Orion Portfolio Solutions LLC Buys New Holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Orion Portfolio Solutions LLC purchased a new position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 12,309 shares of the company’s stock, valued at approximately $260,000.

Other institutional investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC acquired a new position in shares of AST SpaceMobile in the fourth quarter valued at $46,000. AlphaQuest LLC acquired a new stake in shares of AST SpaceMobile in the 4th quarter valued at $67,000. Sunbelt Securities Inc. grew its position in AST SpaceMobile by 3,380.0% in the third quarter. Sunbelt Securities Inc. now owns 3,480 shares of the company’s stock valued at $91,000 after acquiring an additional 3,380 shares during the last quarter. SRS Capital Advisors Inc. grew its holdings in shares of AST SpaceMobile by 554.5% during the 4th quarter. SRS Capital Advisors Inc. now owns 3,482 shares of the company’s stock valued at $73,000 after purchasing an additional 2,950 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its holdings in shares of AST SpaceMobile by 667.1% during the fourth quarter. Jones Financial Companies Lllp now owns 5,454 shares of the company’s stock worth $115,000 after buying an additional 4,743 shares in the last quarter. Institutional investors and hedge funds own 60.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ASTS. UBS Group upped their price objective on AST SpaceMobile from $31.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Cantor Fitzgerald reissued an “overweight” rating and issued a $30.00 price objective 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 investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $42.98.

Insider Activity at AST SpaceMobile

In related news, Director Julio A. Torres sold 20,000 shares of the firm’s 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 transaction, the director now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 41.80% of the stock is owned by insiders.

AST SpaceMobile Price Performance

Shares of NASDAQ ASTS opened at $24.14 on Thursday. The stock has a market cap of $7.64 billion, a price-to-earnings ratio of -11.39 and a beta of 1.81. AST SpaceMobile, Inc. has a fifty-two week low of $1.99 and a fifty-two week high of $39.08. The firm’s 50-day simple moving average is $26.78 and its 200 day simple moving average is $24.74. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80.

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.