AST SpaceMobile, Inc. (NASDAQ:ASTS) Stake Boosted by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its position in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 57.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 641,678 shares of the company's stock after purchasing an additional 234,517 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.22% of AST SpaceMobile worth $13,539,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Amalgamated Bank lifted its position in AST SpaceMobile by 17.4% during the 3rd quarter. Amalgamated Bank now owns 4,578 shares of the company's stock worth $120,000 after acquiring an additional 679 shares during the period. Americana Partners LLC lifted its position in AST SpaceMobile by 5.2% during the 4th quarter. Americana Partners LLC now owns 27,047 shares of the company's stock worth $571,000 after acquiring an additional 1,326 shares during the period. Colonial River Investments LLC lifted its position in AST SpaceMobile by 17.3% during the 4th quarter. Colonial River Investments LLC now owns 10,618 shares of the company's stock worth $224,000 after acquiring an additional 1,564 shares during the period. Golden State Wealth Management LLC acquired a new stake in AST SpaceMobile during the 4th quarter worth approximately $46,000. Finally, KBC Group NV lifted its position in AST SpaceMobile by 63.8% during the 4th quarter. KBC Group NV now owns 6,509 shares of the company's stock worth $137,000 after acquiring an additional 2,536 shares during the period. 60.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ASTS has been the subject of a number of analyst reports. Cantor Fitzgerald reissued an "overweight" rating and set a $30.00 target price on shares of AST SpaceMobile in a research note on Tuesday, March 4th. Scotiabank reissued an "outperform" rating on shares of AST SpaceMobile in a research note on Wednesday, March 5th. Finally, UBS Group increased their target price on AST SpaceMobile from $31.00 to $38.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $42.98.

Insider Activity at AST SpaceMobile

In other news, Director Julio A. Torres sold 20,000 shares of the business'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 directly owns 52,628 shares in the company, valued at approximately $1,617,258.44. The trade was a 27.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 41.80% of the stock is owned by corporate insiders.

AST SpaceMobile Stock Up 7.8 %

Shares of NASDAQ ASTS traded up $2.03 during midday trading on Friday, reaching $28.15. 8,375,317 shares of the company's stock were exchanged, compared to its average volume of 11,925,417. AST SpaceMobile, Inc. has a 52-week low of $1.97 and a 52-week high of $39.08. The stock has a market capitalization of $8.91 billion, a PE ratio of -13.28 and a beta of 1.62. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80. The business's fifty day moving average price is $25.53 and its two-hundred day moving average price is $25.28.

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.