Colonial River Investments LLC Increases Stock Position in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Colonial River Investments LLC raised its stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 17.3% during the fourth quarter, HoldingsChannel reports. The fund owned 10,618 shares of the company’s stock after acquiring an additional 1,564 shares during the quarter. Colonial River Investments LLC’s holdings in AST SpaceMobile were worth $224,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in ASTS. Hollencrest Capital Management bought a new position in shares of AST SpaceMobile in the 3rd quarter worth about $26,000. Fairfield Financial Advisors LTD acquired a new position in AST SpaceMobile during the 3rd quarter valued at about $26,000. Golden State Wealth Management LLC acquired a new position in AST SpaceMobile during the 4th quarter valued at about $46,000. Rakuten Securities Inc. acquired a new position in AST SpaceMobile during the 3rd quarter valued at about $68,000. Finally, Sunbelt Securities Inc. increased its stake in AST SpaceMobile by 3,380.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 3,480 shares of the company’s stock valued at $91,000 after buying an additional 3,380 shares during the period. 60.95% of the stock is currently owned by institutional investors.

AST SpaceMobile Stock Down 0.2 %

AST SpaceMobile stock opened at $28.57 on Tuesday. AST SpaceMobile, Inc. has a 12-month low of $1.97 and a 12-month high of $39.08. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31. The stock has a 50-day simple moving average of $23.96 and a 200 day simple moving average of $25.36.

Wall Street Analyst Weigh In

Several brokerages have commented on ASTS. UBS Group raised their target price on shares of AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Cantor Fitzgerald initiated coverage on shares of AST SpaceMobile in a research report on Thursday, February 6th. They set an “overweight” rating and a $30.00 price objective on the stock. Finally, Scotiabank dropped their price target on shares of AST SpaceMobile from $44.70 to $40.20 and set a “sector outperform” rating on the stock in a research report on Friday, January 24th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, AST SpaceMobile presently has a consensus rating of “Buy” and a consensus target price of $40.04.

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.