Lido Advisors LLC Invests $370,000 in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Lido Advisors LLC purchased a new position in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 17,515 shares of the company's stock, valued at approximately $370,000.

Other institutional investors have also modified their holdings of the company. Summit Securities Group LLC purchased a new stake in AST SpaceMobile in the fourth quarter valued at $37,000. Golden State Wealth Management LLC acquired a new stake in shares of AST SpaceMobile during the fourth quarter worth about $46,000. CIBC Private Wealth Group LLC boosted its stake 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 buying an additional 1,222 shares during the period. AlphaQuest LLC acquired a new stake in shares of AST SpaceMobile during the fourth quarter worth about $67,000. Finally, SRS Capital Advisors Inc. boosted its stake 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 buying an additional 2,950 shares during the period. Institutional investors and hedge funds own 60.95% of the company's stock.

AST SpaceMobile Trading Up 2.0%

Shares of ASTS traded up $0.51 during mid-day trading on Friday, reaching $25.76. The company had a trading volume of 7,670,122 shares, compared to its average volume of 12,796,838. The stock has a market cap of $8.15 billion, a price-to-earnings ratio of -12.15 and a beta of 2.05. The firm has a fifty day simple moving average of $24.88 and a 200-day simple moving average of $24.48. AST SpaceMobile, Inc. has a fifty-two week low of $2.12 and a fifty-two week high of $39.08. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31.

Insider Buying and Selling 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 transaction of $614,600.00. Following the completion of the sale, the director now directly 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 34.15% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ASTS shares. Oppenheimer initiated coverage on shares of AST SpaceMobile in a research note on Monday, May 5th. They set a "market perform" rating for the company. Scotiabank reaffirmed an "outperform" rating on shares of AST SpaceMobile in a report on Wednesday, March 5th. UBS Group raised their price objective on shares of AST SpaceMobile from $31.00 to $38.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Cantor Fitzgerald reissued an "overweight" rating and set a $30.00 price objective on shares of AST SpaceMobile in a research note on Tuesday, March 4th. Finally, Roth Capital initiated coverage on shares of AST SpaceMobile in a research report on Thursday, April 10th. They set a "buy" rating and a $42.00 target price on the stock. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $42.82.

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.