Charles Schwab Investment Management Inc. Boosts Holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Charles Schwab Investment Management Inc. raised its holdings in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 11.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,266,713 shares of the company's stock after buying an additional 135,008 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.44% of AST SpaceMobile worth $26,728,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Amalgamated Bank boosted its position in AST SpaceMobile by 17.4% during the third quarter. Amalgamated Bank now owns 4,578 shares of the company's stock worth $120,000 after acquiring an additional 679 shares during the last quarter. Americana Partners LLC lifted its stake in AST SpaceMobile by 5.2% in the 4th quarter. Americana Partners LLC now owns 27,047 shares of the company's stock worth $571,000 after purchasing an additional 1,326 shares in the last quarter. Colonial River Investments LLC boosted its holdings in shares of 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 purchasing an additional 1,564 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of AST SpaceMobile in the fourth quarter valued at approximately $46,000. Finally, KBC Group NV increased its holdings 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 valued at $137,000 after purchasing an additional 2,536 shares during the last quarter. 60.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AST SpaceMobile

In related news, Director Julio A. Torres sold 20,000 shares of the 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 transaction, the director now owns 52,628 shares of the company's stock, valued at approximately $1,617,258.44. This trade represents a 27.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 41.80% of the company's stock.

AST SpaceMobile Trading Up 4.2 %

Shares of NASDAQ:ASTS traded up $1.05 during midday trading on Friday, reaching $25.74. 5,183,060 shares of the company's stock were exchanged, compared to its average volume of 11,944,386. The firm's 50 day simple moving average is $25.78 and its two-hundred day simple moving average is $25.23. AST SpaceMobile, Inc. has a fifty-two week low of $1.97 and a fifty-two 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 stock has a market cap of $8.15 billion, a price-to-earnings ratio of -12.14 and a beta of 1.62.

Analysts Set New Price Targets

Several brokerages have issued reports on ASTS. UBS Group upped their target price on AST SpaceMobile from $31.00 to $38.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. Cantor Fitzgerald reissued an "overweight" rating and issued a $30.00 price objective on shares of AST SpaceMobile in a report on Tuesday, March 4th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of AST SpaceMobile in a research note on Wednesday, March 5th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus 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.