KLP Kapitalforvaltning AS Takes Position in AST SpaceMobile, Inc. (NASDAQ:ASTS)

KLP Kapitalforvaltning AS acquired a new position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 33,600 shares of the company’s stock, valued at approximately $709,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ASTS. Geode Capital Management LLC grew its holdings in shares of AST SpaceMobile by 9.4% during the third 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 in the last quarter. State Street Corp boosted its position in AST SpaceMobile by 14.8% during the third quarter. State Street Corp now owns 3,091,577 shares of the company’s stock worth $80,845,000 after acquiring an additional 399,713 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in AST SpaceMobile by 11.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,266,713 shares of the company’s stock worth $26,728,000 after acquiring an additional 135,008 shares during the period. Oppenheimer & Co. Inc. raised its holdings in AST SpaceMobile by 0.9% in the 4th quarter. Oppenheimer & Co. Inc. now owns 854,063 shares of the company’s stock valued at $18,021,000 after acquiring an additional 7,991 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake 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 purchasing an additional 234,517 shares during the period. Hedge funds and other institutional investors own 60.95% of the company’s stock.

Insider Activity at AST SpaceMobile

In related news, Director Julio A. Torres sold 20,000 shares of the stock in a transaction on Monday, March 10th. The stock was 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 41.80% of the stock is currently owned by insiders.

AST SpaceMobile Stock Performance

NASDAQ ASTS opened at $21.85 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80. AST SpaceMobile, Inc. has a 1-year low of $1.97 and a 1-year high of $39.08. The firm has a market capitalization of $6.92 billion, a P/E ratio of -10.31 and a beta of 1.62. The business’s 50-day simple moving average is $26.46 and its 200-day simple moving average is $25.04.

Analyst Upgrades and Downgrades

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