35,808 Shares in AST SpaceMobile, Inc. (NASDAQ:ASTS) Acquired by Optimize Financial Inc

Optimize Financial Inc purchased a new position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 35,808 shares of the company's stock, valued at approximately $756,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ASTS. Vanguard Group Inc. lifted its holdings in AST SpaceMobile by 49.4% in the 4th quarter. Vanguard Group Inc. now owns 14,987,351 shares of the company's stock valued at $316,233,000 after purchasing an additional 4,955,941 shares in the last quarter. State Street Corp raised its position in shares of AST SpaceMobile by 14.8% in the third quarter. State Street Corp now owns 3,091,577 shares of the company's stock valued at $80,845,000 after buying an additional 399,713 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of AST SpaceMobile by 9.4% in the third quarter. Geode Capital Management LLC now owns 3,267,066 shares of the company's stock worth $85,450,000 after buying an additional 281,749 shares in the last quarter. Bank of New York Mellon Corp boosted its position in AST SpaceMobile by 57.6% during the fourth quarter. Bank of New York Mellon Corp now owns 641,678 shares of the company's stock worth $13,539,000 after acquiring an additional 234,517 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in AST SpaceMobile by 235.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 247,781 shares of the company's stock valued at $6,479,000 after acquiring an additional 174,007 shares in the last quarter. 60.95% of the stock is owned by hedge funds and other institutional investors.

AST SpaceMobile Trading Down 3.2 %

ASTS traded down $0.74 on Wednesday, hitting $22.18. The company had a trading volume of 2,542,130 shares, compared to its average volume of 11,430,342. 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 cap of $7.02 billion, a P/E ratio of -10.46 and a beta of 1.81. The company's fifty day moving average price is $26.70 and its 200 day moving average price is $24.69. AST SpaceMobile, Inc. has a 1 year low of $2.03 and a 1 year high of $39.08.

Insider Activity

In related news, Director Julio A. Torres sold 20,000 shares of the business's 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 sale, the director now owns 52,628 shares in the company, valued at approximately $1,617,258.44. The trade was a 27.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 41.80% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ASTS shares. UBS Group boosted their target price on AST SpaceMobile from $31.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Roth Capital began coverage on AST SpaceMobile in a report on Thursday, April 10th. They issued a "buy" rating and a $42.00 target price for the company. Scotiabank reiterated 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 price objective on shares of AST SpaceMobile in a research report on Tuesday, March 4th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $42.82.

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.