Orion Portfolio Solutions LLC Buys Shares of 12,309 AST SpaceMobile, Inc. (NASDAQ:ASTS)

Orion Portfolio Solutions LLC purchased a new position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 12,309 shares of the company's stock, valued at approximately $260,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake in shares of 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. raised its holdings in shares of AST SpaceMobile by 11.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,266,713 shares of the company's stock worth $26,728,000 after acquiring an additional 135,008 shares during the last quarter. Handelsbanken Fonder AB bought a new position in AST SpaceMobile in the 4th quarter valued at about $755,000. Van ECK Associates Corp boosted its stake in AST SpaceMobile by 150.1% during the 4th quarter. Van ECK Associates Corp now owns 258,747 shares of the company's stock valued at $5,460,000 after purchasing an additional 155,310 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in AST SpaceMobile by 57.6% during the 4th quarter. Bank of New York Mellon Corp now owns 641,678 shares of the company's stock worth $13,539,000 after purchasing an additional 234,517 shares in the last quarter. Institutional investors own 60.95% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on ASTS. Cantor Fitzgerald restated an "overweight" rating and issued a $30.00 target price 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. UBS Group upped their target price 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, Roth Capital assumed coverage on shares of AST SpaceMobile in a report on Thursday. They set a "buy" rating and a $42.00 price target on the stock. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $42.82.

Insider Transactions at AST SpaceMobile

In related news, Director Julio A. Torres sold 20,000 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 52,628 shares of the company's stock, valued at approximately $1,617,258.44. This trade represents a 27.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 41.80% of the company's stock.

AST SpaceMobile Stock Performance

NASDAQ:ASTS traded up $0.14 during trading hours on Friday, reaching $23.28. The stock had a trading volume of 6,130,867 shares, compared to its average volume of 12,334,439. AST SpaceMobile, Inc. has a 12-month low of $1.99 and a 12-month high of $39.08. The stock has a 50 day simple moving average of $26.82 and a 200 day simple moving average of $24.72. The stock has a market cap of $7.37 billion, a P/E ratio of -10.98 and a beta of 1.81. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80.

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.