Fox Run Management L.L.C. Takes $751,000 Position in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Fox Run Management L.L.C. bought a new stake in AST SpaceMobile, Inc. (NASDAQ:ASTS) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 35,590 shares of the company’s stock, valued at approximately $751,000.

A number of other institutional investors have also added to or reduced their stakes in ASTS. Victory Capital Management Inc. grew its position in shares of AST SpaceMobile by 97.4% in the 3rd quarter. Victory Capital Management Inc. now owns 30,680 shares of the company’s stock valued at $802,000 after acquiring an additional 15,138 shares during the period. Swiss National Bank bought a new position in AST SpaceMobile during the third quarter worth about $6,911,000. Intech Investment Management LLC bought a new stake in AST SpaceMobile in the third quarter valued at approximately $957,000. Charles Schwab Investment Management Inc. raised its stake in AST SpaceMobile by 228.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,131,705 shares of the company’s stock valued at $29,594,000 after buying an additional 787,566 shares during the period. Finally, Kingsview Wealth Management LLC acquired a new stake in shares of AST SpaceMobile in the third quarter valued at approximately $586,000. 60.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related 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 transaction of $614,600.00. Following the transaction, the director now directly 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 41.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ASTS. Cantor Fitzgerald reissued an “overweight” rating and set a $30.00 target price on shares of AST SpaceMobile in a report on Tuesday, March 4th. Scotiabank reiterated an “outperform” rating on shares of AST SpaceMobile in a report on Wednesday, March 5th. Finally, UBS Group raised their target price on shares of AST SpaceMobile from $31.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, AST SpaceMobile presently has an average rating of “Buy” and an average price target of $42.98.

AST SpaceMobile Stock Performance

ASTS opened at $25.71 on Monday. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80. The company has a market capitalization of $8.14 billion, a PE ratio of -12.13 and a beta of 1.62. The business has a fifty day simple moving average of $25.84 and a 200 day simple moving average of $25.12. AST SpaceMobile, Inc. has a 1 year low of $1.97 and a 1 year high of $39.08.

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.