Rakuten Securities Inc. Has $202,000 Stake in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Rakuten Securities Inc. grew its stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 269.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 9,566 shares of the company’s stock after buying an additional 6,976 shares during the period. Rakuten Securities Inc.’s holdings in AST SpaceMobile were worth $202,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in ASTS. Amalgamated Bank grew its stake in shares of AST SpaceMobile by 17.4% in the 3rd quarter. Amalgamated Bank now owns 4,578 shares of the company’s stock valued at $120,000 after purchasing an additional 679 shares during the period. Americana Partners LLC boosted its stake in AST SpaceMobile by 5.2% in the 4th quarter. Americana Partners LLC now owns 27,047 shares of the company’s stock valued at $571,000 after buying an additional 1,326 shares in the last quarter. Colonial River Investments LLC raised its stake in AST SpaceMobile by 17.3% during the fourth quarter. Colonial River Investments LLC now owns 10,618 shares of the company’s stock worth $224,000 after acquiring an additional 1,564 shares in the last quarter. Golden State Wealth Management LLC acquired a new position in AST SpaceMobile during the fourth quarter worth $46,000. Finally, KBC Group NV lifted its holdings in shares of AST SpaceMobile by 63.8% during the fourth quarter. KBC Group NV now owns 6,509 shares of the company’s stock valued at $137,000 after acquiring an additional 2,536 shares during the period. Institutional investors own 60.95% of the company’s stock.

AST SpaceMobile Stock Performance

Shares of ASTS stock opened at $28.66 on Wednesday. The company has a fifty day moving average price of $25.23 and a two-hundred day moving average price of $25.34. AST SpaceMobile, Inc. has a one year low of $1.97 and a one year high of $39.08. The stock has a market cap of $9.07 billion, a P/E ratio of -13.52 and a beta of 1.62. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Scotiabank restated an “outperform” rating on shares of AST SpaceMobile in a research note on Wednesday, March 5th. UBS Group raised their price objective on shares of AST SpaceMobile from $31.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $30.00 price target on shares of AST SpaceMobile in a research note on Tuesday, March 4th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $42.98.

Insider Buying and Selling at AST SpaceMobile

In other AST SpaceMobile news, Director Julio A. Torres sold 20,000 shares of AST SpaceMobile stock in a transaction dated 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 41.80% of the company’s stock.

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.