DnB Asset Management AS Has $3.76 Million Holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS)

DnB Asset Management AS grew its position in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 73.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 178,268 shares of the company’s stock after purchasing an additional 75,442 shares during the quarter. DnB Asset Management AS owned about 0.06% of AST SpaceMobile worth $3,761,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its stake in shares of AST SpaceMobile by 228.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,131,705 shares of the company’s stock valued at $29,594,000 after acquiring an additional 787,566 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of AST SpaceMobile by 60.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 82,400 shares of the company’s stock worth $2,155,000 after purchasing an additional 31,191 shares in the last quarter. FMR LLC increased its holdings in shares of AST SpaceMobile by 230.5% during the third quarter. FMR LLC now owns 39,638 shares of the company’s stock worth $1,037,000 after purchasing an additional 27,644 shares during the period. MetLife Investment Management LLC raised its position in shares of AST SpaceMobile by 12.4% in the third quarter. MetLife Investment Management LLC now owns 76,302 shares of the company’s stock valued at $1,995,000 after buying an additional 8,441 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of AST SpaceMobile in the third quarter valued at approximately $626,000. Institutional investors own 60.95% of the company’s stock.

Wall Street Analysts Forecast Growth

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

AST SpaceMobile Price Performance

AST SpaceMobile stock opened at $22.74 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80. AST SpaceMobile, Inc. has a 52 week low of $1.97 and a 52 week high of $39.08. The stock has a market capitalization of $7.20 billion, a P/E ratio of -10.73 and a beta of 1.62. The stock has a fifty day moving average of $26.49 and a 200-day moving average of $25.10.

Insider Buying and Selling at AST SpaceMobile

In other news, Director Julio A. Torres sold 20,000 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 52,628 shares in the company, valued at approximately $1,617,258.44. This trade represents a 27.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company 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.