AST SpaceMobile, Inc. (NASDAQ:ASTS) Shares Bought by Guggenheim Capital LLC

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

Other hedge funds have also modified their holdings of the company. Summit Securities Group LLC purchased a new position in shares of AST SpaceMobile in the 4th quarter valued at about $37,000. Golden State Wealth Management LLC acquired a new stake in AST SpaceMobile in the fourth quarter valued at approximately $46,000. CIBC Private Wealth Group LLC increased its position in shares of 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 buying an additional 1,222 shares in the last quarter. AlphaQuest LLC acquired a new position in shares of AST SpaceMobile during the 4th quarter worth approximately $67,000. Finally, SRS Capital Advisors Inc. raised its stake in shares of 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 buying an additional 2,950 shares during the period. 60.95% of the stock is owned by hedge funds and other institutional investors.

AST SpaceMobile Stock Performance

ASTS opened at $23.76 on Friday. AST SpaceMobile, Inc. has a twelve month low of $2.12 and a twelve month high of $39.08. 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. The firm’s 50-day moving average price is $25.55 and its 200 day moving average price is $24.58.

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, Director Julio A. Torres sold 20,000 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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.