State of New Jersey Common Pension Fund D Acquires 21,585 Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS)

State of New Jersey Common Pension Fund D grew its holdings in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 36.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 80,305 shares of the company's stock after acquiring an additional 21,585 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in AST SpaceMobile were worth $1,694,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Hollencrest Capital Management purchased a new position in shares of AST SpaceMobile during the third quarter worth approximately $26,000. Fairfield Financial Advisors LTD purchased a new position in shares of AST SpaceMobile during the third quarter worth approximately $26,000. Golden State Wealth Management LLC purchased a new position in shares of AST SpaceMobile during the fourth quarter worth approximately $46,000. Rakuten Securities Inc. bought a new position in shares of AST SpaceMobile in the third quarter worth approximately $68,000. Finally, Sunbelt Securities Inc. grew its holdings in shares of AST SpaceMobile by 3,380.0% in the third quarter. Sunbelt Securities Inc. now owns 3,480 shares of the company's stock worth $91,000 after purchasing an additional 3,380 shares during the last quarter. 60.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. UBS Group raised their target price on shares of AST SpaceMobile from $30.00 to $31.00 and gave the stock a "buy" rating in a report on Friday, November 15th. Scotiabank cut their target price on shares of AST SpaceMobile from $44.70 to $40.20 and set a "sector outperform" rating on the stock in a report on Friday, January 24th. Finally, Cantor Fitzgerald upgraded shares of AST SpaceMobile to a "strong-buy" rating in a report on Tuesday. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $40.04.

AST SpaceMobile Trading Up 3.9 %

NASDAQ:ASTS traded up $1.03 during trading hours on Friday, hitting $27.11. The company had a trading volume of 9,518,736 shares, compared to its average volume of 11,852,060. The company has a market capitalization of $7.85 billion, a PE ratio of -12.79 and a beta of 1.62. The stock has a 50-day moving average price of $24.21 and a 200 day moving average price of $25.47. AST SpaceMobile, Inc. has a 52 week low of $1.97 and a 52 week high of $39.08. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80.

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.