Harvest Investment Services LLC Raises Position in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Harvest Investment Services LLC lifted its position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 38.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,220 shares of the company’s stock after acquiring an additional 19,128 shares during the period. Harvest Investment Services LLC’s holdings in AST SpaceMobile were worth $1,461,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in ASTS. JPMorgan Chase & Co. increased its holdings in shares of 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. lifted its stake in 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 valued at $26,728,000 after acquiring an additional 135,008 shares during the period. Handelsbanken Fonder AB purchased a new stake in shares of AST SpaceMobile during the 4th quarter valued at about $755,000. Van ECK Associates Corp raised its holdings in shares of AST SpaceMobile by 150.1% during the fourth 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. Finally, Bank of New York Mellon Corp lifted 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 valued at $13,539,000 after purchasing an additional 234,517 shares during the period. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at AST SpaceMobile

In other AST SpaceMobile news, Director Julio A. Torres sold 20,000 shares of AST SpaceMobile stock in a transaction on 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 directly owns 52,628 shares of the company’s stock, valued at $1,617,258.44. This trade represents a 27.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 41.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

AST SpaceMobile Stock Down 11.2 %

Shares of ASTS stock opened at $20.76 on Tuesday. The stock has a market cap of $6.57 billion, a P/E ratio of -9.79 and a beta of 1.81. The company’s fifty day simple moving average is $26.23 and its two-hundred day simple moving average is $24.63. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31. AST SpaceMobile, Inc. has a 52 week low of $2.07 and a 52 week high of $39.08.

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.