AST SpaceMobile, Inc. (NASDAQ:ASTS) Shares Purchased by IPG Investment Advisors LLC

IPG Investment Advisors LLC lifted its position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 217.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 66,250 shares of the company's stock after acquiring an additional 45,375 shares during the period. IPG Investment Advisors LLC's holdings in AST SpaceMobile were worth $1,398,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its holdings in shares of AST SpaceMobile by 228.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,131,705 shares of the company's stock worth $29,594,000 after purchasing an additional 787,566 shares during the period. Algert Global LLC bought a new stake in shares of AST SpaceMobile during the 3rd quarter valued at about $768,000. The Manufacturers Life Insurance Company raised its stake in AST SpaceMobile by 60.9% during the third quarter. The Manufacturers Life Insurance Company now owns 82,400 shares of the company's stock worth $2,155,000 after acquiring an additional 31,191 shares during the period. FMR LLC raised its stake in AST SpaceMobile by 230.5% during the third quarter. FMR LLC now owns 39,638 shares of the company's stock worth $1,037,000 after acquiring an additional 27,644 shares during the period. Finally, MetLife Investment Management LLC lifted its holdings in AST SpaceMobile by 12.4% in the third quarter. MetLife Investment Management LLC now owns 76,302 shares of the company's stock worth $1,995,000 after acquiring an additional 8,441 shares during the last quarter. 60.95% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

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

Insider Activity

In related news, Director Julio A. Torres sold 20,000 shares of the stock in a transaction dated Monday, March 10th. The shares were 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 in the company, valued at $1,617,258.44. This represents a 27.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 41.80% of the company's stock.

AST SpaceMobile Stock Performance

ASTS traded up $0.90 during trading hours on Wednesday, hitting $22.75. The company's stock had a trading volume of 5,321,002 shares, compared to its average volume of 12,057,208. The company has a 50-day simple moving average of $26.46 and a 200 day simple moving average of $25.04. 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 firm has a market capitalization of $7.20 billion, a PE ratio of -10.73 and a beta of 1.62. AST SpaceMobile, Inc. has a fifty-two week low of $1.97 and a fifty-two week high of $39.08.

About AST SpaceMobile

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.