Swiss National Bank Has $6.63 Million Stake in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Swiss National Bank raised its stake in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 18.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 314,000 shares of the company's stock after acquiring an additional 49,700 shares during the period. Swiss National Bank owned approximately 0.11% of AST SpaceMobile worth $6,625,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Golden State Wealth Management LLC bought a new stake in shares of AST SpaceMobile during the 4th quarter worth approximately $46,000. AlphaQuest LLC bought a new stake in AST SpaceMobile during the fourth quarter worth $67,000. SRS Capital Advisors Inc. boosted its holdings in shares of AST SpaceMobile by 554.5% in the 4th quarter. SRS Capital Advisors Inc. now owns 3,482 shares of the company's stock valued at $73,000 after purchasing an additional 2,950 shares in the last quarter. Sunbelt Securities Inc. increased its stake in shares of AST SpaceMobile by 3,380.0% in the 3rd quarter. Sunbelt Securities Inc. now owns 3,480 shares of the company's stock valued at $91,000 after purchasing an additional 3,380 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its position in shares of AST SpaceMobile by 667.1% during the 4th quarter. Jones Financial Companies Lllp now owns 5,454 shares of the company's stock worth $115,000 after buying an additional 4,743 shares during the last quarter. 60.95% of the stock is currently owned by institutional investors.

AST SpaceMobile Trading Down 4.4 %

Shares of NASDAQ:ASTS traded down $1.26 during mid-day trading on Wednesday, reaching $27.29. 5,704,652 shares of the company's stock were exchanged, compared to its average volume of 11,988,440. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80. AST SpaceMobile, Inc. has a twelve month low of $1.97 and a twelve month high of $39.08. The firm has a market capitalization of $8.64 billion, a price-to-earnings ratio of -12.87 and a beta of 1.62. The business's fifty day moving average price is $26.17 and its 200-day moving average price is $25.15.

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Insiders Place Their Bets

In related news, Director Julio A. Torres sold 20,000 shares of AST SpaceMobile stock in a transaction that occurred 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 transaction, the director now directly owns 52,628 shares of the company's stock, valued at $1,617,258.44. The trade was a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 41.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ASTS. Cantor Fitzgerald reiterated an "overweight" rating and issued a $30.00 target price on shares of AST SpaceMobile in a research report on Tuesday, March 4th. Scotiabank reiterated an "outperform" rating on shares of AST SpaceMobile in a research report on Wednesday, March 5th. Finally, UBS Group raised their target price on shares of AST SpaceMobile from $31.00 to $38.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $42.98.

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.