Xponance Inc. Purchases 772 Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS)

Xponance Inc. boosted its holdings in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 8.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,676 shares of the company’s stock after buying an additional 772 shares during the period. Xponance Inc.’s holdings in AST SpaceMobile were worth $204,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Golden State Wealth Management LLC acquired a new position in shares of AST SpaceMobile in the 4th quarter worth approximately $46,000. AlphaQuest LLC bought a new position in shares of AST SpaceMobile during the fourth quarter valued at $67,000. SRS Capital Advisors Inc. boosted its stake in shares of AST SpaceMobile by 554.5% in the 4th quarter. SRS Capital Advisors Inc. now owns 3,482 shares of the company’s stock valued at $73,000 after purchasing an additional 2,950 shares in the last quarter. Sunbelt Securities Inc. grew its holdings in shares of 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 purchasing an additional 3,380 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its position in shares of AST SpaceMobile by 667.1% during the 4th quarter. Jones Financial Companies Lllp now owns 5,454 shares of the company’s stock worth $115,000 after purchasing an additional 4,743 shares in the last quarter. Institutional investors own 60.95% of the company’s stock.

Insider Transactions at AST SpaceMobile

In other news, Director Julio A. Torres sold 20,000 shares of the firm’s 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 transaction, the director now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 41.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ASTS. Scotiabank reaffirmed an “outperform” rating on shares of AST SpaceMobile in a research note on Wednesday, March 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $30.00 price target on shares of AST SpaceMobile in a report on Tuesday, March 4th. Finally, UBS Group boosted their price objective on AST SpaceMobile from $31.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $42.98.

AST SpaceMobile Stock Down 6.7 %

NASDAQ:ASTS opened at $24.06 on Friday. The company has a market cap of $7.61 billion, a price-to-earnings ratio of -11.35 and a beta of 1.62. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80. The stock’s fifty day moving average price is $26.45 and its two-hundred day moving average price is $25.15. AST SpaceMobile, Inc. has a 52-week low of $1.97 and a 52-week high of $39.08.

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.