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

Commonwealth Equity Services LLC boosted its stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 161.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,815 shares of the company's stock after buying an additional 48,653 shares during the period. Commonwealth Equity Services LLC's holdings in AST SpaceMobile were worth $1,663,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ASTS. Americana Partners LLC increased its holdings in shares of AST SpaceMobile by 5.2% during the fourth quarter. Americana Partners LLC now owns 27,047 shares of the company's stock valued at $571,000 after acquiring an additional 1,326 shares in the last quarter. Colonial River Investments LLC increased its stake in 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 purchasing an additional 1,564 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in 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 grew its holdings in shares of AST SpaceMobile by 7.0% during the fourth quarter. MBE Wealth Management LLC now owns 39,718 shares of the company's stock valued at $838,000 after buying an additional 2,602 shares during the last quarter. Hedge funds and other institutional investors own 60.95% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ASTS shares. Cantor Fitzgerald restated an "overweight" rating and issued a $30.00 price objective on shares of AST SpaceMobile in a report on Tuesday, March 4th. Scotiabank restated an "outperform" rating on shares of AST SpaceMobile in a research note on Wednesday, March 5th. Finally, UBS Group lifted 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. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $42.98.

AST SpaceMobile Stock Performance

Shares of NASDAQ:ASTS traded down $0.89 during trading on Tuesday, hitting $21.85. The company's stock had a trading volume of 8,801,950 shares, compared to its average volume of 12,083,470. The company has a 50-day moving average of $26.46 and a 200-day moving average of $25.04. 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 firm has a market cap of $6.92 billion, a price-to-earnings ratio of -10.31 and a beta of 1.62. AST SpaceMobile, Inc. has a 12 month low of $1.97 and a 12 month high of $39.08.

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 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 $1,617,258.44. The trade was a 27.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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.