Colonial River Investments LLC Buys 1,564 Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS)

Colonial River Investments LLC grew its position in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 17.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,618 shares of the company’s stock after purchasing an additional 1,564 shares during the quarter. Colonial River Investments LLC’s holdings in AST SpaceMobile were worth $224,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Hollencrest Capital Management acquired a new position in AST SpaceMobile during the third quarter valued at $26,000. Fairfield Financial Advisors LTD acquired a new position in shares of AST SpaceMobile in the third quarter worth about $26,000. Golden State Wealth Management LLC purchased a new stake in shares of AST SpaceMobile during the fourth quarter worth about $46,000. Rakuten Securities Inc. purchased a new stake in shares of AST SpaceMobile during the third quarter worth about $68,000. Finally, Sunbelt Securities Inc. increased its stake in shares of AST SpaceMobile by 3,380.0% during the third quarter. Sunbelt Securities Inc. now owns 3,480 shares of the company’s stock worth $91,000 after purchasing an additional 3,380 shares in the last quarter. 60.95% of the stock is owned by hedge funds and other institutional investors.

AST SpaceMobile Trading Down 0.2 %

Shares of NASDAQ ASTS opened at $28.57 on Tuesday. AST SpaceMobile, Inc. has a 12-month low of $1.97 and a 12-month high of $39.08. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31. The firm’s 50-day moving average is $23.96 and its two-hundred day moving average is $25.36.

Analysts Set New Price Targets

ASTS has been the subject of several analyst reports. Scotiabank dropped their price target on shares of AST SpaceMobile from $44.70 to $40.20 and set a “sector outperform” rating for the company in a research note on Friday, January 24th. Cantor Fitzgerald started coverage on shares of AST SpaceMobile in a report on Thursday, February 6th. They issued an “overweight” rating and a $30.00 price objective on the stock. Finally, UBS Group raised their price target on shares of AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, AST SpaceMobile presently has an average rating of “Buy” and a consensus target price of $40.04.

About AST SpaceMobile

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.