Caxton Associates LP Buys New Stake in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Caxton Associates LP purchased a new position in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 45,163 shares of the company's stock, valued at approximately $953,000.

Other hedge funds also recently bought and sold shares of the company. Xponance Inc. raised its stake in shares of AST SpaceMobile by 8.7% in the fourth quarter. Xponance Inc. now owns 9,676 shares of the company's stock worth $204,000 after purchasing an additional 772 shares during the last quarter. CIBC Private Wealth Group LLC raised its position in AST SpaceMobile by 106.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company's stock worth $53,000 after buying an additional 1,222 shares during the last quarter. Americana Partners LLC raised its position in AST SpaceMobile by 5.2% in the 4th quarter. Americana Partners LLC now owns 27,047 shares of the company's stock worth $571,000 after buying an additional 1,326 shares during the last quarter. Axxcess Wealth Management LLC lifted its stake in AST SpaceMobile by 16.7% during the 4th quarter. Axxcess Wealth Management LLC now owns 10,562 shares of the company's stock valued at $223,000 after acquiring an additional 1,508 shares during the period. Finally, Colonial River Investments LLC boosted its holdings in shares of AST SpaceMobile by 17.3% during the 4th quarter. Colonial River Investments LLC now owns 10,618 shares of the company's stock valued at $224,000 after acquiring an additional 1,564 shares during the last quarter. Institutional investors own 60.95% of the company's stock.

Insider Activity at AST SpaceMobile

In related news, Director Julio A. Torres sold 20,000 shares of the company's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $30.73, for a total value of $614,600.00. Following the completion of the transaction, the director now owns 52,628 shares of the company's stock, valued at approximately $1,617,258.44. This represents a 27.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 34.15% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on ASTS. Oppenheimer began coverage on shares of AST SpaceMobile in a research report on Monday, May 5th. They set a "market perform" rating on the stock. Cantor Fitzgerald restated an "overweight" rating and issued a $30.00 price target on shares of AST SpaceMobile in a research note on Tuesday, March 4th. Roth Capital started 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. Scotiabank reissued an "outperform" rating on shares of AST SpaceMobile in a report on Wednesday, March 5th. Finally, UBS Group boosted their price target on AST SpaceMobile from $31.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $42.82.

AST SpaceMobile Stock Performance

NASDAQ:ASTS traded up $0.51 during mid-day trading on Friday, hitting $25.76. 7,670,122 shares of the company traded hands, compared to its average volume of 12,796,838. The stock's fifty day moving average price is $24.88 and its 200-day moving average price is $24.48. 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 one year low of $2.12 and a one year high of $39.08. The firm has a market cap of $8.15 billion, a price-to-earnings ratio of -12.15 and a beta of 2.05.

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.