AST SpaceMobile, Inc. (NASDAQ:ASTS) Shares Purchased by K2 Principal Fund L.P.

K2 Principal Fund L.P. grew its position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 147.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,000 shares of the company’s stock after purchasing an additional 13,127 shares during the period. K2 Principal Fund L.P.’s holdings in AST SpaceMobile were worth $464,000 as of its most recent SEC filing.

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

AST SpaceMobile Stock Up 2.0 %

Shares of AST SpaceMobile stock opened at $25.76 on Friday. The stock has a market capitalization of $8.15 billion, a price-to-earnings ratio of -12.15 and a beta of 2.05. AST SpaceMobile, Inc. has a twelve month low of $2.12 and a twelve month high of $39.08. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31. The business’s 50 day simple moving average is $24.88 and its 200-day simple moving average is $24.48.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ASTS. Oppenheimer began coverage on shares of AST SpaceMobile in a research report on Monday, May 5th. They set a “market perform” rating for the company. Roth Capital assumed coverage on shares of AST SpaceMobile in a research report on Thursday, April 10th. They issued a “buy” rating and a $42.00 target price for the company. UBS Group upped their target price 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. Scotiabank reissued an “outperform” rating on shares of AST SpaceMobile in a report on Wednesday, March 5th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $30.00 target price on shares of AST SpaceMobile in a report on Tuesday, March 4th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.82.

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 shares were sold at an average price of $30.73, for a total transaction of $614,600.00. Following the completion of the transaction, the director now owns 52,628 shares in the company, valued at approximately $1,617,258.44. This represents a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 34.15% of the stock is 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.