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

Orion Portfolio Solutions LLC acquired a new position in AST SpaceMobile, Inc. (NASDAQ:ASTS) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 12,309 shares of the company’s stock, valued at approximately $260,000.

A number of other hedge funds have also bought and sold shares of the business. FMR LLC lifted its position in shares of AST SpaceMobile by 230.5% during the third quarter. FMR LLC now owns 39,638 shares of the company’s stock worth $1,037,000 after acquiring an additional 27,644 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in AST SpaceMobile in the 3rd quarter worth about $4,819,000. HighTower Advisors LLC grew its holdings in AST SpaceMobile by 30.0% during the 3rd quarter. HighTower Advisors LLC now owns 23,343 shares of the company’s stock valued at $610,000 after buying an additional 5,392 shares in the last quarter. State Street Corp increased its position in shares of AST SpaceMobile by 14.8% during the third quarter. State Street Corp now owns 3,091,577 shares of the company’s stock valued at $80,845,000 after buying an additional 399,713 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of AST SpaceMobile by 9.4% in the third quarter. Geode Capital Management LLC now owns 3,267,066 shares of the company’s stock worth $85,450,000 after buying an additional 281,749 shares in the last quarter. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

AST SpaceMobile Trading Up 18.9 %

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

Analyst Ratings Changes

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

Insider Activity at AST SpaceMobile

In other news, Director Julio A. Torres sold 20,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 52,628 shares in the company, valued at approximately $1,617,258.44. The trade was a 27.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 41.80% of the stock is currently owned by insiders.

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.