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

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

Other institutional investors also recently modified their holdings of the company. Amalgamated Bank raised its holdings 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 purchasing an additional 679 shares during the last quarter. State of New Jersey Common Pension Fund D bought a new stake in AST SpaceMobile during the third quarter valued at $1,536,000. Victory Capital Management Inc. grew its stake in AST SpaceMobile by 97.4% during the third quarter. Victory Capital Management Inc. now owns 30,680 shares of the company's stock worth $802,000 after purchasing an additional 15,138 shares during the period. KBC Group NV acquired a new position in AST SpaceMobile in the third quarter valued at approximately $104,000. Finally, Swiss National Bank bought a new position in shares of AST SpaceMobile during the 3rd quarter worth approximately $6,911,000. Institutional investors own 60.95% of the company's stock.

AST SpaceMobile Stock Down 4.1 %

NASDAQ ASTS traded down $1.08 during trading hours on Wednesday, hitting $25.17. The company's stock had a trading volume of 7,684,990 shares, compared to its average volume of 11,901,690. The company has a market capitalization of $7.97 billion, a PE ratio of -11.87 and a beta of 1.62. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31. AST SpaceMobile, Inc. has a 52 week low of $1.97 and a 52 week high of $39.08. The company's 50-day simple moving average is $25.67 and its two-hundred day simple moving average is $25.23.

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Wall Street Analyst Weigh In

A number of equities research analysts have commented on ASTS shares. Cantor Fitzgerald restated an "overweight" rating and issued a $30.00 price target on shares of AST SpaceMobile in a report on Tuesday, March 4th. Scotiabank reaffirmed an "outperform" rating on shares of AST SpaceMobile in a research report on Wednesday, March 5th. Finally, UBS Group increased their price target on AST SpaceMobile from $31.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Five analysts have rated the stock with a buy rating, According to MarketBeat, AST SpaceMobile currently has a consensus rating of "Buy" and a consensus target price of $42.98.

Insider Transactions at AST SpaceMobile

In related news, Director Julio A. Torres sold 20,000 shares of the company's stock in a transaction 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 sale, the director now owns 52,628 shares in the company, valued at approximately $1,617,258.44. This represents a 27.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 41.80% of the company's stock.

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.