Magnetar Financial LLC Takes $1.82 Million Position in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Magnetar Financial LLC purchased a new stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 86,343 shares of the company’s stock, valued at approximately $1,822,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Xponance Inc. raised its stake in shares of AST SpaceMobile by 8.7% during the fourth quarter. Xponance Inc. now owns 9,676 shares of the company’s stock valued at $204,000 after acquiring an additional 772 shares in the last quarter. Americana Partners LLC raised its stake in AST SpaceMobile by 5.2% in the fourth quarter. Americana Partners LLC now owns 27,047 shares of the company’s stock worth $571,000 after buying an additional 1,326 shares in the last quarter. Axxcess Wealth Management LLC raised its stake in AST SpaceMobile by 16.7% in the fourth quarter. Axxcess Wealth Management LLC now owns 10,562 shares of the company’s stock worth $223,000 after buying an additional 1,508 shares in the last quarter. Colonial River Investments LLC raised its stake in AST SpaceMobile by 17.3% in the fourth quarter. Colonial River Investments LLC now owns 10,618 shares of the company’s stock worth $224,000 after buying an additional 1,564 shares in the last quarter. Finally, SouthState Corp raised its stake in AST SpaceMobile by 6.5% in the fourth quarter. SouthState Corp now owns 32,542 shares of the company’s stock worth $687,000 after buying an additional 2,000 shares in the last quarter. Institutional investors own 60.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ASTS shares. 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. Scotiabank reissued an “outperform” rating on shares of AST SpaceMobile in a research note on Wednesday, March 5th. Finally, UBS Group boosted their price objective on shares of AST SpaceMobile from $31.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $42.98.

AST SpaceMobile Stock Performance

Shares of ASTS stock opened at $24.69 on Friday. The business’s fifty day simple moving average is $25.78 and its 200-day simple moving average is $25.23. The company has a market cap of $7.81 billion, a PE ratio of -11.65 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 12-month low of $1.97 and a 12-month high of $39.08.

Insider Transactions at AST SpaceMobile

In other news, Director Julio A. Torres sold 20,000 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $30.73, for a total transaction of $614,600.00. Following the sale, the director now directly owns 52,628 shares of the company’s stock, valued at $1,617,258.44. The trade was a 27.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 41.80% of the company’s stock.

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.