Cibc World Markets Corp Purchases Shares of 12,537 AST SpaceMobile, Inc. (NASDAQ:ASTS)

Cibc World Markets Corp bought a new position in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 12,537 shares of the company's stock, valued at approximately $265,000.

A number of other institutional investors have also recently bought and sold shares of ASTS. JPMorgan Chase & Co. raised its stake in shares of AST SpaceMobile by 235.9% during the third quarter. JPMorgan Chase & Co. now owns 247,781 shares of the company's stock valued at $6,479,000 after purchasing an additional 174,007 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in AST SpaceMobile by 11.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,266,713 shares of the company's stock worth $26,728,000 after purchasing an additional 135,008 shares during the last quarter. Algert Global LLC acquired a new stake in shares of AST SpaceMobile during the 3rd quarter valued at approximately $768,000. Handelsbanken Fonder AB acquired a new position in AST SpaceMobile in the fourth quarter worth $755,000. Finally, Van ECK Associates Corp increased its stake in AST SpaceMobile by 150.1% during the fourth quarter. Van ECK Associates Corp now owns 258,747 shares of the company's stock valued at $5,460,000 after purchasing an additional 155,310 shares during the last quarter. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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AST SpaceMobile Stock Performance

Shares of NASDAQ:ASTS traded down $1.74 during trading hours on Friday, hitting $24.06. The stock had a trading volume of 9,837,700 shares, compared to its average volume of 12,092,900. 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 stock's fifty day simple moving average is $26.45 and its 200 day simple moving average is $25.15. The firm has a market capitalization of $7.61 billion, a price-to-earnings ratio of -11.35 and a beta of 1.62. AST SpaceMobile, Inc. has a 1-year low of $1.97 and a 1-year high of $39.08.

Insider Activity at AST SpaceMobile

In other news, Director Julio A. Torres sold 20,000 shares of the stock in a transaction on Monday, March 10th. The stock was 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 owns 52,628 shares of the company's stock, valued at approximately $1,617,258.44. This represents a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 41.80% of the stock is owned by insiders.

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.