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

Intech Investment Management LLC boosted its position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 68.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,711 shares of the company’s stock after buying an additional 25,111 shares during the period. Intech Investment Management LLC’s holdings in AST SpaceMobile were worth $1,302,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of ASTS. Charles Schwab Investment Management Inc. increased its stake in AST SpaceMobile by 228.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,131,705 shares of the company’s stock worth $29,594,000 after buying an additional 787,566 shares in the last quarter. State Street Corp increased its stake in AST SpaceMobile by 14.8% during the 3rd quarter. State Street Corp now owns 3,091,577 shares of the company’s stock worth $80,845,000 after buying an additional 399,713 shares in the last quarter. Geode Capital Management LLC increased its stake in AST SpaceMobile by 9.4% during the 3rd 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. Swiss National Bank purchased a new stake in AST SpaceMobile during the 3rd quarter worth approximately $6,911,000. Finally, Bank of New York Mellon Corp increased its stake in 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 worth $13,539,000 after buying an additional 234,517 shares in the last quarter. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at AST SpaceMobile

In related news, Director Julio A. Torres sold 20,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 52,628 shares in the company, valued at approximately $1,617,258.44. This represents a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 41.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ASTS has been the subject of several research reports. UBS Group boosted their price objective on AST SpaceMobile from $31.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Cantor Fitzgerald restated an “overweight” rating and issued a $30.00 price target on shares of AST SpaceMobile in a research report on Tuesday, March 4th. Finally, Scotiabank restated an “outperform” rating on shares of AST SpaceMobile in a research report on Wednesday, March 5th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $42.98.

AST SpaceMobile Trading Up 4.1 %

ASTS opened at $25.71 on Friday. AST SpaceMobile, Inc. has a one year low of $1.97 and a one year high of $39.08. The stock has a market capitalization of $8.14 billion, a PE ratio of -12.13 and a beta of 1.62. The business’s 50 day moving average price is $25.84 and its 200 day moving average price is $25.21. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80.

AST SpaceMobile 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.