Lake Hills Wealth Management LLC Acquires Shares of 17,720 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 its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 17,720 shares of the company’s stock, valued at approximately $374,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Victory Capital Management Inc. lifted its holdings in AST SpaceMobile by 5.5% during the 2nd quarter. Victory Capital Management Inc. now owns 15,542 shares of the company’s stock valued at $180,000 after purchasing an additional 814 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of AST SpaceMobile in the second quarter valued at approximately $4,757,000. Sei Investments Co. acquired a new position in shares of AST SpaceMobile in the 2nd quarter worth approximately $728,000. Marshall Wace LLP grew its position in AST SpaceMobile by 150.4% during the 2nd quarter. Marshall Wace LLP now owns 126,685 shares of the company’s stock worth $1,471,000 after acquiring an additional 76,088 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in AST SpaceMobile by 31.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 51,209 shares of the company’s stock valued at $595,000 after purchasing an additional 12,391 shares in the last quarter. Institutional investors own 60.95% of the company’s stock.

AST SpaceMobile Stock Performance

ASTS stock opened at $22.49 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80. AST SpaceMobile, Inc. has a twelve month low of $1.97 and a twelve month high of $39.08. The business has a fifty day moving average of $23.23 and a 200-day moving average of $23.70.

Analyst Ratings Changes

A number of equities analysts have commented on ASTS shares. UBS Group boosted their price objective on AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Scotiabank decreased their price objective on shares of AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating on the stock in a report on Friday, November 15th.

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.