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

SBI Securities Co. Ltd. acquired a new position in AST SpaceMobile, Inc. (NASDAQ:ASTS) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 37,020 shares of the company’s stock, valued at approximately $781,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ASTS. Private Advisor Group LLC grew its holdings in shares of AST SpaceMobile by 18.2% in the third quarter. Private Advisor Group LLC now owns 19,170 shares of the company’s stock valued at $501,000 after acquiring an additional 2,955 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in AST SpaceMobile by 2,418.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 31,027 shares of the company’s stock valued at $811,000 after purchasing an additional 29,795 shares during the period. Stephens Inc. AR bought a new position in AST SpaceMobile in the 3rd quarter valued at $266,000. Chicago Partners Investment Group LLC increased its position in shares of AST SpaceMobile by 7.0% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 51,854 shares of the company’s stock valued at $1,362,000 after purchasing an additional 3,370 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of AST SpaceMobile by 141.1% during 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 during the period. Hedge funds and other institutional investors own 60.95% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Scotiabank reduced their price target on shares of AST SpaceMobile from $44.70 to $40.20 and set a “sector outperform” rating for the company in a research report on Friday, January 24th. Cantor Fitzgerald raised shares of AST SpaceMobile to a “strong-buy” rating in a research report on Tuesday, February 25th. Finally, UBS Group lifted their price target on shares of AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $40.04.

AST SpaceMobile Price Performance

Shares of NASDAQ:ASTS opened at $25.62 on Tuesday. The firm has a market capitalization of $7.42 billion, a PE ratio of -12.08 and a beta of 1.62. 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 company has a 50-day moving average price of $24.26 and a two-hundred day moving average price of $25.49. AST SpaceMobile, Inc. has a twelve month low of $1.97 and a twelve month high of $39.08.

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.