Fox Run Management L.L.C. Buys Shares of 35,590 AST SpaceMobile, Inc. (NASDAQ:ASTS)

Fox Run Management L.L.C. bought a new position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 35,590 shares of the company’s stock, valued at approximately $751,000.

Several other institutional investors also recently modified their holdings of the stock. Golden State Wealth Management LLC bought a new position in AST SpaceMobile during the 4th quarter worth approximately $46,000. AlphaQuest LLC acquired a new stake in AST SpaceMobile in the fourth quarter worth $67,000. SRS Capital Advisors Inc. boosted its position in shares of 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 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 valued at $91,000 after buying an additional 3,380 shares during the period. Finally, Jones Financial Companies Lllp increased its position in shares of AST SpaceMobile by 667.1% in the 4th quarter. Jones Financial Companies Lllp now owns 5,454 shares of the company’s stock valued at $115,000 after buying an additional 4,743 shares in the last quarter. 60.95% of the stock is currently owned by institutional investors and hedge funds.

AST SpaceMobile Stock Up 4.1 %

ASTS stock opened at $25.71 on Monday. 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 stock 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 fifty-two week low of $1.97 and a fifty-two week high of $39.08. The business has a 50-day moving average of $25.84 and a 200-day moving average of $25.12.

Insiders Place Their Bets

In other news, Director Julio A. Torres sold 20,000 shares of the business’s stock in a transaction 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 sale, the director now owns 52,628 shares of the company’s stock, valued at $1,617,258.44. The trade was a 27.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 41.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. UBS Group lifted their target price on AST SpaceMobile from $31.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Cantor Fitzgerald reissued an “overweight” rating and set a $30.00 target price on shares of AST SpaceMobile in a research note on Tuesday, March 4th. Finally, Scotiabank restated 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, Based on data from MarketBeat.com, AST SpaceMobile has an average rating of “Buy” and an average target price of $42.98.

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.