Harvest Investment Services LLC Grows Stake in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Harvest Investment Services LLC grew its stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 38.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 69,220 shares of the company's stock after buying an additional 19,128 shares during the quarter. Harvest Investment Services LLC's holdings in AST SpaceMobile were worth $1,461,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Xponance Inc. raised its holdings 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 in the last quarter. CIBC Private Wealth Group LLC boosted its stake in 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 buying an additional 1,222 shares in the last quarter. Americana Partners LLC raised its holdings in shares of 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 in the last quarter. Axxcess Wealth Management LLC raised its stake in shares of AST SpaceMobile by 16.7% in the fourth 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 last quarter. Finally, Colonial River Investments LLC lifted 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 purchasing an additional 1,564 shares in the last quarter. 60.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity at AST SpaceMobile

In related news, Director Julio A. Torres sold 20,000 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $30.73, for a total value of $614,600.00. Following the completion of the sale, the director now owns 52,628 shares in the company, valued at $1,617,258.44. The trade was a 27.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 41.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

AST SpaceMobile Stock Performance

Shares of ASTS traded down $0.31 during mid-day trading on Friday, hitting $23.76. The stock had a trading volume of 7,864,168 shares, compared to its average volume of 12,499,618. The business has a fifty day moving average price of $25.55 and a 200-day moving average price of $24.58. The firm has a market cap of $7.52 billion, a P/E ratio of -11.21 and a beta of 1.81. AST SpaceMobile, Inc. has a 52 week low of $2.12 and a 52 week high of $39.08. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80.

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.