Hsbc Holdings PLC Reduces Position in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Hsbc Holdings PLC trimmed its position in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 8.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,582 shares of the company’s stock after selling 1,353 shares during the quarter. Hsbc Holdings PLC’s holdings in AST SpaceMobile were worth $333,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ASTS. Xponance Inc. increased its position in shares of AST SpaceMobile by 8.7% in the fourth quarter. Xponance Inc. now owns 9,676 shares of the company’s stock valued at $204,000 after acquiring an additional 772 shares during the period. CIBC Private Wealth Group LLC grew its stake in shares of AST SpaceMobile by 106.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company’s stock worth $53,000 after purchasing an additional 1,222 shares during the last quarter. Americana Partners LLC increased its holdings in AST SpaceMobile by 5.2% during the 4th quarter. Americana Partners LLC now owns 27,047 shares of the company’s stock valued at $571,000 after purchasing an additional 1,326 shares during the period. Axxcess Wealth Management LLC raised its position in AST SpaceMobile by 16.7% during the 4th quarter. Axxcess Wealth Management LLC now owns 10,562 shares of the company’s stock valued at $223,000 after purchasing an additional 1,508 shares during the last quarter. Finally, Colonial River Investments LLC lifted its holdings in AST SpaceMobile by 17.3% in the 4th quarter. Colonial River Investments LLC now owns 10,618 shares of the company’s stock worth $224,000 after buying an additional 1,564 shares during the period. 60.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling at AST SpaceMobile

In related news, Director Julio A. Torres sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $30.73, for a total transaction of $614,600.00. Following the completion of the transaction, the director now owns 52,628 shares of the company’s stock, valued at $1,617,258.44. This trade represents a 27.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 41.80% of the company’s stock.

Wall Street Analysts Forecast Growth

ASTS has been the topic of several research analyst reports. Oppenheimer started coverage on AST SpaceMobile in a report on Monday. They set a “market perform” rating for the company. Scotiabank restated an “outperform” rating on shares of AST SpaceMobile in a report on Wednesday, March 5th. Roth Capital started coverage on shares of AST SpaceMobile in a research note on Thursday, April 10th. They set a “buy” rating and a $42.00 target price on the stock. UBS Group increased their price target 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. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $30.00 price objective on shares of AST SpaceMobile in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $42.82.

AST SpaceMobile Trading Down 0.2 %

Shares of NASDAQ ASTS opened at $25.27 on Friday. The stock has a market cap of $8.00 billion, a P/E ratio of -11.92 and a beta of 2.05. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80. AST SpaceMobile, Inc. has a 1 year low of $2.12 and a 1 year high of $39.08. The firm has a 50-day moving average of $24.94 and a 200 day moving average of $24.51.

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.