AST SpaceMobile, Inc. (NASDAQ:ASTS) Shares Sold by Broad Run Investment Management LLC

Broad Run Investment Management LLC lowered its holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 0.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,773,407 shares of the company's stock after selling 25,679 shares during the quarter. AST SpaceMobile comprises about 10.8% of Broad Run Investment Management LLC's investment portfolio, making the stock its largest position. Broad Run Investment Management LLC owned 1.30% of AST SpaceMobile worth $79,619,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of ASTS. Xponance Inc. raised its position in shares of AST SpaceMobile by 8.7% during the fourth quarter. Xponance Inc. now owns 9,676 shares of the company's stock worth $204,000 after acquiring an additional 772 shares during the last quarter. CIBC Private Wealth Group LLC raised 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 worth $53,000 after acquiring an additional 1,222 shares during the last quarter. Americana Partners LLC raised its position 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 acquiring an additional 1,326 shares during the last quarter. Axxcess Wealth Management LLC raised its position in shares of AST SpaceMobile by 16.7% during the fourth quarter. Axxcess Wealth Management LLC now owns 10,562 shares of the company's stock worth $223,000 after acquiring an additional 1,508 shares during the last quarter. Finally, Colonial River Investments LLC raised its position 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 acquiring an additional 1,564 shares during the last quarter. Institutional investors and hedge funds own 60.95% of the company's stock.

AST SpaceMobile Trading Down 1.4 %

Shares of AST SpaceMobile stock traded down $0.35 during trading hours on Tuesday, hitting $23.90. The company's stock had a trading volume of 3,691,802 shares, compared to its average volume of 12,527,453. AST SpaceMobile, Inc. has a 12 month low of $2.12 and a 12 month high of $39.08. The stock has a 50 day moving average of $25.26 and a 200 day moving average of $24.60. The company has a market capitalization of $7.56 billion, a PE ratio of -11.27 and a beta of 1.81. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80.

Wall Street Analysts Forecast Growth

ASTS has been the subject of a number of recent analyst reports. Scotiabank reiterated an "outperform" rating on shares of AST SpaceMobile in a report on Wednesday, March 5th. UBS Group upped their price objective on AST SpaceMobile from $31.00 to $38.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. Roth Capital initiated coverage on AST SpaceMobile in a report on Thursday, April 10th. They issued a "buy" rating and a $42.00 price objective for the company. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $30.00 price objective on shares of AST SpaceMobile in a report on Tuesday, March 4th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $42.82.

Insiders Place Their Bets

In other news, Director Julio A. Torres sold 20,000 shares of the company's stock in a transaction dated Monday, March 10th. The stock was 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 directly owns 52,628 shares of the company's stock, valued at $1,617,258.44. This represents a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 41.80% of the company's stock.

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.