Golden State Wealth Management LLC Makes New Investment in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Golden State Wealth Management LLC purchased a new stake in AST SpaceMobile, Inc. (NASDAQ:ASTS) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,200 shares of the company’s stock, valued at approximately $46,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fairfield Financial Advisors LTD acquired a new stake in AST SpaceMobile in the 3rd quarter valued at about $26,000. Hollencrest Capital Management purchased a new stake in shares of AST SpaceMobile in the third quarter valued at about $26,000. Rakuten Securities Inc. acquired a new stake in shares of AST SpaceMobile in the third quarter valued at approximately $68,000. Sunbelt Securities Inc. increased its stake in shares of AST SpaceMobile by 3,380.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 3,480 shares of the company’s stock worth $91,000 after purchasing an additional 3,380 shares in the last quarter. Finally, KBC Group NV acquired a new position in shares of AST SpaceMobile during the 3rd quarter worth approximately $104,000. Institutional investors and hedge funds own 60.95% of the company’s stock.

AST SpaceMobile Trading Down 8.8 %

Shares of AST SpaceMobile stock opened at $28.40 on Wednesday. The firm has a market cap of $8.23 billion, a PE ratio of -13.40 and a beta of 1.62. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31. AST SpaceMobile, Inc. has a fifty-two week low of $1.97 and a fifty-two week high of $39.08. The business’s fifty day moving average is $22.82 and its two-hundred day moving average is $24.68.

Wall Street Analyst Weigh In

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