Invesco Ltd. Buys 17,925 Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS)

Invesco Ltd. raised its stake in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 34.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 70,667 shares of the company’s stock after buying an additional 17,925 shares during the quarter. Invesco Ltd.’s holdings in AST SpaceMobile were worth $1,491,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted 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 buying an additional 174,007 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in AST SpaceMobile by 11.9% in the fourth 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 in the last quarter. Handelsbanken Fonder AB bought a new position in AST SpaceMobile in the fourth quarter valued at approximately $755,000. Wells Fargo & Company MN lifted its stake in AST SpaceMobile by 25.2% in the fourth quarter. Wells Fargo & Company MN now owns 117,822 shares of the company’s stock valued at $2,486,000 after buying an additional 23,746 shares in the last quarter. Finally, Van ECK Associates Corp lifted its stake in 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 buying an additional 155,310 shares in the last quarter. Institutional investors own 60.95% of the company’s stock.

AST SpaceMobile Stock Performance

NASDAQ ASTS opened at $23.21 on Thursday. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31. The firm’s fifty day moving average price is $25.15 and its two-hundred day moving average price is $24.59. AST SpaceMobile, Inc. has a 1 year low of $2.12 and a 1 year high of $39.08. The firm has a market capitalization of $7.35 billion, a P/E ratio of -10.95 and a beta of 1.81.

Insiders Place Their Bets

In other AST SpaceMobile news, Director Julio A. Torres sold 20,000 shares of the company’s stock in a transaction 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 sale, the director now directly owns 52,628 shares of the company’s stock, 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 available through this hyperlink. Insiders own 41.80% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on ASTS shares. UBS Group boosted their price objective on shares of AST SpaceMobile from $31.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Scotiabank reissued an “outperform” rating on shares of AST SpaceMobile in a research report on Wednesday, March 5th. Cantor Fitzgerald reissued an “overweight” rating and issued a $30.00 price objective on shares of AST SpaceMobile in a research report on Tuesday, March 4th. Finally, Roth Capital started coverage on shares of AST SpaceMobile in a research report on Thursday, April 10th. They issued a “buy” rating and a $42.00 price objective on the stock. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $42.82.

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.