Swiss National Bank Acquires 49,700 Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS)

Swiss National Bank grew its holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 18.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 314,000 shares of the company’s stock after purchasing an additional 49,700 shares during the quarter. Swiss National Bank’s holdings in AST SpaceMobile were worth $6,625,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ASTS. Victory Capital Management Inc. lifted its stake in shares of AST SpaceMobile by 97.4% in the 3rd quarter. Victory Capital Management Inc. now owns 30,680 shares of the company’s stock valued at $802,000 after purchasing an additional 15,138 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of AST SpaceMobile in the third quarter worth about $957,000. Charles Schwab Investment Management Inc. boosted its stake in shares of 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 worth $29,594,000 after acquiring an additional 787,566 shares in the last quarter. Kingsview Wealth Management LLC acquired a new position in shares of AST SpaceMobile during the 3rd quarter valued at about $586,000. Finally, Algert Global LLC bought a new position in shares of AST SpaceMobile in the 3rd quarter valued at approximately $768,000. Institutional investors and hedge funds own 60.95% of the company’s stock.

Wall Street Analysts Forecast Growth

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

AST SpaceMobile Trading Up 4.1 %

Shares of AST SpaceMobile stock opened at $25.71 on Friday. AST SpaceMobile, Inc. has a 1 year low of $1.97 and a 1 year high of $39.08. The company’s fifty day simple moving average is $25.84 and its 200-day simple moving average is $25.18. The company has a market cap of $8.14 billion, a price-to-earnings ratio of -12.13 and a beta of 1.62. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31.

Insiders Place Their Bets

In related 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 trade represents a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 41.80% of the company’s stock.

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.