Intech Investment Management LLC Raises Stock Position in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Intech Investment Management LLC raised its stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 68.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,711 shares of the company's stock after purchasing an additional 25,111 shares during the quarter. Intech Investment Management LLC's holdings in AST SpaceMobile were worth $1,302,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Golden State Wealth Management LLC acquired a new position in shares of AST SpaceMobile in the 4th quarter valued at $46,000. AlphaQuest LLC acquired a new position in shares of AST SpaceMobile in the fourth quarter valued at about $67,000. Sunbelt Securities Inc. raised its stake in shares of AST SpaceMobile by 3,380.0% in the third quarter. Sunbelt Securities Inc. now owns 3,480 shares of the company's stock worth $91,000 after purchasing an additional 3,380 shares during the last quarter. SRS Capital Advisors Inc. lifted its holdings in shares of AST SpaceMobile by 554.5% during the fourth quarter. SRS Capital Advisors Inc. now owns 3,482 shares of the company's stock worth $73,000 after purchasing an additional 2,950 shares during the period. Finally, KBC Group NV purchased a new stake in AST SpaceMobile in the third quarter valued at approximately $104,000. Hedge funds and other institutional investors own 60.95% of the company's stock.

AST SpaceMobile Stock Performance

Shares of ASTS traded down $0.75 during trading hours on Tuesday, hitting $28.55. The stock had a trading volume of 5,189,581 shares, compared to its average volume of 12,128,897. The firm has a 50-day moving average price of $26.01 and a 200 day moving average price of $25.13. AST SpaceMobile, Inc. has a fifty-two week low of $1.97 and a fifty-two week high of $39.08. The firm has a market capitalization of $9.04 billion, a price-to-earnings ratio of -13.47 and a beta of 1.62. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80.

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Insider Buying and Selling at AST SpaceMobile

In other news, Director Julio A. Torres sold 20,000 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $30.73, for a total transaction of $614,600.00. Following the sale, the director now directly owns 52,628 shares in the company, valued at $1,617,258.44. This trade represents a 27.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 41.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

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.