AST SpaceMobile, Inc. (NASDAQ:ASTS) Shares Acquired by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC lifted its holdings in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 16.7% during the 4th quarter, Holdings Channel reports. The firm owned 10,562 shares of the company’s stock after buying an additional 1,508 shares during the period. Axxcess Wealth Management LLC’s holdings in AST SpaceMobile were worth $223,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in ASTS. Victory Capital Management Inc. lifted its position in shares of AST SpaceMobile by 97.4% during the third quarter. Victory Capital Management Inc. now owns 30,680 shares of the company’s stock worth $802,000 after purchasing an additional 15,138 shares in the last quarter. Swiss National Bank acquired a new stake in AST SpaceMobile in the third quarter valued at approximately $6,911,000. Intech Investment Management LLC acquired a new stake in AST SpaceMobile in the third quarter valued at approximately $957,000. Charles Schwab Investment Management Inc. raised its holdings in 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 acquiring an additional 787,566 shares in the last quarter. Finally, Kingsview Wealth Management LLC acquired a new stake in AST SpaceMobile in the third quarter valued at approximately $586,000. Institutional investors and hedge funds own 60.95% of the company’s stock.

AST SpaceMobile Stock Performance

Shares of AST SpaceMobile stock opened at $25.71 on Friday. The firm has a market capitalization of $8.14 billion, a P/E ratio of -12.13 and a beta of 1.62. 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’s 50 day moving average is $25.84 and its two-hundred day moving average is $25.18.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. UBS Group raised their target price on shares of AST SpaceMobile from $31.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $30.00 target price on shares of AST SpaceMobile in a report on Tuesday, March 4th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of AST SpaceMobile in a report on Wednesday, March 5th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $42.98.

Insider Buying and Selling at AST SpaceMobile

In other AST SpaceMobile news, Director Julio A. Torres sold 20,000 shares of the stock in a transaction that occurred on 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 directly owns 52,628 shares in the company, valued at $1,617,258.44. This represents a 27.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 41.80% of the stock is currently owned by insiders.

AST SpaceMobile 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.