IPG Investment Advisors LLC Has $1.40 Million Position in AST SpaceMobile, Inc. (NASDAQ:ASTS)

IPG Investment Advisors LLC raised its stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 217.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 66,250 shares of the company’s stock after acquiring an additional 45,375 shares during the quarter. IPG Investment Advisors LLC’s holdings in AST SpaceMobile were worth $1,398,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its holdings in AST SpaceMobile by 228.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,131,705 shares of the company’s stock valued at $29,594,000 after purchasing an additional 787,566 shares during the last quarter. Algert Global LLC acquired a new position in shares of AST SpaceMobile in the 3rd quarter worth approximately $768,000. The Manufacturers Life Insurance Company grew its position in AST SpaceMobile by 60.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 82,400 shares of the company’s stock worth $2,155,000 after acquiring an additional 31,191 shares during the last quarter. FMR LLC increased its holdings in AST SpaceMobile by 230.5% during the 3rd quarter. FMR LLC now owns 39,638 shares of the company’s stock valued at $1,037,000 after purchasing an additional 27,644 shares in the last quarter. Finally, MetLife Investment Management LLC raised its position in AST SpaceMobile by 12.4% in the 3rd quarter. MetLife Investment Management LLC now owns 76,302 shares of the company’s stock valued at $1,995,000 after purchasing an additional 8,441 shares during the last quarter. Institutional investors and hedge funds own 60.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and issued a $30.00 target price on shares of AST SpaceMobile in a research note on Tuesday, March 4th. UBS Group boosted their target price 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. Finally, Scotiabank reissued an “outperform” rating on shares of AST SpaceMobile in a research note on Wednesday, March 5th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, AST SpaceMobile has a consensus rating of “Buy” and a consensus price target of $42.98.

AST SpaceMobile Stock Performance

AST SpaceMobile stock opened at $24.06 on Friday. The company has a market cap of $7.61 billion, a PE ratio of -11.35 and a beta of 1.62. 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, Inc. has a 1 year low of $1.97 and a 1 year high of $39.08. The company’s 50-day moving average is $26.45 and its two-hundred day moving average is $25.15.

Insider Activity at AST SpaceMobile

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 completion of the sale, the director now owns 52,628 shares in the company, valued at approximately $1,617,258.44. The trade was a 27.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 41.80% of the stock is currently owned by company insiders.

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.