DnB Asset Management AS Purchases 75,442 Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS)

DnB Asset Management AS raised its position in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 73.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 178,268 shares of the company’s stock after buying an additional 75,442 shares during the period. DnB Asset Management AS’s holdings in AST SpaceMobile were worth $3,761,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Xponance Inc. grew its holdings in shares of AST SpaceMobile by 8.7% during the fourth quarter. Xponance Inc. now owns 9,676 shares of the company’s stock worth $204,000 after purchasing an additional 772 shares during the last quarter. Americana Partners LLC grew its holdings in AST SpaceMobile by 5.2% during the 4th quarter. Americana Partners LLC now owns 27,047 shares of the company’s stock worth $571,000 after acquiring an additional 1,326 shares during the last quarter. Axxcess Wealth Management LLC grew its holdings in AST SpaceMobile by 16.7% during the 4th quarter. Axxcess Wealth Management LLC now owns 10,562 shares of the company’s stock worth $223,000 after acquiring an additional 1,508 shares during the last quarter. Colonial River Investments LLC raised its stake in shares of AST SpaceMobile by 17.3% during the fourth quarter. Colonial River Investments LLC now owns 10,618 shares of the company’s stock valued at $224,000 after acquiring an additional 1,564 shares during the last quarter. Finally, SouthState Corp lifted its holdings in shares of AST SpaceMobile by 6.5% during the fourth quarter. SouthState Corp now owns 32,542 shares of the company’s stock worth $687,000 after purchasing an additional 2,000 shares during the period. 60.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling at AST SpaceMobile

In other news, Director Julio A. Torres sold 20,000 shares of AST SpaceMobile stock in a transaction on Monday, March 10th. The shares were sold at an average price of $30.73, for a total value of $614,600.00. Following the completion of the sale, the director now owns 52,628 shares in the company, valued at $1,617,258.44. The trade was a 27.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 41.80% of the company’s stock.

AST SpaceMobile Stock Down 5.5 %

Shares of NASDAQ:ASTS opened at $22.74 on Tuesday. AST SpaceMobile, Inc. has a 1 year low of $1.97 and a 1 year high of $39.08. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80. The business’s 50-day moving average is $26.49 and its 200-day moving average is $25.10. The company has a market capitalization of $7.20 billion, a price-to-earnings ratio of -10.73 and a beta of 1.62.

Analyst Ratings Changes

ASTS has been the subject of several analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $30.00 target price on shares of AST SpaceMobile in a research report on Tuesday, March 4th. UBS Group raised their price objective on AST SpaceMobile from $31.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Finally, Scotiabank reiterated an “outperform” rating on shares of AST SpaceMobile in a report on Wednesday, March 5th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $42.98.

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.