AST SpaceMobile, Inc. (NASDAQ:ASTS) Stock Position Increased by SouthState Corp

SouthState Corp boosted its position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 6.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,542 shares of the company’s stock after buying an additional 2,000 shares during the quarter. SouthState Corp’s holdings in AST SpaceMobile were worth $687,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Golden State Wealth Management LLC bought a new position in shares of AST SpaceMobile during the 4th quarter valued at about $46,000. AlphaQuest LLC acquired a new stake in AST SpaceMobile during the fourth quarter valued at approximately $67,000. SRS Capital Advisors Inc. boosted its holdings in AST SpaceMobile by 554.5% during 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. 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 worth $91,000 after buying an additional 3,380 shares during the last quarter. Finally, KBC Group NV bought a new position in shares of AST SpaceMobile in the third quarter valued at $104,000. 60.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ASTS. Cantor Fitzgerald reissued an “overweight” rating and set a $30.00 price objective on shares of AST SpaceMobile in a research note on Tuesday, March 4th. UBS Group increased their price target on AST SpaceMobile from $31.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Finally, Scotiabank reissued an “outperform” rating on shares of AST SpaceMobile in a research note on Wednesday, March 5th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, AST SpaceMobile presently has an average rating of “Buy” and an average price target of $42.98.

AST SpaceMobile Stock Performance

Shares of AST SpaceMobile stock opened at $28.02 on Tuesday. AST SpaceMobile, Inc. has a 12 month low of $1.97 and a 12 month high of $39.08. 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 has a market cap of $8.87 billion, a PE ratio of -13.22 and a beta of 1.62. The business has a fifty day simple moving average of $25.61 and a 200-day simple moving average of $25.25.

Insiders Place Their Bets

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 transaction, the director now owns 52,628 shares in the company, valued at $1,617,258.44. This represents a 27.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 41.80% of the company’s stock.

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.