Handelsbanken Fonder AB Buys Shares of 35,800 AST SpaceMobile, Inc. (NASDAQ:ASTS)

Handelsbanken Fonder AB bought a new stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 35,800 shares of the company's stock, valued at approximately $755,000.

A number of other institutional investors and hedge funds have also made changes to their positions in ASTS. Fairfield Financial Advisors LTD acquired a new position in shares of AST SpaceMobile during the third quarter valued at $26,000. Hollencrest Capital Management bought a new position in AST SpaceMobile in the 3rd quarter valued at about $26,000. Golden State Wealth Management LLC bought a new stake in shares of AST SpaceMobile during the 4th quarter worth about $46,000. Rakuten Securities Inc. acquired a new stake in shares of AST SpaceMobile in the 3rd quarter worth approximately $68,000. Finally, Sunbelt Securities Inc. boosted 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 valued at $91,000 after acquiring an additional 3,380 shares in the last quarter. 60.95% of the stock is currently owned by institutional investors and hedge funds.

AST SpaceMobile Stock Up 14.8 %

Shares of NASDAQ:ASTS traded up $3.79 during trading on Tuesday, reaching $29.41. 20,481,591 shares of the company traded hands, compared to its average volume of 12,119,938. The firm has a fifty day simple moving average of $24.26 and a 200 day simple moving average of $25.49. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31. AST SpaceMobile, Inc. has a 1-year low of $1.97 and a 1-year high of $39.08. The firm has a market cap of $8.52 billion, a P/E ratio of -13.93 and a beta of 1.62.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. UBS Group lifted their price target on AST SpaceMobile from $30.00 to $31.00 and gave the company a "buy" rating in a research report on Friday, November 15th. Scotiabank dropped 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 reissued an "overweight" rating and issued a $30.00 price target on shares of AST SpaceMobile in a research note on Tuesday. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $40.04.

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.