of ASTS traded down $0.08 during mid-day trading on Wednesday, reaching $22.84. The company had a trading volume of 1,596,882 shares, compared to its average volume of 12,281,080. The company's 50-day moving average is $26.70 and its 200-day moving average is $24.69. 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 company has a market capitalization of $7.23 billion, a P/E ratio of -10.78 and a beta of 1.81. AST SpaceMobile, Inc. has a twelve month low of $1.99 and a twelve month high of $39.08.

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.