Rakuten Securities Inc. Buys 6,976 Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS)

Rakuten Securities Inc. raised its stake in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 269.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. 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 SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Amalgamated Bank raised its holdings in AST SpaceMobile by 17.4% during the 3rd quarter. Amalgamated Bank now owns 4,578 shares of the company’s stock worth $120,000 after purchasing an additional 679 shares during the last quarter. Americana Partners LLC increased its position in shares of AST SpaceMobile by 5.2% during the fourth quarter. Americana Partners LLC now owns 27,047 shares of the company’s stock worth $571,000 after buying an additional 1,326 shares during the period. 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 buying an additional 1,564 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in AST SpaceMobile in the fourth quarter valued at $46,000. Finally, KBC Group NV boosted its position in 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 last quarter. Institutional investors and hedge funds own 60.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on ASTS. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $30.00 target price on shares of AST SpaceMobile in a research note on Tuesday, March 4th. Scotiabank reaffirmed an “outperform” rating on shares of AST SpaceMobile in a research report on Wednesday, March 5th. Finally, UBS Group boosted their target price 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. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $42.98.

Insider Buying and Selling

In other news, Director Julio A. Torres sold 20,000 shares of AST SpaceMobile stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $30.73, for a total value of $614,600.00. Following the transaction, the director now owns 52,628 shares in the company, valued at approximately $1,617,258.44. The trade was a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 41.80% of the stock is currently owned by corporate insiders.

AST SpaceMobile Trading Down 1.6 %

Shares of ASTS stock opened at $28.66 on Wednesday. AST SpaceMobile, Inc. has a 52-week low of $1.97 and a 52-week high of $39.08. The business’s fifty day moving average is $25.23 and its 200 day moving average is $25.34. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80. The company has a market capitalization of $9.07 billion, a PE ratio of -13.52 and a beta of 1.62.

AST SpaceMobile Company 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.