Invesco Ltd. Increases Stake in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Invesco Ltd. boosted its holdings in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 34.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,667 shares of the company's stock after acquiring an additional 17,925 shares during the period. Invesco Ltd.'s holdings in AST SpaceMobile were worth $1,491,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of AST SpaceMobile by 49.4% during the fourth 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 last quarter. Bank of New York Mellon Corp raised its stake 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 worth $13,539,000 after acquiring an additional 234,517 shares in the last quarter. Geode Capital Management LLC lifted its position in AST SpaceMobile by 7.0% during 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 last quarter. JPMorgan Chase & Co. boosted its stake in AST SpaceMobile by 235.9% in the third 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. Finally, ExodusPoint Capital Management LP grew its holdings in AST SpaceMobile by 237.1% in the fourth quarter. ExodusPoint Capital Management LP now owns 227,566 shares of the company's stock worth $4,802,000 after purchasing an additional 160,068 shares during the last quarter. Hedge funds and other institutional investors own 60.95% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ASTS. UBS Group raised their price objective on AST SpaceMobile from $31.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. Roth Capital assumed coverage on AST SpaceMobile in a report on Thursday, April 10th. They issued a "buy" rating and a $42.00 price target for the company. Cantor Fitzgerald restated an "overweight" rating and set a $30.00 price objective on shares of AST SpaceMobile in a report on Tuesday, March 4th. Finally, Scotiabank reiterated an "outperform" rating on shares of AST SpaceMobile in a research note on Wednesday, March 5th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $42.82.

Insider Buying and Selling

In other AST SpaceMobile news, Director Julio A. Torres sold 20,000 shares of AST SpaceMobile stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $30.73, for a total transaction of $614,600.00. Following the completion of the sale, the director now directly 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 41.80% of the stock is owned by corporate insiders.

AST SpaceMobile Stock Performance

Shares of ASTS stock traded up $3.40 during mid-day trading on Friday, reaching $26.42. The stock had a trading volume of 19,953,045 shares, compared to its average volume of 12,668,944. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31. AST SpaceMobile, Inc. has a 1-year low of $2.12 and a 1-year high of $39.08. The firm has a market cap of $8.36 billion, a price-to-earnings ratio of -12.46 and a beta of 1.81. The business's fifty day moving average is $25.05 and its 200-day moving average is $24.57.

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.