SG Americas Securities LLC Takes Position in AST SpaceMobile, Inc. (NASDAQ:ASTS)

SG Americas Securities LLC purchased a new stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 19,075 shares of the company’s stock, valued at approximately $115,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. UBS Group AG raised its holdings in AST SpaceMobile by 45.3% during the first quarter. UBS Group AG now owns 4,222 shares of the company’s stock worth $42,000 after purchasing an additional 1,316 shares in the last quarter. Royal Bank of Canada raised its holdings in AST SpaceMobile by 357.3% during the third quarter. Royal Bank of Canada now owns 3,576 shares of the company’s stock worth $26,000 after purchasing an additional 2,794 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in AST SpaceMobile by 120.6% during the third quarter. Tower Research Capital LLC TRC now owns 7,128 shares of the company’s stock worth $27,000 after purchasing an additional 3,897 shares in the last quarter. Stifel Financial Corp raised its holdings in AST SpaceMobile by 1.9% during the third quarter. Stifel Financial Corp now owns 251,900 shares of the company’s stock worth $957,000 after purchasing an additional 4,744 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in AST SpaceMobile by 19.5% during the third quarter. The Manufacturers Life Insurance Company now owns 29,631 shares of the company’s stock worth $113,000 after purchasing an additional 4,844 shares in the last quarter. Institutional investors own 60.95% of the company’s stock.

AST SpaceMobile Trading Up 4.4 %

AST SpaceMobile stock opened at $2.14 on Friday. AST SpaceMobile, Inc. has a 1 year low of $1.97 and a 1 year high of $7.10. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.31 and a current ratio of 2.31. The firm has a market cap of $547.93 million, a price-to-earnings ratio of -2.04 and a beta of 0.87. The firm’s 50 day moving average price is $2.84 and its two-hundred day moving average price is $3.72.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ASTS shares. Scotiabank dropped their target price on AST SpaceMobile from $7.50 to $7.40 and set a “sector outperform” rating on the stock in a report on Tuesday, April 2nd. Deutsche Bank Aktiengesellschaft decreased their price target on shares of AST SpaceMobile from $23.00 to $19.00 and set a “buy” rating on the stock in a research report on Wednesday, April 3rd. Finally, UBS Group initiated coverage on shares of AST SpaceMobile in a research report on Friday, March 8th. They issued a “buy” rating and a $7.00 price target on the stock.

AST SpaceMobile Profile

AST SpaceMobile, Inc, together with its subsidiaries, operates space-based cellular broadband network for mobile phones in the United States. Its SpaceMobile service provides mobile broadband services to end-users who are out of terrestrial cellular coverage. AST SpaceMobile, Inc was founded in 2017 and is based in Midland, Texas.