AST SpaceMobile, Inc. (NASDAQ:ASTS) Shares Purchased by Wells Fargo & Company MN

Wells Fargo & Company MN lifted its stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 25.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 117,822 shares of the company's stock after purchasing an additional 23,746 shares during the period. Wells Fargo & Company MN's holdings in AST SpaceMobile were worth $2,486,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in AST SpaceMobile by 235.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 247,781 shares of the company's stock worth $6,479,000 after buying an additional 174,007 shares during the last quarter. Key Colony Management LLC lifted its position in shares of AST SpaceMobile by 44.1% in the fourth quarter. Key Colony Management LLC now owns 196,000 shares of the company's stock valued at $4,136,000 after acquiring an additional 60,000 shares in the last quarter. Lake Hills Wealth Management LLC acquired a new stake in shares of AST SpaceMobile in the fourth quarter worth approximately $374,000. KBC Group NV increased its position in shares of AST SpaceMobile by 63.8% during the fourth quarter. KBC Group NV now owns 6,509 shares of the company's stock worth $137,000 after purchasing an additional 2,536 shares in the last quarter. Finally, MBE Wealth Management LLC increased its position in shares of AST SpaceMobile by 7.0% during the fourth quarter. MBE Wealth Management LLC now owns 39,718 shares of the company's stock worth $838,000 after purchasing an additional 2,602 shares in the last quarter. Hedge funds and other institutional investors own 60.95% of the company's stock.

Analyst Upgrades and Downgrades

ASTS has been the topic of several recent research reports. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $30.00 target price on shares of AST SpaceMobile in a research note on Tuesday, March 4th. Roth Capital began coverage on shares of AST SpaceMobile in a research report on Thursday, April 10th. They set a "buy" rating and a $42.00 price target on the stock. UBS Group upped their price objective on shares of AST SpaceMobile from $31.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. Finally, Scotiabank reissued an "outperform" rating on shares of AST SpaceMobile in a research note on Wednesday, March 5th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $42.82.

Insiders Place Their Bets

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

AST SpaceMobile Trading Up 2.1 %

Shares of ASTS stock traded up $0.49 on Monday, hitting $24.25. 6,498,910 shares of the stock traded hands, compared to its average volume of 12,519,900. AST SpaceMobile, Inc. has a twelve month low of $2.12 and a twelve month high of $39.08. The stock has a market capitalization of $7.67 billion, a PE ratio of -11.44 and a beta of 1.81. The firm's 50-day moving average price is $25.55 and its two-hundred day moving average price is $24.60. 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 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.