Fox Hill Wealth Management Boosts Stake in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Fox Hill Wealth Management grew its stake in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 47.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,893 shares of the company’s stock after buying an additional 5,473 shares during the period. Fox Hill Wealth Management’s holdings in AST SpaceMobile were worth $356,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Golden State Wealth Management LLC purchased a new position in shares of AST SpaceMobile in the fourth quarter worth $46,000. AlphaQuest LLC purchased a new position in shares of AST SpaceMobile during the fourth quarter worth $67,000. SRS Capital Advisors Inc. raised its holdings in shares of AST SpaceMobile by 554.5% during 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. Sunbelt Securities Inc. raised its holdings in shares of AST SpaceMobile by 3,380.0% during the third quarter. Sunbelt Securities Inc. now owns 3,480 shares of the company’s stock worth $91,000 after purchasing an additional 3,380 shares during the last quarter. Finally, KBC Group NV purchased a new position in shares of AST SpaceMobile during the third quarter worth $104,000. Hedge funds and other institutional investors own 60.95% of the company’s stock.

AST SpaceMobile Stock Down 6.3 %

Shares of NASDAQ ASTS opened at $26.25 on Wednesday. The company’s 50-day simple moving average is $25.67 and its 200-day simple moving average is $25.23. AST SpaceMobile, Inc. has a 52-week low of $1.97 and a 52-week high of $39.08. The firm has a market cap of $8.31 billion, a price-to-earnings ratio of -12.38 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.

Analyst Upgrades and Downgrades

ASTS has been the subject of several recent research reports. Scotiabank reissued an “outperform” rating on shares of AST SpaceMobile in a report on Wednesday, March 5th. UBS Group raised their price target on shares of AST SpaceMobile from $31.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $30.00 price target on shares of AST SpaceMobile in a research report on Tuesday, March 4th. Five equities 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 $42.98.

Insider Activity

In other news, Director Julio A. Torres sold 20,000 shares of AST SpaceMobile 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 sale, the director now owns 52,628 shares in the company, valued at $1,617,258.44. This trade represents a 27.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 41.80% of the company’s stock.

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.