Zurcher Kantonalbank Zurich Cantonalbank Has $897,000 Stock Position in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 77.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 42,518 shares of the company's stock after buying an additional 18,596 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in AST SpaceMobile were worth $897,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ASTS. Golden State Wealth Management LLC acquired a new position in shares of AST SpaceMobile in the fourth quarter worth about $46,000. AlphaQuest LLC purchased a new stake in shares of AST SpaceMobile in the 4th quarter valued at approximately $67,000. SRS Capital Advisors Inc. grew its position in AST SpaceMobile by 554.5% during the 4th quarter. SRS Capital Advisors Inc. now owns 3,482 shares of the company's stock worth $73,000 after purchasing an additional 2,950 shares in the last quarter. Sunbelt Securities Inc. raised its stake in AST SpaceMobile by 3,380.0% during 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 period. Finally, KBC Group NV purchased a new stake in shares of AST SpaceMobile in the third quarter valued at $104,000. Institutional investors and hedge funds own 60.95% of the company's stock.

Insider Activity

In related news, Director Julio A. Torres sold 20,000 shares of the company's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $30.73, for a total transaction of $614,600.00. Following the completion of the transaction, the director now directly owns 52,628 shares in the company, valued at $1,617,258.44. This represents a 27.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 41.80% of the stock is owned by company insiders.

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AST SpaceMobile Stock Performance

Shares of NASDAQ ASTS traded up $3.59 during trading hours on Monday, hitting $29.30. 10,801,888 shares of the company's stock were exchanged, compared to its average volume of 12,004,717. The company's 50-day moving average price is $25.84 and its 200-day moving average price is $25.12. AST SpaceMobile, Inc. has a 1-year low of $1.97 and a 1-year high of $39.08. The stock has a market capitalization of $9.27 billion, a price-to-earnings ratio of -13.82 and a beta of 1.62. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80.

Analyst Upgrades and Downgrades

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