AST SpaceMobile, Inc. (NASDAQ:ASTS) Shares Bought by Van ECK Associates Corp

Van ECK Associates Corp lifted its position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 150.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 258,747 shares of the company’s stock after acquiring an additional 155,310 shares during the period. Van ECK Associates Corp owned 0.09% of AST SpaceMobile worth $5,460,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Hollencrest Capital Management bought a new position in AST SpaceMobile in the 3rd quarter worth about $26,000. Fairfield Financial Advisors LTD bought a new position in AST SpaceMobile in the 3rd quarter worth approximately $26,000. Golden State Wealth Management LLC acquired a new stake in AST SpaceMobile in the 4th quarter valued at approximately $46,000. Rakuten Securities Inc. bought a new stake in AST SpaceMobile during the 3rd quarter valued at $68,000. Finally, Sunbelt Securities Inc. boosted its position in AST SpaceMobile by 3,380.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 3,480 shares of the company’s stock worth $91,000 after acquiring an additional 3,380 shares during the period. Institutional investors and hedge funds own 60.95% of the company’s stock.

Analysts Set New Price Targets

ASTS has been the subject of several research reports. Cantor Fitzgerald started coverage on AST SpaceMobile in a research note on Thursday, February 6th. They set an “overweight” rating and a $30.00 price objective for the company. Scotiabank reduced their target price on AST SpaceMobile from $44.70 to $40.20 and set a “sector outperform” rating for the company in a report on Friday, January 24th. Finally, UBS Group increased their target price on AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a report on Friday, November 15th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, AST SpaceMobile presently has a consensus rating of “Buy” and an average price target of $40.04.

AST SpaceMobile Stock Down 3.7 %

ASTS stock opened at $30.90 on Wednesday. The stock has a market capitalization of $8.95 billion, a price-to-earnings ratio of -14.58 and a beta of 1.62. The company has a 50-day moving average of $23.45 and a two-hundred day moving average of $25.08. AST SpaceMobile, Inc. has a 52-week low of $1.97 and a 52-week 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.

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.