AST SpaceMobile, Inc. (NASDAQ:ASTS) Stock Position Boosted by Guggenheim Capital LLC

Guggenheim Capital LLC boosted its holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 134.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,677 shares of the company's stock after buying an additional 14,732 shares during the quarter. Guggenheim Capital LLC's holdings in AST SpaceMobile were worth $542,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Summit Securities Group LLC purchased a new position in shares of AST SpaceMobile during the fourth quarter worth about $37,000. Golden State Wealth Management LLC purchased a new position in shares of AST SpaceMobile during the fourth quarter worth about $46,000. CIBC Private Wealth Group LLC grew its holdings in shares of AST SpaceMobile by 106.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company's stock worth $53,000 after purchasing an additional 1,222 shares during the last quarter. AlphaQuest LLC purchased a new position in shares of AST SpaceMobile during the fourth quarter worth about $67,000. Finally, SRS Capital Advisors Inc. grew its holdings in shares of AST SpaceMobile by 554.5% during the fourth quarter. SRS Capital Advisors Inc. now owns 3,482 shares of the company's stock worth $73,000 after buying an additional 2,950 shares during the last quarter. Hedge funds and other institutional investors own 60.95% of the company's stock.

AST SpaceMobile Stock Performance

Shares of NASDAQ:ASTS traded down $0.35 on Tuesday, reaching $23.90. 3,691,802 shares of the company's stock were exchanged, compared to its average volume of 12,484,806. The firm has a market capitalization of $7.56 billion, a price-to-earnings ratio of -11.27 and a beta of 1.81. AST SpaceMobile, Inc. has a fifty-two week low of $2.12 and a fifty-two week high of $39.08. The business's 50-day moving average is $25.42 and its two-hundred day moving average is $24.61. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31.

Insider Buying and Selling

In related news, Director Julio A. Torres sold 20,000 shares of the stock in a transaction dated 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 of the company's stock, valued at $1,617,258.44. This trade represents a 27.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 41.80% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.