AST SpaceMobile, Inc. (NASDAQ:ASTS) Shares Sold by Allworth Financial LP

Allworth Financial LP cut its position in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 61.8% during the 4th quarter, HoldingsChannel reports. The firm owned 3,520 shares of the company’s stock after selling 5,688 shares during the quarter. Allworth Financial LP’s holdings in AST SpaceMobile were worth $79,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ASTS. Fairfield Financial Advisors LTD acquired a new stake in AST SpaceMobile in the 3rd quarter valued at approximately $26,000. Hollencrest Capital Management bought a new stake in shares of AST SpaceMobile during the third quarter valued at about $26,000. Golden State Wealth Management LLC acquired a new stake in AST SpaceMobile in the fourth quarter worth about $46,000. Rakuten Securities Inc. bought a new position in AST SpaceMobile in the 3rd quarter valued at about $68,000. Finally, Sunbelt Securities Inc. lifted its stake 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 worth $91,000 after acquiring an additional 3,380 shares during the period. 60.95% of the stock is owned by institutional investors and hedge funds.

AST SpaceMobile Stock Down 0.2 %

NASDAQ:ASTS opened at $28.57 on Tuesday. The business’s fifty day moving average price is $23.96 and its 200 day moving average price is $25.36. The firm has a market capitalization of $8.28 billion, a price-to-earnings ratio of -13.48 and a beta of 1.62. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31. AST SpaceMobile, Inc. has a 1-year low of $1.97 and a 1-year high of $39.08.

Analysts Set New Price Targets

ASTS has been the topic of several recent analyst reports. Cantor Fitzgerald began coverage on AST SpaceMobile in a report on Thursday, February 6th. They set an “overweight” rating and a $30.00 target price on the stock. Scotiabank cut their target price on AST SpaceMobile from $44.70 to $40.20 and set a “sector outperform” rating on the stock in a research report on Friday, January 24th. Finally, UBS Group lifted their price target on AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $40.04.

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.