Zurcher Kantonalbank Zurich Cantonalbank Boosts Holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 77.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,518 shares of the company’s stock after acquiring an additional 18,596 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in AST SpaceMobile were worth $897,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ASTS. Charles Schwab Investment Management Inc. raised its holdings in AST SpaceMobile by 228.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,131,705 shares of the company’s stock valued at $29,594,000 after acquiring an additional 787,566 shares in the last quarter. State Street Corp lifted its position in shares of AST SpaceMobile by 14.8% during 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. Geode Capital Management LLC lifted its position in shares of AST SpaceMobile by 9.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,267,066 shares of the company’s stock worth $85,450,000 after buying an additional 281,749 shares during the last quarter. Swiss National Bank purchased a new stake in shares of AST SpaceMobile during the 3rd quarter worth approximately $6,911,000. Finally, Bank of New York Mellon Corp lifted its position in shares of AST SpaceMobile by 57.6% during the 4th quarter. Bank of New York Mellon Corp now owns 641,678 shares of the company’s stock worth $13,539,000 after buying an additional 234,517 shares during the last quarter. Institutional investors and hedge funds own 60.95% of the company’s stock.

AST SpaceMobile Stock Down 3.7 %

ASTS stock opened at $24.69 on Friday. The company has a fifty day moving average price of $25.78 and a 200 day moving average price of $25.23. AST SpaceMobile, Inc. has a 12 month low of $1.97 and a 12 month high of $39.08. The company has a market cap of $7.81 billion, a price-to-earnings ratio of -11.65 and a beta of 1.62. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ASTS. Cantor Fitzgerald restated an “overweight” rating and set a $30.00 price objective 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 research report on Wednesday, March 5th. Finally, UBS Group boosted 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 investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $42.98.

Insider Activity at AST SpaceMobile

In other AST SpaceMobile news, Director Julio A. Torres sold 20,000 shares of the business’s 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 transaction, the director now directly owns 52,628 shares of the company’s stock, valued at approximately $1,617,258.44. The trade was a 27.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed 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.