Fox Run Management L.L.C. Invests $751,000 in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Fox Run Management L.L.C. bought a new position in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 35,590 shares of the company's stock, valued at approximately $751,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its position in AST SpaceMobile by 235.9% in the third quarter. JPMorgan Chase & Co. now owns 247,781 shares of the company's stock valued at $6,479,000 after buying an additional 174,007 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of AST SpaceMobile by 11.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,266,713 shares of the company's stock worth $26,728,000 after purchasing an additional 135,008 shares during the last quarter. Algert Global LLC acquired a new stake in shares of AST SpaceMobile in the third quarter valued at $768,000. Handelsbanken Fonder AB acquired a new position in AST SpaceMobile during the 4th quarter worth about $755,000. Finally, Van ECK Associates Corp grew its holdings in AST SpaceMobile by 150.1% during the 4th quarter. Van ECK Associates Corp now owns 258,747 shares of the company's stock worth $5,460,000 after acquiring an additional 155,310 shares during the last quarter. Institutional investors own 60.95% of the company's stock.

Analysts Set New Price Targets

ASTS has been the topic of a number of analyst reports. UBS Group increased their price target on AST SpaceMobile from $31.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. Cantor Fitzgerald restated an "overweight" rating and set a $30.00 target price on shares of AST SpaceMobile in a report on Tuesday, March 4th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of AST SpaceMobile in a report on Wednesday, March 5th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $42.98.

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AST SpaceMobile Price Performance

Shares of ASTS stock traded down $1.49 during trading hours on Thursday, reaching $25.80. The company's stock had a trading volume of 5,638,560 shares, compared to its average volume of 12,005,262. The firm's 50 day simple moving average is $26.28 and its 200-day simple moving average is $25.16. AST SpaceMobile, Inc. has a fifty-two week low of $1.97 and a fifty-two week 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 company has a market capitalization of $8.17 billion, a price-to-earnings ratio of -12.17 and a beta of 1.62.

Insider Activity

In related news, Director Julio A. Torres sold 20,000 shares of the company's stock in a transaction on Monday, March 10th. The stock was 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 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 currently owned by company insiders.

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.