Lake Hills Wealth Management LLC Acquires New Position in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Lake Hills Wealth Management LLC bought a new position in AST SpaceMobile, Inc. (NASDAQ:ASTS) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 17,720 shares of the company’s stock, valued at approximately $374,000.

Other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in AST SpaceMobile by 235.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 247,781 shares of the company’s stock worth $6,479,000 after acquiring an additional 174,007 shares during the period. B. Riley Wealth Advisors Inc. acquired a new stake in shares of AST SpaceMobile in the second quarter valued at about $278,000. Van ECK Associates Corp increased its stake in shares of AST SpaceMobile by 141.1% in the third quarter. Van ECK Associates Corp now owns 103,437 shares of the company’s stock worth $2,716,000 after purchasing an additional 60,530 shares during the period. Algert Global LLC acquired a new position in shares of AST SpaceMobile during the 3rd quarter worth about $768,000. Finally, Americana Partners LLC bought a new stake in AST SpaceMobile during the 3rd quarter valued at approximately $673,000. Institutional investors and hedge funds own 60.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ASTS shares. Scotiabank dropped their price target on AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating on the stock in a research report on Friday, November 15th. UBS Group upped their target price on shares of AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, November 15th.

AST SpaceMobile Trading Down 2.6 %

Shares of ASTS stock opened at $22.49 on Thursday. AST SpaceMobile, Inc. has a 12 month low of $1.97 and a 12 month high of $39.08. The stock has a 50 day moving average of $23.23 and a two-hundred day moving average of $23.70. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31.

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.