Commonwealth Equity Services LLC Grows Position in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Commonwealth Equity Services LLC grew its stake in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 161.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 78,815 shares of the company’s stock after buying an additional 48,653 shares during the period. Commonwealth Equity Services LLC’s holdings in AST SpaceMobile were worth $1,663,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ASTS. Intech Investment Management LLC purchased a new position in AST SpaceMobile in the 3rd quarter worth $957,000. Charles Schwab Investment Management Inc. increased its holdings in shares of AST SpaceMobile by 228.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,131,705 shares of the company’s stock valued at $29,594,000 after purchasing an additional 787,566 shares during the period. Algert Global LLC purchased a new position in shares of AST SpaceMobile in the third quarter worth about $768,000. The Manufacturers Life Insurance Company lifted its holdings in shares of AST SpaceMobile by 60.9% during the third quarter. The Manufacturers Life Insurance Company now owns 82,400 shares of the company’s stock worth $2,155,000 after purchasing an additional 31,191 shares during the period. Finally, FMR LLC boosted its position in AST SpaceMobile by 230.5% in the third quarter. FMR LLC now owns 39,638 shares of the company’s stock valued at $1,037,000 after buying an additional 27,644 shares during the last quarter. 60.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ASTS has been the subject of several research reports. Cantor Fitzgerald restated an “overweight” rating and set a $30.00 price objective on shares of AST SpaceMobile in a research note on Tuesday, March 4th. Scotiabank restated an “outperform” rating on shares of AST SpaceMobile in a research report on Wednesday, March 5th. Finally, UBS Group increased their price target on AST SpaceMobile from $31.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $42.98.

Insider Activity at AST SpaceMobile

In other news, Director Julio A. Torres sold 20,000 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $30.73, for a total transaction of $614,600.00. Following the sale, the director now directly owns 52,628 shares of the company’s stock, valued at $1,617,258.44. This represents a 27.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 41.80% of the stock is owned by company insiders.

AST SpaceMobile Price Performance

NASDAQ:ASTS opened at $24.06 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80. The company has a 50 day moving average price of $26.45 and a 200-day moving average price of $25.15. AST SpaceMobile, Inc. has a 1-year low of $1.97 and a 1-year high of $39.08. The firm has a market cap of $7.61 billion, a price-to-earnings ratio of -11.35 and a beta of 1.62.

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.