AST SpaceMobile, Inc. (NASDAQ:ASTS) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. grew its stake in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 22.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,662 shares of the company’s stock after buying an additional 6,982 shares during the period. Victory Capital Management Inc.’s holdings in AST SpaceMobile were worth $795,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its holdings in shares of AST SpaceMobile by 11.9% in 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 in the last quarter. SBI Securities Co. Ltd. acquired a new stake in AST SpaceMobile during the 4th quarter worth $781,000. Jones Financial Companies Lllp boosted its stake in AST SpaceMobile by 667.1% during the 4th quarter. Jones Financial Companies Lllp now owns 5,454 shares of the company’s stock worth $115,000 after purchasing an additional 4,743 shares during the period. SRS Capital Advisors Inc. boosted its stake in AST SpaceMobile by 554.5% during the 4th quarter. SRS Capital Advisors Inc. now owns 3,482 shares of the company’s stock worth $73,000 after purchasing an additional 2,950 shares during the period. Finally, Oppenheimer & Co. Inc. boosted its stake in AST SpaceMobile by 0.9% during the 4th quarter. Oppenheimer & Co. Inc. now owns 854,063 shares of the company’s stock worth $18,021,000 after purchasing an additional 7,991 shares during the period. Institutional investors and hedge funds own 60.95% of the company’s stock.

AST SpaceMobile Stock Down 3.7 %

Shares of AST SpaceMobile stock opened at $24.69 on Friday. The company has a market cap of $7.81 billion, a P/E ratio of -11.65 and a beta of 1.62. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80. AST SpaceMobile, Inc. has a one year low of $1.97 and a one year high of $39.08. The firm has a fifty day moving average of $25.78 and a two-hundred day moving average of $25.23.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. UBS Group increased their price target on shares of AST SpaceMobile from $31.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Cantor Fitzgerald reiterated an “overweight” rating and set a $30.00 price target on shares of AST SpaceMobile in a research note on Tuesday, March 4th. Finally, Scotiabank reiterated an “outperform” rating on shares of AST SpaceMobile in a research note on Wednesday, March 5th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $42.98.

Insiders Place Their Bets

In other news, Director Julio A. Torres sold 20,000 shares of the 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 completion of the transaction, the director now owns 52,628 shares in the company, valued at $1,617,258.44. This trade represents a 27.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 41.80% of the stock is owned by insiders.

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.