Cibc World Markets Corp Acquires New Shares in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Cibc World Markets Corp bought a new position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 12,537 shares of the company’s stock, valued at approximately $265,000.

A number of other large investors have also recently made changes to their positions in the stock. Golden State Wealth Management LLC bought a new stake in shares of AST SpaceMobile during the 4th quarter valued at $46,000. AlphaQuest LLC bought a new stake in shares of AST SpaceMobile during the fourth quarter valued at about $67,000. SRS Capital Advisors Inc. lifted its holdings in shares of 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 buying an additional 2,950 shares in the last quarter. Sunbelt Securities Inc. boosted its position in shares of 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 period. Finally, Jones Financial Companies Lllp grew its stake in AST SpaceMobile by 667.1% during the fourth quarter. Jones Financial Companies Lllp now owns 5,454 shares of the company’s stock valued at $115,000 after acquiring an additional 4,743 shares in the last quarter. 60.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

ASTS has been the topic of several recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 target price on shares of AST SpaceMobile in a research note on Tuesday, March 4th. UBS Group increased their price objective on AST SpaceMobile from $31.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Finally, Scotiabank restated an “outperform” rating on shares of AST SpaceMobile in a research report on Wednesday, March 5th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $42.98.

Insider Activity at AST SpaceMobile

In other news, Director Julio A. Torres sold 20,000 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 52,628 shares in the company, valued at approximately $1,617,258.44. This represents a 27.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 41.80% of the stock is owned by insiders.

AST SpaceMobile Stock Performance

AST SpaceMobile stock opened at $28.55 on Wednesday. AST SpaceMobile, Inc. has a fifty-two week low of $1.97 and a fifty-two week high of $39.08. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80. The stock has a market cap of $9.04 billion, a P/E ratio of -13.47 and a beta of 1.62. The firm’s fifty day moving average price is $26.17 and its 200-day moving average price is $25.15.

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.