JPMorgan Chase & Co. Buys 174,007 Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS)

JPMorgan Chase & Co. raised its position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 235.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 247,781 shares of the company’s stock after acquiring an additional 174,007 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.09% of AST SpaceMobile worth $6,479,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC increased its stake in shares of AST SpaceMobile by 9.4% during 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 in the last quarter. State Street Corp grew its stake in shares of AST SpaceMobile by 14.8% in the 3rd quarter. State Street Corp now owns 3,091,577 shares of the company’s stock worth $80,845,000 after buying an additional 399,713 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position 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 buying an additional 787,566 shares in the last quarter. Oppenheimer & Co. Inc. raised its stake in AST SpaceMobile by 6.0% during the third quarter. Oppenheimer & Co. Inc. now owns 846,072 shares of the company’s stock valued at $22,125,000 after buying an additional 47,600 shares during the last quarter. Finally, Privium Fund Management B.V. bought a new stake in AST SpaceMobile in the third quarter worth $21,476,000. Hedge funds and other institutional investors own 60.95% of the company’s stock.

AST SpaceMobile Stock Performance

ASTS stock opened at $21.54 on Thursday. The stock’s 50 day simple moving average is $23.50 and its 200 day simple moving average is $23.35. 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 12-month low of $1.97 and a 12-month high of $39.08. The stock has a market capitalization of $6.24 billion, a PE ratio of -10.16 and a beta of 1.64.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ASTS. UBS Group raised their price target on AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a report on Friday, November 15th. Scotiabank cut their price objective on shares of AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating on the stock in a research report on Friday, November 15th.

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.