Price T Rowe Associates Inc. MD Increases Holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Price T Rowe Associates Inc. MD boosted its position in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 15.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,890 shares of the company's stock after buying 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 institutional investors and hedge funds have also bought and sold shares of the business. JPMorgan Chase & Co. lifted its position 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 purchasing an additional 174,007 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in AST SpaceMobile by 11.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,266,713 shares of the company's stock valued at $26,728,000 after buying an additional 135,008 shares during the last quarter. Handelsbanken Fonder AB purchased a new stake in AST SpaceMobile during the 4th quarter valued at $755,000. Wells Fargo & Company MN grew its holdings in AST SpaceMobile by 25.2% in the 4th quarter. Wells Fargo & Company MN now owns 117,822 shares of the company's stock worth $2,486,000 after acquiring an additional 23,746 shares during the last quarter. Finally, Van ECK Associates Corp increased its position 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 acquiring an additional 155,310 shares during the period. 60.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ASTS has been the subject of several research analyst reports. Scotiabank reaffirmed an "outperform" rating on shares of AST SpaceMobile in a research report on Wednesday, March 5th. UBS Group lifted their price objective on AST SpaceMobile from $31.00 to $38.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th. Cantor Fitzgerald reissued an "overweight" rating and issued a $30.00 target price on shares of AST SpaceMobile in a research report on Tuesday, March 4th. Oppenheimer initiated coverage on AST SpaceMobile in a research report on Monday. They set a "market perform" rating on the stock. Finally, Roth Capital began coverage on AST SpaceMobile in a research note on Thursday, April 10th. They issued a "buy" rating and a $42.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $42.82.

AST SpaceMobile Stock Performance

AST SpaceMobile stock opened at $25.29 on Thursday. The stock's 50 day moving average is $24.94 and its 200 day moving average is $24.52. The company has a market capitalization of $8.00 billion, a P/E ratio of -11.93 and a beta of 2.05. AST SpaceMobile, Inc. has a twelve month low of $2.12 and a twelve month high of $39.08. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31.

Insider Transactions at AST SpaceMobile

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

Want to see what other hedge funds are holding ASTS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.