Bank of New York Mellon Corp Boosts Stock Position in AST SpaceMobile, Inc. (NASDAQ:ASTS)

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 its most recent filing with the Securities and Exchange Commission. The institutional investor 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 0.22% of AST SpaceMobile worth $13,539,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC lifted its position in AST SpaceMobile by 9.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,267,066 shares of the company's stock worth $85,450,000 after buying an additional 281,749 shares during the last quarter. State Street Corp lifted its holdings in shares of AST SpaceMobile by 14.8% in the 3rd quarter. State Street Corp now owns 3,091,577 shares of the company's stock worth $80,845,000 after acquiring an additional 399,713 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of AST SpaceMobile by 228.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,131,705 shares of the company's stock valued at $29,594,000 after purchasing an additional 787,566 shares in the last quarter. Oppenheimer & Co. Inc. grew its holdings in shares of AST SpaceMobile by 6.0% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 846,072 shares of the company's stock valued at $22,125,000 after purchasing an additional 47,600 shares during the last quarter. Finally, Swiss National Bank bought a new position in shares of AST SpaceMobile during the 3rd quarter valued at $6,911,000. 60.95% of the stock is currently owned by institutional investors.

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Insider Activity

In other AST SpaceMobile news, Director Julio A. Torres sold 20,000 shares of the company's stock in a transaction on 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 in the company, valued at approximately $1,617,258.44. This represents a 27.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 41.80% of the company's stock.

AST SpaceMobile Trading Down 5.2 %

ASTS traded down $1.44 during midday trading on Thursday, reaching $26.12. 8,422,029 shares of the company's stock traded hands, compared to its average volume of 11,875,901. AST SpaceMobile, Inc. has a 52 week low of $1.97 and a 52 week high of $39.08. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80. The firm has a fifty day moving average of $25.44 and a two-hundred day moving average of $25.36. The stock has a market capitalization of $8.27 billion, a price-to-earnings ratio of -12.32 and a beta of 1.62.

Analyst Ratings Changes

Several research firms have recently commented on ASTS. Scotiabank reiterated an "outperform" rating on shares of AST SpaceMobile in a report on Wednesday, March 5th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $30.00 price target on shares of AST SpaceMobile in a research note on Tuesday, March 4th. Finally, UBS Group increased their price objective on AST SpaceMobile from $31.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $42.98.

AST SpaceMobile 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.