Price T Rowe Associates Inc. MD Acquires 13,980 Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS)

Price T Rowe Associates Inc. MD lifted its holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 15.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 105,890 shares of the company’s stock after purchasing an additional 13,980 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in AST SpaceMobile were worth $2,235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of ASTS. Vanguard Group Inc. lifted its holdings in shares of AST SpaceMobile by 49.4% during the 4th quarter. Vanguard Group Inc. now owns 14,987,351 shares of the company’s stock valued at $316,233,000 after buying an additional 4,955,941 shares during the period. Geode Capital Management LLC lifted its holdings in AST SpaceMobile by 7.0% in the fourth quarter. Geode Capital Management LLC now owns 3,496,825 shares of the company’s stock valued at $73,801,000 after acquiring an additional 229,759 shares during the period. Charles Schwab Investment Management Inc. boosted its position in AST SpaceMobile by 11.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,266,713 shares of the company’s stock worth $26,728,000 after purchasing an additional 135,008 shares during the last quarter. Oppenheimer & Co. Inc. grew its stake in shares of AST SpaceMobile by 0.9% during the 4th quarter. Oppenheimer & Co. Inc. now owns 854,063 shares of the company’s stock valued at $18,021,000 after purchasing an additional 7,991 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of AST SpaceMobile by 57.6% during the 4th quarter. Bank of New York Mellon Corp now owns 641,678 shares of the company’s stock valued at $13,539,000 after purchasing an additional 234,517 shares during the last quarter. 60.95% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Roth Capital assumed coverage on shares of AST SpaceMobile in a report on Thursday, April 10th. They issued a “buy” rating and a $42.00 price objective on the stock. Scotiabank reissued an “outperform” rating on shares of AST SpaceMobile in a research report on Wednesday, March 5th. UBS Group raised 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. Cantor Fitzgerald reissued an “overweight” rating and set a $30.00 price target on shares of AST SpaceMobile in a report on Tuesday, March 4th. Finally, Oppenheimer assumed coverage on AST SpaceMobile in a research note on Monday. They issued a “market perform” rating on the stock. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, AST SpaceMobile currently has an average rating of “Moderate Buy” and an average price target of $42.82.

AST SpaceMobile Trading Up 0.8 %

Shares of AST SpaceMobile stock opened at $25.29 on Thursday. AST SpaceMobile, Inc. has a fifty-two week low of $2.12 and a fifty-two week high of $39.08. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80. The company has a market capitalization of $8.00 billion, a P/E ratio of -11.93 and a beta of 2.05. The company has a fifty day moving average of $24.94 and a 200 day moving average of $24.52.

Insider Transactions 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 transaction of $614,600.00. Following the sale, the director now owns 52,628 shares of the company’s stock, valued at approximately $1,617,258.44. This trade represents a 27.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 41.80% of the company’s stock.

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.