AST SpaceMobile, Inc. (NASDAQ:ASTS) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 235.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 247,781 shares of the company's stock after buying an additional 174,007 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.09% of AST SpaceMobile worth $6,479,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Fairfield Financial Advisors LTD acquired a new position in shares of AST SpaceMobile in the 3rd quarter valued at $26,000. Hollencrest Capital Management purchased a new stake in AST SpaceMobile in the third quarter valued at $26,000. Rakuten Securities Inc. purchased a new stake in AST SpaceMobile in the third quarter valued at $68,000. Sunbelt Securities Inc. boosted its stake in AST SpaceMobile by 3,380.0% in the third quarter. Sunbelt Securities Inc. now owns 3,480 shares of the company's stock valued at $91,000 after acquiring an additional 3,380 shares in the last quarter. Finally, KBC Group NV purchased a new position in shares of AST SpaceMobile during the third quarter worth about $104,000. 60.95% of the stock is currently owned by institutional investors and hedge funds.

AST SpaceMobile Stock Performance

AST SpaceMobile stock traded down $0.52 during mid-day trading on Thursday, reaching $21.02. 3,357,135 shares of the company were exchanged, compared to its average volume of 5,520,641. The firm's 50-day simple moving average is $23.48 and its two-hundred day simple moving average is $23.34. AST SpaceMobile, Inc. has a twelve month low of $1.97 and a twelve month high of $39.08. The firm has a market cap of $6.09 billion, a PE ratio of -9.91 and a beta of 1.64. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Scotiabank decreased their target price on AST SpaceMobile from $45.90 to $44.70 and set a "sector outperform" rating for the company in a research report on Friday, November 15th. UBS Group increased their price objective on AST SpaceMobile from $30.00 to $31.00 and gave the company a "buy" rating in a report on Friday, November 15th.

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.