Swiss National Bank Invests $6.91 Million in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Swiss National Bank purchased a new stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 264,300 shares of the company’s stock, valued at approximately $6,911,000. Swiss National Bank owned approximately 0.10% of AST SpaceMobile at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Fairfield Financial Advisors LTD acquired a new stake in shares of AST SpaceMobile in the third quarter valued at $26,000. Hollencrest Capital Management acquired a new stake in AST SpaceMobile in the 3rd quarter valued at about $26,000. Rakuten Securities Inc. bought a new position in shares of AST SpaceMobile in the third quarter worth about $68,000. KBC Group NV acquired a new position in shares of AST SpaceMobile during the third quarter worth approximately $104,000. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of AST SpaceMobile during the third quarter valued at approximately $105,000. Institutional investors own 60.95% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on ASTS. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of AST SpaceMobile from $22.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Scotiabank cut 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. B. Riley lifted their price objective on AST SpaceMobile from $26.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, UBS Group upped their target price on shares of AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, November 15th.

Insiders Place Their Bets

In related news, President Scott Wisniewski sold 2,700 shares of AST SpaceMobile stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $23.12, for a total transaction of $62,424.00. Following the transaction, the president now owns 712,660 shares of the company’s stock, valued at $16,476,699.20. This trade represents a 0.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Huiwen Yao sold 45,000 shares of the company’s stock in a transaction that occurred on 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 sale, 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 quarter, insiders have sold 127,700 shares of company stock worth $3,220,524. Insiders own 41.80% of the company’s stock.

AST SpaceMobile Stock Down 3.4 %

NASDAQ:ASTS opened at $23.39 on Wednesday. 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 12-month low of $1.97 and a 12-month high of $39.08. The stock’s fifty day simple moving average is $25.26 and its 200-day simple moving average is $19.46. The firm has a market capitalization of $6.78 billion, a P/E ratio of -11.03 and a beta of 1.64.

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.