IPG Investment Advisors LLC Purchases 45,375 Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS)

IPG Investment Advisors LLC raised its holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 217.4% in the fourth quarter, Holdings Channel reports. The fund owned 66,250 shares of the company’s stock after acquiring an additional 45,375 shares during the period. IPG Investment Advisors LLC’s holdings in AST SpaceMobile were worth $1,398,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of ASTS. JPMorgan Chase & Co. boosted its stake in AST SpaceMobile by 235.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 247,781 shares of the company’s stock worth $6,479,000 after purchasing an additional 174,007 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of 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 worth $26,728,000 after purchasing an additional 135,008 shares during the last quarter. Algert Global LLC bought a new stake in AST SpaceMobile during the third quarter worth $768,000. Handelsbanken Fonder AB bought a new stake in shares of AST SpaceMobile in the 4th quarter valued at about $755,000. Finally, Van ECK Associates Corp lifted its stake in AST SpaceMobile by 150.1% in the 4th 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 last quarter. 60.95% of the stock is currently owned by institutional investors.

Insider Transactions at AST SpaceMobile

In related news, Director Julio A. Torres sold 20,000 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were 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. Insiders own 41.80% of the company’s stock.

Analysts Set New Price Targets

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

AST SpaceMobile Stock Performance

NASDAQ:ASTS opened at $24.06 on Friday. The stock has a 50 day simple moving average of $26.45 and a 200 day simple moving average of $25.15. The stock has a market cap of $7.61 billion, a P/E ratio of -11.35 and a beta of 1.62. AST SpaceMobile, Inc. has a 1-year low of $1.97 and a 1-year high of $39.08. 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 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.