Raymond James & Associates Lowers Position in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Raymond James & Associates cut its holdings in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 9.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 71,276 shares of the company’s stock after selling 7,307 shares during the quarter. Raymond James & Associates’ holdings in AST SpaceMobile were worth $430,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quantbot Technologies LP bought a new stake in AST SpaceMobile during the third quarter valued at about $83,000. State Board of Administration of Florida Retirement System raised its holdings in AST SpaceMobile by 33.4% during the third quarter. State Board of Administration of Florida Retirement System now owns 22,940 shares of the company’s stock valued at $87,000 after acquiring an additional 5,740 shares during the period. Marathon Trading Investment Management LLC bought a new stake in AST SpaceMobile during the third quarter valued at about $114,000. SG Americas Securities LLC bought a new stake in shares of AST SpaceMobile in the fourth quarter worth about $115,000. Finally, Fox Run Management L.L.C. bought a new stake in shares of AST SpaceMobile in the third quarter worth about $133,000. 60.95% of the stock is owned by institutional investors.

AST SpaceMobile Stock Up 1.8 %

Shares of NASDAQ:ASTS opened at $2.23 on Friday. AST SpaceMobile, Inc. has a 1 year low of $1.97 and a 1 year high of $7.10. The business has a 50 day simple moving average of $2.70 and a two-hundred day simple moving average of $3.66. The firm has a market capitalization of $570.98 million, a PE ratio of -2.12 and a beta of 0.87. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.31 and a quick ratio of 2.31.

AST SpaceMobile (NASDAQ:ASTS) last announced its earnings results on Monday, April 1st. The company reported ($0.35) earnings per share (EPS) for the quarter. On average, equities analysts predict that AST SpaceMobile, Inc. will post -0.62 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Scotiabank reduced their target price on AST SpaceMobile from $7.50 to $7.40 and set a “sector outperform” rating on the stock in a report on Tuesday, April 2nd. Deutsche Bank Aktiengesellschaft dropped their price target on AST SpaceMobile from $23.00 to $19.00 and set a “buy” rating for the company in a research report on Wednesday, April 3rd. Finally, UBS Group began coverage on AST SpaceMobile in a research report on Friday, March 8th. They issued a “buy” rating and a $7.00 price target for the company.

AST SpaceMobile Company 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.