NewEdge Advisors LLC lowered its position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 75.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,130 shares of the company's stock after selling 106,275 shares during the period. NewEdge Advisors LLC's holdings in AST SpaceMobile were worth $720,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. increased its stake in AST SpaceMobile by 235.9% during 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 period. Key Colony Management LLC grew its stake in shares of AST SpaceMobile by 44.1% during 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 purchased a new stake in shares of AST SpaceMobile during the fourth quarter worth about $374,000. KBC Group NV lifted its stake in shares of AST SpaceMobile by 63.8% in the fourth quarter. KBC Group NV now owns 6,509 shares of the company's stock worth $137,000 after acquiring an additional 2,536 shares in the last quarter. Finally, MBE Wealth Management LLC boosted its holdings in AST SpaceMobile by 7.0% in the fourth quarter. MBE Wealth Management LLC now owns 39,718 shares of the company's stock valued at $838,000 after purchasing an additional 2,602 shares during the last quarter. 60.95% of the stock is owned by institutional investors and hedge funds.
AST SpaceMobile Stock Performance
ASTS stock opened at $23.76 on Friday. The stock's 50 day simple moving average is $25.55 and its 200 day simple moving average is $24.59. AST SpaceMobile, Inc. has a 12-month low of $2.12 and a 12-month high of $39.08. The firm has a market cap of $7.52 billion, a P/E ratio of -11.21 and a beta of 1.81. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31.
Insider Buying and Selling at AST SpaceMobile
In other news, Director Julio A. Torres sold 20,000 shares of AST SpaceMobile stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $30.73, for a total value of $614,600.00. Following the completion of the transaction, the director now directly owns 52,628 shares of the company's stock, valued at approximately $1,617,258.44. The trade was a 27.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 41.80% of the stock is owned by insiders.
Analyst Ratings Changes
ASTS has been the topic of several analyst reports. Cantor Fitzgerald restated an "overweight" rating and set a $30.00 price objective on shares of AST SpaceMobile in a report on Tuesday, March 4th. Scotiabank restated an "outperform" rating on shares of AST SpaceMobile in a research note on Wednesday, March 5th. UBS Group upped their price target on shares of AST SpaceMobile from $31.00 to $38.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. Finally, Roth Capital assumed coverage on shares of AST SpaceMobile in a report on Thursday, April 10th. They set a "buy" rating and a $42.00 price objective for the company. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $42.82.
View Our Latest Report on ASTS
About AST SpaceMobile
(
Free Report)
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.
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