ExodusPoint Capital Management LP Has $4.80 Million Stock Position in AST SpaceMobile, Inc. (NASDAQ:ASTS)

ExodusPoint Capital Management LP boosted its holdings in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 237.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 227,566 shares of the company's stock after acquiring an additional 160,068 shares during the quarter. ExodusPoint Capital Management LP owned 0.08% of AST SpaceMobile worth $4,802,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ASTS. Geode Capital Management LLC boosted its holdings in shares of AST SpaceMobile by 7.0% during the fourth quarter. Geode Capital Management LLC now owns 3,496,825 shares of the company's stock worth $73,801,000 after purchasing an additional 229,759 shares during the period. CIBC Private Wealth Group LLC boosted its stake in shares of AST SpaceMobile by 106.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company's stock valued at $53,000 after buying an additional 1,222 shares during the period. IPG Investment Advisors LLC boosted its stake in shares of AST SpaceMobile by 217.4% during the 4th quarter. IPG Investment Advisors LLC now owns 66,250 shares of the company's stock valued at $1,398,000 after buying an additional 45,375 shares during the period. Summit Securities Group LLC purchased a new position in shares of AST SpaceMobile during the 4th quarter valued at $37,000. Finally, DnB Asset Management AS increased its stake in shares of AST SpaceMobile by 73.4% in the fourth quarter. DnB Asset Management AS now owns 178,268 shares of the company's stock worth $3,761,000 after acquiring an additional 75,442 shares during the last quarter. Hedge funds and other institutional investors own 60.95% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Scotiabank restated an "outperform" rating on shares of AST SpaceMobile in a research note on Wednesday, March 5th. Cantor Fitzgerald reiterated an "overweight" rating and set a $30.00 price target on shares of AST SpaceMobile in a research note on Tuesday, March 4th. Finally, UBS Group increased their price objective on AST SpaceMobile from $31.00 to $38.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $42.98.

Insider Buying and Selling

In other AST SpaceMobile news, Director Julio A. Torres sold 20,000 shares of the firm's 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 completion of the sale, the director now owns 52,628 shares in the company, valued at approximately $1,617,258.44. This trade represents a 27.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 41.80% of the stock is currently owned by insiders.

AST SpaceMobile Stock Performance

ASTS traded up $3.84 during midday trading on Wednesday, reaching $24.14. The company's stock had a trading volume of 17,983,257 shares, compared to its average volume of 12,257,563. AST SpaceMobile, Inc. has a twelve month low of $1.99 and a twelve month high of $39.08. The stock has a market cap of $7.64 billion, a P/E ratio of -11.39 and a beta of 1.81. The company has a fifty day simple moving average of $26.78 and a 200 day simple moving average of $24.74. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31.

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.