Van ECK Associates Corp Raises Stock Position in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Van ECK Associates Corp raised its holdings in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 150.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 258,747 shares of the company's stock after acquiring an additional 155,310 shares during the period. Van ECK Associates Corp owned approximately 0.09% of AST SpaceMobile worth $5,460,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Geode Capital Management LLC lifted its stake in AST SpaceMobile by 9.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,267,066 shares of the company's stock valued at $85,450,000 after acquiring an additional 281,749 shares during the period. State Street Corp lifted its stake in AST SpaceMobile by 14.8% during the 3rd quarter. State Street Corp now owns 3,091,577 shares of the company's stock valued at $80,845,000 after acquiring an additional 399,713 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in 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 valued at $29,594,000 after acquiring an additional 787,566 shares during the period. Oppenheimer & Co. Inc. lifted its stake in AST SpaceMobile by 6.0% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 846,072 shares of the company's stock valued at $22,125,000 after acquiring an additional 47,600 shares during the period. Finally, Privium Fund Management B.V. acquired a new position in shares of AST SpaceMobile in the 3rd quarter valued at $21,476,000. 60.95% of the stock is currently owned by institutional investors and hedge funds.

AST SpaceMobile Trading Down 9.5 %

ASTS stock traded down $2.99 during mid-day trading on Friday, hitting $28.64. 9,828,955 shares of the company were exchanged, compared to its average volume of 13,743,771. The firm has a market capitalization of $8.30 billion, a P/E ratio of -13.51 and a beta of 1.62. AST SpaceMobile, Inc. has a 12-month low of $1.97 and a 12-month 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. The business has a fifty day simple moving average of $23.87 and a 200-day simple moving average of $25.28.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ASTS. Cantor Fitzgerald began coverage on shares of AST SpaceMobile in a research note on Thursday, February 6th. They issued an "overweight" rating and a $30.00 target price for the company. UBS Group upped their price objective on shares of AST SpaceMobile from $30.00 to $31.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. Finally, Scotiabank dropped their target price on shares of AST SpaceMobile from $44.70 to $40.20 and set a "sector outperform" rating for the company in a report on Friday, January 24th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $40.04.

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.