AST SpaceMobile, Inc. (NASDAQ:ASTS) is Key Colony Management LLC’s 5th Largest Position

Key Colony Management LLC grew its holdings in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 44.1% during the fourth quarter, HoldingsChannel reports. The firm owned 196,000 shares of the company’s stock after purchasing an additional 60,000 shares during the quarter. AST SpaceMobile accounts for approximately 6.2% of Key Colony Management LLC’s investment portfolio, making the stock its 5th largest holding. Key Colony Management LLC’s holdings in AST SpaceMobile were worth $4,136,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Fairfield Financial Advisors LTD acquired a new position in AST SpaceMobile during the third quarter worth approximately $26,000. Hollencrest Capital Management purchased a new stake in shares of AST SpaceMobile during the 3rd quarter valued at $26,000. Rakuten Securities Inc. acquired a new stake in shares of AST SpaceMobile during the 3rd quarter worth $68,000. Sunbelt Securities Inc. increased its holdings in shares of AST SpaceMobile by 3,380.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 3,480 shares of the company’s stock worth $91,000 after buying an additional 3,380 shares during the last quarter. Finally, KBC Group NV purchased a new position in shares of AST SpaceMobile in the 3rd quarter worth $104,000. Institutional investors and hedge funds own 60.95% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. UBS Group boosted their price target on AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Scotiabank decreased their target price on AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating for the company in a report on Friday, November 15th.

AST SpaceMobile Stock Performance

NASDAQ:ASTS opened at $20.48 on Wednesday. The firm’s fifty day simple moving average is $23.50 and its 200 day simple moving average is $23.35. 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, Inc. has a twelve month low of $1.97 and a twelve month high of $39.08. The firm has a market capitalization of $5.93 billion, a price-to-earnings ratio of -9.66 and a beta of 1.64.

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.