Boothbay Fund Management LLC Has $352,000 Position in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Boothbay Fund Management LLC raised its holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 19,742.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,668 shares of the company’s stock after acquiring an additional 16,584 shares during the quarter. Boothbay Fund Management LLC’s holdings in AST SpaceMobile were worth $352,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its stake in shares of AST SpaceMobile by 235.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 247,781 shares of the company’s stock valued at $6,479,000 after purchasing an additional 174,007 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of AST SpaceMobile by 11.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,266,713 shares of the company’s stock worth $26,728,000 after buying an additional 135,008 shares during the last quarter. Handelsbanken Fonder AB bought a new stake in shares of AST SpaceMobile during the 4th quarter worth about $755,000. Wells Fargo & Company MN raised its stake in shares of AST SpaceMobile by 25.2% in the 4th quarter. Wells Fargo & Company MN now owns 117,822 shares of the company’s stock valued at $2,486,000 after acquiring an additional 23,746 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of AST SpaceMobile by 150.1% in the 4th quarter. Van ECK Associates Corp now owns 258,747 shares of the company’s stock valued at $5,460,000 after acquiring an additional 155,310 shares in the last quarter. 60.95% of the stock is owned by institutional investors.

Insider Activity at AST SpaceMobile

In other AST SpaceMobile news, Director Julio A. Torres sold 20,000 shares of the firm’s 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 in the company, valued at approximately $1,617,258.44. This trade represents a 27.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 41.80% of the company’s stock.

AST SpaceMobile Stock Performance

NASDAQ:ASTS opened at $23.02 on Friday. The firm’s 50-day moving average is $25.04 and its 200-day moving average is $24.58. The company has a market cap of $7.29 billion, a price-to-earnings ratio of -10.86 and a beta of 1.81. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80. AST SpaceMobile, Inc. has a 52-week low of $2.12 and a 52-week high of $39.08.

Analysts Set New Price Targets

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

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.