Zurcher Kantonalbank Zurich Cantonalbank Makes New $626,000 Investment in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 23,922 shares of the company's stock, valued at approximately $626,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. FORA Capital LLC purchased a new stake in shares of AST SpaceMobile in the 3rd quarter valued at approximately $4,215,000. MetLife Investment Management LLC increased its stake in AST SpaceMobile by 12.4% during the third quarter. MetLife Investment Management LLC now owns 76,302 shares of the company's stock worth $1,995,000 after acquiring an additional 8,441 shares during the last quarter. FMR LLC raised its position in AST SpaceMobile by 230.5% in the third quarter. FMR LLC now owns 39,638 shares of the company's stock valued at $1,037,000 after purchasing an additional 27,644 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of AST SpaceMobile by 60.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 82,400 shares of the company's stock valued at $2,155,000 after purchasing an additional 31,191 shares during the last quarter. Finally, Qsemble Capital Management LP purchased a new position in shares of AST SpaceMobile during the 3rd quarter worth $1,354,000. Hedge funds and other institutional investors own 60.95% of the company's stock.

Insider Buying and Selling at AST SpaceMobile

In other news, COO Shanti B. Gupta sold 80,000 shares of the company's stock in a transaction on Monday, September 30th. The stock was sold at an average price of $25.83, for a total value of $2,066,400.00. Following the sale, the chief operating officer now directly owns 393,232 shares in the company, valued at $10,157,182.56. This represents a 16.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Huiwen Yao sold 45,000 shares of the business's stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $24.26, for a total transaction of $1,091,700.00. Following the completion of the transaction, the chief technology officer now directly owns 55,000 shares of the company's stock, valued at $1,334,300. The trade was a 45.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 127,700 shares of company stock valued at $3,220,524. Insiders own 41.80% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of AST SpaceMobile from $22.00 to $63.00 and gave the stock a "buy" rating in a research note on Wednesday, September 4th. Scotiabank decreased their price target on AST SpaceMobile from $45.90 to $44.70 and set a "sector outperform" rating on the stock in a research note on Friday, November 15th. UBS Group lifted their price objective on AST SpaceMobile from $30.00 to $31.00 and gave the company a "buy" rating in a research note on Friday, November 15th. Finally, B. Riley raised their target price on AST SpaceMobile from $26.00 to $36.00 and gave the company a "buy" rating in a report on Thursday, August 29th.

AST SpaceMobile Stock Up 12.5 %

NASDAQ:ASTS traded up $2.81 during mid-day trading on Friday, hitting $25.32. The stock had a trading volume of 13,115,303 shares, compared to its average volume of 10,400,766. AST SpaceMobile, Inc. has a twelve month low of $1.97 and a twelve month high of $39.08. The company has a market capitalization of $7.34 billion, a PE ratio of -11.94 and a beta of 1.60. The stock has a 50-day simple moving average of $24.72 and a two-hundred day simple moving average of $20.60. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31.

AST SpaceMobile 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.