AST SpaceMobile, Inc. (NASDAQ:ASTS) Stock Holdings Cut by NewEdge Advisors LLC

NewEdge Advisors LLC lowered its position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 75.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 34,130 shares of the company's stock after selling 106,275 shares during the quarter. NewEdge Advisors LLC's holdings in AST SpaceMobile were worth $720,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ASTS. JPMorgan Chase & Co. boosted its position in shares of AST SpaceMobile by 235.9% in the third quarter. JPMorgan Chase & Co. now owns 247,781 shares of the company's stock worth $6,479,000 after buying an additional 174,007 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in AST SpaceMobile by 11.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,266,713 shares of the company's stock worth $26,728,000 after acquiring an additional 135,008 shares during the period. Handelsbanken Fonder AB purchased a new stake in shares of AST SpaceMobile during the fourth quarter valued at approximately $755,000. Wells Fargo & Company MN lifted its position in shares of AST SpaceMobile by 25.2% during the fourth quarter. Wells Fargo & Company MN now owns 117,822 shares of the company's stock worth $2,486,000 after purchasing an additional 23,746 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of AST SpaceMobile by 150.1% in the fourth quarter. Van ECK Associates Corp now owns 258,747 shares of the company's stock valued at $5,460,000 after purchasing an additional 155,310 shares during the period. Institutional investors and hedge funds own 60.95% of the company's stock.

Insiders Place Their Bets

In related news, Director Julio A. Torres sold 20,000 shares of AST SpaceMobile stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $30.73, for a total transaction of $614,600.00. Following the sale, the director now directly owns 52,628 shares in the company, valued at $1,617,258.44. The trade was a 27.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 41.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ASTS. Scotiabank reaffirmed an "outperform" rating on shares of AST SpaceMobile in a research note on Wednesday, March 5th. Roth Capital assumed coverage on AST SpaceMobile in a research report on Thursday, April 10th. They set a "buy" rating and a $42.00 price target on the stock. Cantor Fitzgerald reissued an "overweight" rating and issued a $30.00 price target on shares of AST SpaceMobile in a report on Tuesday, March 4th. Finally, UBS Group upped 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. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $42.82.

AST SpaceMobile Stock Performance

ASTS stock traded up $4.51 on Friday, reaching $27.53. The company's stock had a trading volume of 12,591,697 shares, compared to its average volume of 12,558,324. AST SpaceMobile, Inc. has a 52 week low of $2.12 and a 52 week high of $39.08. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80. The company has a market capitalization of $8.71 billion, a P/E ratio of -12.83 and a beta of 1.81. The firm has a fifty day moving average of $25.04 and a two-hundred day moving average of $24.58.

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.