KLP Kapitalforvaltning AS Invests $709,000 in AST SpaceMobile, Inc. (NASDAQ:ASTS)

KLP Kapitalforvaltning AS purchased a new stake in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 33,600 shares of the company's stock, valued at approximately $709,000.

Other hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position 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 worth $85,450,000 after acquiring an additional 281,749 shares in the last quarter. State Street Corp lifted its position in shares of 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 purchasing an additional 399,713 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of AST SpaceMobile by 11.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,266,713 shares of the company's stock worth $26,728,000 after purchasing an additional 135,008 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of AST SpaceMobile by 0.9% in the fourth quarter. Oppenheimer & Co. Inc. now owns 854,063 shares of the company's stock valued at $18,021,000 after purchasing an additional 7,991 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in 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 valued at $13,539,000 after purchasing an additional 234,517 shares in the last quarter. 60.95% of the stock is owned by hedge funds and other institutional investors.

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Insider Transactions at AST SpaceMobile

In related news, Director Julio A. Torres sold 20,000 shares of the company'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 transaction of $614,600.00. Following the sale, the director now directly owns 52,628 shares of the company's stock, valued at approximately $1,617,258.44. This represents a 27.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 41.80% of the company's stock.

AST SpaceMobile Stock Down 3.7 %

NASDAQ:ASTS traded down $0.83 during mid-day trading on Thursday, reaching $21.58. The stock had a trading volume of 10,466,873 shares, compared to its average volume of 12,066,130. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80. The company has a market capitalization of $6.83 billion, a price-to-earnings ratio of -10.18 and a beta of 1.62. AST SpaceMobile, Inc. has a 1-year low of $1.98 and a 1-year high of $39.08. The stock's 50 day simple moving average is $26.46 and its two-hundred day simple moving average is $25.02.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Cantor Fitzgerald reissued an "overweight" rating and issued a $30.00 price objective on shares of AST SpaceMobile in a research report on Tuesday, March 4th. Scotiabank reissued an "outperform" rating on shares of AST SpaceMobile in a report on Wednesday, March 5th. Finally, UBS Group lifted their price objective on AST SpaceMobile from $31.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock 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.