Handelsbanken Fonder AB Acquires New Shares in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Handelsbanken Fonder AB purchased a new position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 35,800 shares of the company's stock, valued at approximately $755,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Amalgamated Bank raised its holdings in shares of AST SpaceMobile by 17.4% in the third quarter. Amalgamated Bank now owns 4,578 shares of the company's stock valued at $120,000 after buying an additional 679 shares during the last quarter. Fairfield Financial Advisors LTD acquired a new stake in AST SpaceMobile in the 3rd quarter valued at about $26,000. Hollencrest Capital Management bought a new position in shares of AST SpaceMobile in the third quarter worth about $26,000. Americana Partners LLC lifted its position in shares of AST SpaceMobile by 5.2% during the fourth quarter. Americana Partners LLC now owns 27,047 shares of the company's stock worth $571,000 after purchasing an additional 1,326 shares in the last quarter. Finally, Golden State Wealth Management LLC bought a new stake in shares of AST SpaceMobile during the fourth quarter valued at approximately $46,000. 60.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ASTS has been the subject of several research analyst reports. Cantor Fitzgerald upgraded shares of AST SpaceMobile to a "strong-buy" rating in a research report on Tuesday, February 25th. Scotiabank dropped their target price on AST SpaceMobile from $44.70 to $40.20 and set a "sector outperform" rating for the company in a research report on Friday, January 24th. Finally, UBS Group raised their price target on AST SpaceMobile from $30.00 to $31.00 and gave the company a "buy" rating in a report on Friday, November 15th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $40.04.

AST SpaceMobile Trading Down 5.5 %

ASTS stock traded down $1.49 during midday trading on Monday, reaching $25.62. The company's stock had a trading volume of 14,969,407 shares, compared to its average volume of 11,930,029. The business's 50-day simple moving average is $24.26 and its 200-day simple moving average is $25.49. The stock has a market cap of $7.42 billion, a PE ratio of -12.08 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 has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last issued its earnings results on Monday, March 3rd. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.18) by $0.06. As a group, sell-side analysts expect that AST SpaceMobile, Inc. will post -0.4 EPS for the current year.

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.