SBI Securities Co. Ltd. Acquires New Shares in AST SpaceMobile, Inc. (NASDAQ:ASTS)

SBI Securities Co. Ltd. bought a new position in AST SpaceMobile, Inc. (NASDAQ:ASTS) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 37,020 shares of the company’s stock, valued at approximately $781,000.

Other hedge funds have also added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in shares of AST SpaceMobile by 235.9% in the third quarter. JPMorgan Chase & Co. now owns 247,781 shares of the company’s stock worth $6,479,000 after buying an additional 174,007 shares in the last quarter. Van ECK Associates Corp lifted its stake in AST SpaceMobile by 141.1% in the 3rd quarter. Van ECK Associates Corp now owns 103,437 shares of the company’s stock worth $2,716,000 after purchasing an additional 60,530 shares in the last quarter. Algert Global LLC bought a new position in AST SpaceMobile in the 3rd quarter valued at $768,000. Handelsbanken Fonder AB purchased a new position in shares of AST SpaceMobile during the 4th quarter valued at $755,000. Finally, Oppenheimer & Co. Inc. increased its holdings in shares of AST SpaceMobile by 6.0% in the third quarter. Oppenheimer & Co. Inc. now owns 846,072 shares of the company’s stock worth $22,125,000 after purchasing an additional 47,600 shares during the period. Hedge funds and other institutional investors own 60.95% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ASTS. Scotiabank dropped their price objective on AST SpaceMobile from $44.70 to $40.20 and set a “sector outperform” rating for the company in a research note on Friday, January 24th. Cantor Fitzgerald upgraded AST SpaceMobile to a “strong-buy” rating in a research report on Tuesday, February 25th. Finally, UBS Group upped their price objective on shares of AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $40.04.

AST SpaceMobile Trading Down 5.5 %

NASDAQ ASTS opened at $25.62 on Tuesday. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31. The stock’s 50-day simple moving average is $24.26 and its two-hundred day simple moving average is $25.49. 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 $7.42 billion, a price-to-earnings ratio of -12.08 and a beta of 1.62.

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.