Axxcess Wealth Management LLC Grows Position in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Axxcess Wealth Management LLC raised its holdings in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 16.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,562 shares of the company’s stock after buying an additional 1,508 shares during the quarter. Axxcess Wealth Management LLC’s holdings in AST SpaceMobile were worth $223,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Americana Partners LLC grew its holdings in shares of AST SpaceMobile by 5.2% during the fourth quarter. Americana Partners LLC now owns 27,047 shares of the company’s stock worth $571,000 after buying an additional 1,326 shares in the last quarter. Colonial River Investments LLC grew its holdings in shares of AST SpaceMobile by 17.3% during the fourth quarter. Colonial River Investments LLC now owns 10,618 shares of the company’s stock worth $224,000 after buying an additional 1,564 shares in the last quarter. SouthState Corp grew its holdings in shares of AST SpaceMobile by 6.5% during the fourth quarter. SouthState Corp now owns 32,542 shares of the company’s stock worth $687,000 after buying an additional 2,000 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of AST SpaceMobile in the fourth quarter valued at about $46,000. Finally, KBC Group NV grew its holdings in shares of AST SpaceMobile by 63.8% in the fourth quarter. KBC Group NV now owns 6,509 shares of the company’s stock valued at $137,000 after purchasing an additional 2,536 shares during the period. Hedge funds and other institutional investors own 60.95% of the company’s stock.

AST SpaceMobile Trading Up 4.1 %

Shares of ASTS stock opened at $25.71 on Friday. 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 firm has a market cap of $8.14 billion, a PE ratio of -12.13 and a beta of 1.62. The company has a 50-day moving average of $25.84 and a two-hundred day moving average of $25.18. AST SpaceMobile, Inc. has a 1-year low of $1.97 and a 1-year high of $39.08.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ASTS. Cantor Fitzgerald reissued an “overweight” rating and issued a $30.00 price objective on shares of AST SpaceMobile in a report on Tuesday, March 4th. Scotiabank reissued an “outperform” rating on shares of AST SpaceMobile in a report on Wednesday, March 5th. Finally, UBS Group upped their price objective on shares of AST SpaceMobile from $31.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $42.98.

Insiders Place Their Bets

In other AST SpaceMobile news, Director Julio A. Torres sold 20,000 shares of the 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 completion of the transaction, the director now owns 52,628 shares of the company’s stock, 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 filing with the SEC, which is available through the SEC website. 41.80% of the stock is currently owned by insiders.

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.