AST SpaceMobile, Inc. (NASDAQ:ASTS) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 77.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 42,518 shares of the company’s stock after purchasing an additional 18,596 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in AST SpaceMobile were worth $897,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in ASTS. Golden State Wealth Management LLC acquired a new position in shares of AST SpaceMobile during the 4th quarter worth $46,000. AlphaQuest LLC acquired a new position in shares of AST SpaceMobile during the 4th quarter worth $67,000. SRS Capital Advisors Inc. grew its stake in shares of AST SpaceMobile by 554.5% during the 4th quarter. SRS Capital Advisors Inc. now owns 3,482 shares of the company’s stock worth $73,000 after purchasing an additional 2,950 shares during the period. Sunbelt Securities Inc. grew its stake in shares of AST SpaceMobile by 3,380.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 3,480 shares of the company’s stock worth $91,000 after purchasing an additional 3,380 shares during the period. Finally, KBC Group NV acquired a new position in shares of AST SpaceMobile during the 3rd quarter worth $104,000. 60.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ASTS has been the topic of a number of recent analyst reports. UBS Group upped their price target on shares of AST SpaceMobile from $31.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Cantor Fitzgerald reissued an “overweight” rating and issued a $30.00 price objective on shares of AST SpaceMobile in a research note on Tuesday, March 4th. Finally, Scotiabank reissued an “outperform” rating on shares of AST SpaceMobile in a research note on Wednesday, March 5th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $42.98.

AST SpaceMobile Price Performance

Shares of NASDAQ ASTS opened at $24.69 on Friday. The stock has a market cap of $7.81 billion, a price-to-earnings ratio of -11.65 and a beta of 1.62. AST SpaceMobile, Inc. has a 52 week low of $1.97 and a 52 week high of $39.08. The company’s 50-day moving average price is $25.78 and its 200 day moving average price is $25.23. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31.

Insider Buying and Selling at AST SpaceMobile

In other AST SpaceMobile news, Director Julio A. Torres sold 20,000 shares of the company’s 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 transaction, the director now directly owns 52,628 shares in the company, valued at approximately $1,617,258.44. This represents a 27.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 41.80% of the stock is owned by insiders.

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.