State of New Jersey Common Pension Fund D Has $1.69 Million Stock Position in AST SpaceMobile, Inc. (NASDAQ:ASTS)

State of New Jersey Common Pension Fund D boosted its position in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 36.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 80,305 shares of the company’s stock after buying an additional 21,585 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in AST SpaceMobile were worth $1,694,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of ASTS. JPMorgan Chase & Co. raised its stake in AST SpaceMobile by 235.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 247,781 shares of the company’s stock valued at $6,479,000 after purchasing an additional 174,007 shares during the last quarter. Van ECK Associates Corp grew its position in AST SpaceMobile by 141.1% during the third quarter. Van ECK Associates Corp now owns 103,437 shares of the company’s stock worth $2,716,000 after buying an additional 60,530 shares in the last quarter. Algert Global LLC bought a new position in AST SpaceMobile during the third quarter valued at about $768,000. Americana Partners LLC acquired a new position in AST SpaceMobile in the 3rd quarter valued at approximately $673,000. Finally, Oppenheimer & Co. Inc. raised its holdings in AST SpaceMobile by 6.0% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 846,072 shares of the company’s stock valued at $22,125,000 after acquiring an additional 47,600 shares in the last quarter. Institutional investors own 60.95% of the company’s stock.

AST SpaceMobile Trading Down 8.4 %

NASDAQ ASTS opened at $26.17 on Wednesday. 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 quick ratio of 5.80 and a current ratio of 5.80. The stock’s 50 day moving average price is $23.99 and its two-hundred day moving average price is $25.40. The stock has a market capitalization of $7.58 billion, a price-to-earnings ratio of -12.34 and a beta of 1.62.

Analyst Upgrades and Downgrades

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

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.