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

Independent Advisor Alliance acquired a new stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 10,028 shares of the company’s stock, valued at approximately $212,000.

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

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, Director Julio A. Torres sold 20,000 shares of the firm’s stock in a transaction 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 completion of the sale, the director now owns 52,628 shares of the company’s stock, valued at $1,617,258.44. This trade represents a 27.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 41.80% of the company’s stock.

AST SpaceMobile Stock Performance

AST SpaceMobile stock opened at $25.65 on Thursday. AST SpaceMobile, Inc. has a fifty-two week low of $1.97 and a fifty-two week high of $39.08. The firm’s 50 day simple moving average is $25.73 and its 200-day simple moving average is $25.24. 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 market cap of $8.12 billion, a P/E ratio of -12.10 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.