Magnetar Financial LLC Acquires New Shares in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Magnetar Financial LLC purchased a new position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 86,343 shares of the company's stock, valued at approximately $1,822,000.

Several other institutional investors also recently bought and sold shares of ASTS. Golden State Wealth Management LLC acquired a new stake in AST SpaceMobile in the 4th quarter valued at $46,000. AlphaQuest LLC acquired a new stake in AST SpaceMobile during the 4th quarter valued at $67,000. SRS Capital Advisors Inc. increased its stake in AST SpaceMobile by 554.5% during the 4th 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 period. Sunbelt Securities Inc. lifted its holdings in AST SpaceMobile by 3,380.0% in the 3rd quarter. Sunbelt Securities Inc. now owns 3,480 shares of the company's stock worth $91,000 after buying an additional 3,380 shares in the last quarter. Finally, KBC Group NV purchased a new position in AST SpaceMobile in the 3rd quarter valued at about $104,000. 60.95% of the stock is currently owned by institutional investors and hedge funds.

AST SpaceMobile Price Performance

Shares of ASTS traded up $3.59 during midday trading on Monday, reaching $29.30. The stock had a trading volume of 10,805,576 shares, compared to its average volume of 12,004,761. The firm's 50 day moving average price is $25.84 and its 200-day moving average price is $25.12. AST SpaceMobile, Inc. has a 52 week low of $1.97 and a 52 week high of $39.08. The company has a market capitalization of $9.27 billion, a P/E ratio of -13.82 and a beta of 1.62. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80.

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Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Scotiabank reaffirmed an "outperform" rating on shares of AST SpaceMobile in a research report on Wednesday, March 5th. UBS Group lifted their price target on shares of AST SpaceMobile from $31.00 to $38.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $30.00 price objective on shares of AST SpaceMobile in a research note on Tuesday, March 4th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, AST SpaceMobile presently has an average rating of "Buy" and an average target price of $42.98.

Insider Activity at AST SpaceMobile

In other AST SpaceMobile 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 sale, the director now directly 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. 41.80% of the stock is owned by 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.