Quarry LP Acquires Shares of 6,054 AST SpaceMobile, Inc. (NASDAQ:ASTS)

Quarry LP bought a new position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 6,054 shares of the company’s stock, valued at approximately $128,000.

A number of other institutional investors also recently modified their holdings of ASTS. JPMorgan Chase & Co. raised 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 in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of 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 stake in shares of AST SpaceMobile in the fourth quarter valued at approximately $755,000. Van ECK Associates Corp grew its position in AST SpaceMobile by 150.1% during the fourth quarter. Van ECK Associates Corp now owns 258,747 shares of the company’s stock worth $5,460,000 after buying an additional 155,310 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in AST SpaceMobile by 57.6% during the fourth quarter. Bank of New York Mellon Corp now owns 641,678 shares of the company’s stock worth $13,539,000 after buying an additional 234,517 shares in the last quarter. Institutional investors own 60.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $30.00 target price on shares of AST SpaceMobile in a research report on Tuesday, March 4th. Scotiabank reaffirmed an “outperform” rating on shares of AST SpaceMobile in a research report on Wednesday, March 5th. UBS Group raised their target price on shares of AST SpaceMobile from $31.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Finally, Roth Capital began coverage on shares of AST SpaceMobile in a research report on Thursday, April 10th. They issued a “buy” rating and a $42.00 target price for the company. Six 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 price target of $42.82.

Insider Activity

In related news, Director Julio A. Torres sold 20,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 52,628 shares in the company, valued at $1,617,258.44. This represents a 27.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 41.80% of the stock is currently owned by corporate insiders.

AST SpaceMobile Stock Performance

NASDAQ:ASTS opened at $24.25 on Tuesday. AST SpaceMobile, Inc. has a twelve month low of $2.12 and a twelve month high of $39.08. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31. The stock’s 50-day simple moving average is $25.42 and its 200 day simple moving average is $24.61. The firm has a market capitalization of $7.67 billion, a PE ratio of -11.44 and a beta of 1.81.

AST SpaceMobile Company 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.