65,950 Shares in AST SpaceMobile, Inc. (NASDAQ:ASTS) Purchased by Alpha Paradigm Partners LLC

Alpha Paradigm Partners LLC purchased a new position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS – Get Rating) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 65,950 shares of the company’s stock, valued at approximately $476,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ASTS. Raymond James & Associates acquired a new stake in shares of AST SpaceMobile in the 1st quarter valued at approximately $102,000. Cambridge Investment Research Advisors Inc. bought a new stake in AST SpaceMobile during the 1st quarter worth approximately $358,000. HighTower Advisors LLC increased its stake in AST SpaceMobile by 97.9% during the 1st quarter. HighTower Advisors LLC now owns 22,135 shares of the company’s stock worth $221,000 after purchasing an additional 10,950 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in AST SpaceMobile by 14.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 48,519 shares of the company’s stock worth $485,000 after purchasing an additional 6,246 shares in the last quarter. Finally, Penserra Capital Management LLC increased its stake in AST SpaceMobile by 18.8% during the 1st quarter. Penserra Capital Management LLC now owns 151,139 shares of the company’s stock worth $1,507,000 after purchasing an additional 23,910 shares in the last quarter. Institutional investors and hedge funds own 6.13% of the company’s stock.

AST SpaceMobile Price Performance

NASDAQ:ASTS opened at $6.17 on Wednesday. The firm has a fifty day simple moving average of $5.71 and a 200 day simple moving average of $6.54. AST SpaceMobile, Inc. has a 1-year low of $3.55 and a 1-year high of $14.27. The stock has a market capitalization of $1.17 billion, a PE ratio of -12.10 and a beta of 0.71. The company has a current ratio of 10.64, a quick ratio of 10.63 and a debt-to-equity ratio of 0.02.

Wall Street Analysts Forecast Growth

Separately, Deutsche Bank Aktiengesellschaft raised their price target on shares of AST SpaceMobile from $30.00 to $32.00 in a research note on Wednesday, November 23rd.

AST SpaceMobile Profile

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AST SpaceMobile, Inc operates space-based cellular broadband network for mobile phones. Its SpaceMobile service provides mobile broadband services for users traveling in and out of areas without terrestrial mobile services on land, at sea, or in flight. The company is headquartered in Midland, Texas.