Golden State Wealth Management LLC Purchases Shares of 2,200 AST SpaceMobile, Inc. (NASDAQ:ASTS)

Golden State Wealth Management LLC acquired a new stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 2,200 shares of the company’s stock, valued at approximately $46,000.

A number of other institutional investors and hedge funds have also made changes to their positions in ASTS. JPMorgan Chase & Co. grew its position in AST SpaceMobile by 235.9% during the third quarter. JPMorgan Chase & Co. now owns 247,781 shares of the company’s stock valued at $6,479,000 after acquiring an additional 174,007 shares during the period. Van ECK Associates Corp lifted its stake in shares of AST SpaceMobile by 141.1% in the 3rd quarter. Van ECK Associates Corp now owns 103,437 shares of the company’s stock valued at $2,716,000 after purchasing an additional 60,530 shares in the last quarter. Algert Global LLC purchased a new stake in shares of AST SpaceMobile during the 3rd quarter worth about $768,000. Americana Partners LLC acquired a new stake in AST SpaceMobile during the 3rd quarter worth approximately $673,000. Finally, Oppenheimer & Co. Inc. raised its holdings in AST SpaceMobile by 6.0% in the third quarter. Oppenheimer & Co. Inc. now owns 846,072 shares of the company’s stock valued at $22,125,000 after buying an additional 47,600 shares during the period. 60.95% of the stock is currently owned by institutional investors and hedge funds.

AST SpaceMobile Price Performance

Shares of ASTS stock opened at $28.40 on Wednesday. The firm has a fifty day simple moving average of $22.82 and a 200-day simple moving average of $24.68. The company has a market capitalization of $8.23 billion, a PE ratio of -13.40 and a beta of 1.62. AST SpaceMobile, Inc. has a twelve month low of $1.97 and a twelve month high of $39.08. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Scotiabank decreased their price objective on shares of AST SpaceMobile from $44.70 to $40.20 and set a “sector outperform” rating for the company in a research note on Friday, January 24th. Cantor Fitzgerald started coverage on AST SpaceMobile in a report on Thursday, February 6th. They issued an “overweight” rating and a $30.00 price target for the company. Finally, UBS Group raised their price objective on AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $40.04.

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.