ExodusPoint Capital Management LP Boosts Holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS)

ExodusPoint Capital Management LP boosted its holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 237.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 227,566 shares of the company’s stock after purchasing an additional 160,068 shares during the quarter. ExodusPoint Capital Management LP’s holdings in AST SpaceMobile were worth $4,802,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Summit Securities Group LLC bought a new position in shares of AST SpaceMobile during the fourth quarter worth $37,000. Golden State Wealth Management LLC bought a new position in shares of AST SpaceMobile during the 4th quarter valued at about $46,000. CIBC Private Wealth Group LLC grew its position in shares of AST SpaceMobile by 106.3% during 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 in the last quarter. AlphaQuest LLC bought a new stake in shares of AST SpaceMobile in the fourth quarter worth about $67,000. Finally, SRS Capital Advisors Inc. increased its holdings in shares of AST SpaceMobile by 554.5% in the fourth 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 hedge funds and other institutional investors.

AST SpaceMobile Price Performance

Shares of AST SpaceMobile stock opened at $20.07 on Friday. The stock has a market cap of $6.35 billion, a price-to-earnings ratio of -9.47 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. The stock has a 50 day moving average price of $26.49 and a 200-day moving average price of $24.91. AST SpaceMobile, Inc. has a one year low of $1.99 and a one year high of $39.08.

Insider Buying and Selling

In other news, Director Julio A. Torres sold 20,000 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 41.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on ASTS shares. Scotiabank restated an “outperform” rating on shares of AST SpaceMobile in a report on Wednesday, March 5th. Cantor Fitzgerald reissued an “overweight” rating and issued a $30.00 target price on shares of AST SpaceMobile in a report on Tuesday, March 4th. Finally, 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 research report on Wednesday, March 5th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $42.98.

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.