HighTower Advisors LLC raised its position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 221.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 75,118 shares of the company's stock after buying an additional 51,775 shares during the period. HighTower Advisors LLC's holdings in AST SpaceMobile were worth $1,585,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also modified their holdings of ASTS. JPMorgan Chase & Co. increased its position 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 worth $6,479,000 after acquiring an additional 174,007 shares during the period. Charles Schwab Investment Management Inc. raised its position in AST SpaceMobile by 11.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,266,713 shares of the company's stock valued at $26,728,000 after purchasing an additional 135,008 shares in the last quarter. Algert Global LLC purchased a new position in shares of AST SpaceMobile in the 3rd quarter valued at about $768,000. Handelsbanken Fonder AB acquired a new position in shares of AST SpaceMobile during the fourth quarter worth about $755,000. Finally, Van ECK Associates Corp increased its stake in shares of AST SpaceMobile by 150.1% during the fourth quarter. Van ECK Associates Corp now owns 258,747 shares of the company's stock worth $5,460,000 after buying an additional 155,310 shares during the period. 60.95% of the stock is 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 AST SpaceMobile stock in a transaction that occurred 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 sale, the director now directly owns 52,628 shares in the company, valued at $1,617,258.44. The trade was a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 41.80% of the stock is owned by corporate insiders.
AST SpaceMobile Stock Performance
Shares of NASDAQ:ASTS traded down $1.74 during midday trading on Friday, hitting $24.06. The stock had a trading volume of 9,837,700 shares, compared to its average volume of 12,060,573. AST SpaceMobile, Inc. has a 1 year low of $1.97 and a 1 year high of $39.08. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31. The stock has a 50 day moving average price of $26.38 and a two-hundred day moving average price of $25.17. The company has a market capitalization of $7.61 billion, a PE ratio of -11.35 and a beta of 1.62.
Analyst Ratings Changes
A number of brokerages have issued reports on ASTS. UBS Group lifted 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. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $30.00 target price on shares of AST SpaceMobile in a report on Tuesday, March 4th. Finally, Scotiabank reiterated an "outperform" rating on shares of AST SpaceMobile in a research note on Wednesday, March 5th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $42.98.
Read Our Latest Research Report on ASTS
About AST SpaceMobile
(
Free Report)
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.
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