Independent Advisor Alliance Invests $212,000 in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Independent Advisor Alliance bought a new stake in AST SpaceMobile, Inc. (NASDAQ:ASTS) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 10,028 shares of the company’s stock, valued at approximately $212,000.

Several other large investors have also modified their holdings of the stock. Golden State Wealth Management LLC bought a new stake in AST SpaceMobile in the fourth quarter valued at about $46,000. AlphaQuest LLC bought a new stake in shares of AST SpaceMobile in the 4th quarter valued at approximately $67,000. Sunbelt Securities Inc. raised its position in shares of AST SpaceMobile by 3,380.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 3,480 shares of the company’s stock valued at $91,000 after acquiring an additional 3,380 shares in the last quarter. SRS Capital Advisors Inc. lifted its stake in AST SpaceMobile by 554.5% during the fourth quarter. SRS Capital Advisors Inc. now owns 3,482 shares of the company’s stock worth $73,000 after purchasing an additional 2,950 shares during the last quarter. Finally, KBC Group NV acquired a new position in AST SpaceMobile in the third quarter worth $104,000. Institutional investors own 60.95% of the company’s stock.

Analyst Ratings Changes

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

AST SpaceMobile Trading Down 2.3 %

AST SpaceMobile stock opened at $25.65 on Thursday. AST SpaceMobile, Inc. has a 52-week low of $1.97 and a 52-week high of $39.08. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $8.12 billion, a price-to-earnings ratio of -12.10 and a beta of 1.62. The firm has a 50-day moving average price of $25.73 and a two-hundred day moving average price of $25.24.

Insider Activity

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 stock was sold at an average price of $30.73, for a total value of $614,600.00. Following the sale, the director now directly owns 52,628 shares in the company, valued at $1,617,258.44. This trade represents a 27.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 41.80% of the company’s stock.

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.