AST SpaceMobile, Inc. (NASDAQ:ASTS) Stock Position Increased by Swiss National Bank

Swiss National Bank boosted its position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 18.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 314,000 shares of the company’s stock after buying an additional 49,700 shares during the quarter. Swiss National Bank owned 0.11% of AST SpaceMobile worth $6,625,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of ASTS. Rakuten Securities Inc. boosted its position in shares of AST SpaceMobile by 269.3% during the 4th quarter. Rakuten Securities Inc. now owns 9,566 shares of the company’s stock valued at $202,000 after purchasing an additional 6,976 shares in the last quarter. HighTower Advisors LLC boosted its holdings in AST SpaceMobile by 221.8% during the fourth quarter. HighTower Advisors LLC now owns 75,118 shares of the company’s stock worth $1,585,000 after buying an additional 51,775 shares in the last quarter. Independent Advisor Alliance acquired a new position in AST SpaceMobile in the fourth quarter worth approximately $212,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of AST SpaceMobile by 77.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 42,518 shares of the company’s stock valued at $897,000 after buying an additional 18,596 shares in the last quarter. Finally, AlphaQuest LLC acquired a new stake in shares of AST SpaceMobile during the 4th quarter valued at $67,000. 60.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other AST SpaceMobile news, Director Julio A. Torres sold 20,000 shares of the stock in a transaction that occurred 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 sale, the director now 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 41.80% of the stock is currently owned by corporate insiders.

AST SpaceMobile Trading Up 4.1 %

Shares of NASDAQ ASTS opened at $25.71 on Friday. The firm has a market capitalization of $8.14 billion, a PE ratio of -12.13 and a beta of 1.62. AST SpaceMobile, Inc. has a one year low of $1.97 and a one year high of $39.08. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31. The business has a 50-day moving average price of $25.84 and a two-hundred day moving average price of $25.18.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $30.00 target price on shares of AST SpaceMobile in a research report on Tuesday, March 4th. Scotiabank restated an “outperform” rating on shares of AST SpaceMobile in a report on Wednesday, March 5th. Finally, UBS Group raised their target price on shares of AST SpaceMobile from $31.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, AST SpaceMobile currently has a consensus rating of “Buy” and an average target price of $42.98.

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.