Magnetar Financial LLC Takes Position in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Magnetar Financial LLC acquired a new stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 86,343 shares of the company’s stock, valued at approximately $1,822,000.

Other large investors have also recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in AST SpaceMobile by 9.4% in the third quarter. Geode Capital Management LLC now owns 3,267,066 shares of the company’s stock valued at $85,450,000 after purchasing an additional 281,749 shares during the last quarter. State Street Corp boosted its holdings in AST SpaceMobile by 14.8% in the third quarter. State Street Corp now owns 3,091,577 shares of the company’s stock valued at $80,845,000 after purchasing an additional 399,713 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings 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 purchasing an additional 135,008 shares during the last quarter. Oppenheimer & Co. Inc. boosted its holdings in AST SpaceMobile by 0.9% in the fourth quarter. Oppenheimer & Co. Inc. now owns 854,063 shares of the company’s stock valued at $18,021,000 after purchasing an additional 7,991 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in AST SpaceMobile by 57.6% in 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 last quarter. 60.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ASTS has been the topic of several recent research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $30.00 price target on shares of AST SpaceMobile in a report on Tuesday, March 4th. Scotiabank reaffirmed an “outperform” rating on shares of AST SpaceMobile in a report on Wednesday, March 5th. Finally, UBS Group upped 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. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $42.98.

AST SpaceMobile Stock Down 3.7 %

ASTS opened at $24.69 on Friday. AST SpaceMobile, Inc. has a twelve month low of $1.97 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 company has a 50-day moving average price of $25.78 and a 200 day moving average price of $25.23. The company has a market cap of $7.81 billion, a PE ratio of -11.65 and a beta of 1.62.

Insider Buying and Selling at AST SpaceMobile

In other AST SpaceMobile 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 sale, the director now owns 52,628 shares in the company, valued at approximately $1,617,258.44. This represents a 27.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 41.80% of the stock is owned by 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.