Guggenheim Capital LLC Boosts Stock Position in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Guggenheim Capital LLC raised its position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 134.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 25,677 shares of the company’s stock after buying an additional 14,732 shares during the quarter. Guggenheim Capital LLC’s holdings in AST SpaceMobile were worth $542,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of ASTS. Summit Securities Group LLC purchased a new stake in AST SpaceMobile during the fourth quarter valued at approximately $37,000. Golden State Wealth Management LLC purchased a new stake in shares of AST SpaceMobile during the 4th quarter valued at $46,000. CIBC Private Wealth Group LLC boosted its position in shares of AST SpaceMobile by 106.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company’s stock worth $53,000 after purchasing an additional 1,222 shares in the last quarter. AlphaQuest LLC purchased a new position in AST SpaceMobile during the 4th quarter worth $67,000. Finally, SRS Capital Advisors Inc. increased its position in AST SpaceMobile by 554.5% during the 4th quarter. SRS Capital Advisors Inc. now owns 3,482 shares of the company’s stock valued at $73,000 after buying an additional 2,950 shares in the last quarter. 60.95% of the stock is currently owned by institutional investors.

AST SpaceMobile Stock Performance

ASTS opened at $23.76 on Friday. The firm has a 50 day moving average of $25.55 and a two-hundred day moving average of $24.58. The firm has a market capitalization of $7.52 billion, a PE ratio of -11.21 and a beta of 1.81. 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 $2.12 and a 12-month high of $39.08.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and set a $30.00 price target on shares of AST SpaceMobile in a research note on Tuesday, March 4th. Roth Capital began coverage on shares of AST SpaceMobile in a research report on Thursday, April 10th. They set a “buy” rating and a $42.00 target price on the stock. UBS Group upped their price target on shares of AST SpaceMobile from $31.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Finally, Scotiabank reiterated an “outperform” rating on shares of AST SpaceMobile in a research note on Wednesday, March 5th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, AST SpaceMobile currently has an average rating of “Buy” and a consensus price target of $42.82.

Insider Buying and Selling

In other AST SpaceMobile news, Director Julio A. Torres sold 20,000 shares of the stock in a transaction dated Monday, March 10th. The stock was 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 approximately $1,617,258.44. This trade represents a 27.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 41.80% of the stock is currently owned by corporate insiders.

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.