Voya Investment Management LLC Decreases Stock Position in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Voya Investment Management LLC trimmed its position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 7.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 40,314 shares of the company’s stock after selling 3,020 shares during the quarter. Voya Investment Management LLC’s holdings in AST SpaceMobile were worth $851,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of AST SpaceMobile by 49.4% during the 4th quarter. Vanguard Group Inc. now owns 14,987,351 shares of the company’s stock worth $316,233,000 after purchasing an additional 4,955,941 shares during the period. T. Rowe Price Investment Management Inc. purchased a new position in shares of AST SpaceMobile during the fourth quarter valued at approximately $59,523,000. Bank of New York Mellon Corp grew its stake in shares of 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 buying an additional 234,517 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of AST SpaceMobile by 7.0% in the fourth quarter. Geode Capital Management LLC now owns 3,496,825 shares of the company’s stock worth $73,801,000 after buying an additional 229,759 shares during the period. Finally, Marshall Wace LLP bought a new stake in shares of AST SpaceMobile during the 4th quarter worth approximately $4,380,000. Institutional investors own 60.95% of the company’s stock.

Insider Activity at AST SpaceMobile

In other news, Director Julio A. Torres sold 20,000 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $30.73, for a total transaction of $614,600.00. Following the transaction, the director now directly owns 52,628 shares of the company’s stock, valued at approximately $1,617,258.44. This represents a 27.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 41.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Oppenheimer initiated coverage on AST SpaceMobile in a research note on Monday. They issued a “market perform” rating on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $30.00 price objective on shares of AST SpaceMobile in a research report on Tuesday, March 4th. 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 target price on the stock. Scotiabank reiterated an “outperform” rating on shares of AST SpaceMobile in a report on Wednesday, March 5th. Finally, UBS Group lifted their target price on AST SpaceMobile from $31.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.82.

AST SpaceMobile Stock Performance

ASTS stock opened at $25.29 on Thursday. AST SpaceMobile, Inc. has a one year low of $2.12 and a one year high of $39.08. The firm has a market cap of $8.00 billion, a price-to-earnings ratio of -11.93 and a beta of 2.05. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80. The firm has a 50-day simple moving average of $24.94 and a two-hundred day simple moving average of $24.52.

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.