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

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

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Americana Partners LLC grew its stake in AST SpaceMobile by 5.2% during the 4th quarter. Americana Partners LLC now owns 27,047 shares of the company’s stock worth $571,000 after buying an additional 1,326 shares during the last quarter. Axxcess Wealth Management LLC grew its stake in AST SpaceMobile by 16.7% during the 4th quarter. Axxcess Wealth Management LLC now owns 10,562 shares of the company’s stock worth $223,000 after buying an additional 1,508 shares during the last quarter. Colonial River Investments LLC grew its stake in AST SpaceMobile by 17.3% during the 4th quarter. Colonial River Investments LLC now owns 10,618 shares of the company’s stock worth $224,000 after buying an additional 1,564 shares during the last quarter. SouthState Corp lifted its position in AST SpaceMobile by 6.5% during the 4th quarter. SouthState Corp now owns 32,542 shares of the company’s stock worth $687,000 after acquiring an additional 2,000 shares during the period. Finally, Golden State Wealth Management LLC acquired a new stake in AST SpaceMobile during the 4th quarter worth about $46,000. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

AST SpaceMobile Stock Performance

Shares of ASTS stock opened at $25.71 on Friday. The stock has a market cap of $8.14 billion, a PE ratio of -12.13 and a beta of 1.62. The business has a 50-day simple moving average of $25.84 and a 200-day simple moving average of $25.21. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31. AST SpaceMobile, Inc. has a 52-week low of $1.97 and a 52-week high of $39.08.

Insider Activity

In other news, Director Julio A. Torres sold 20,000 shares of the business’s 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 41.80% of the company’s stock.

Wall Street Analysts Forecast Growth

ASTS has been the subject of a number of research reports. Scotiabank reaffirmed an “outperform” rating on shares of AST SpaceMobile in a research report on Wednesday, March 5th. UBS Group lifted their price target on AST SpaceMobile from $31.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $30.00 price target on shares of AST SpaceMobile in a research report on Tuesday, March 4th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, AST SpaceMobile has an average rating of “Buy” and a consensus price target of $42.98.

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.