New York State Common Retirement Fund Purchases 6,200 Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS)

New York State Common Retirement Fund raised its position in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 17.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,367 shares of the company’s stock after buying an additional 6,200 shares during the quarter. New York State Common Retirement Fund’s holdings in AST SpaceMobile were worth $894,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Hollencrest Capital Management bought a new stake in shares of AST SpaceMobile in the third quarter valued at $26,000. Golden State Wealth Management LLC bought a new stake in shares of AST SpaceMobile in the fourth quarter valued at $46,000. Rakuten Securities Inc. bought a new stake in shares of AST SpaceMobile in the third quarter valued at $68,000. Sunbelt Securities Inc. raised its stake in shares of AST SpaceMobile by 3,380.0% in the third quarter. Sunbelt Securities Inc. now owns 3,480 shares of the company’s stock valued at $91,000 after buying an additional 3,380 shares during the period. Finally, KBC Group NV bought a new stake in shares of AST SpaceMobile in the third quarter valued at $104,000. 60.95% of the stock is currently owned by institutional investors.

AST SpaceMobile Price Performance

Shares of NASDAQ ASTS opened at $25.62 on Tuesday. The stock has a market cap of $7.42 billion, a PE ratio of -12.08 and a beta of 1.62. AST SpaceMobile, Inc. has a fifty-two week low of $1.97 and a fifty-two 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 has a fifty day moving average of $24.26 and a 200-day moving average of $25.49.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ASTS. Scotiabank lowered their target price on 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. Cantor Fitzgerald upgraded AST SpaceMobile to a “strong-buy” rating in a research report on Tuesday, February 25th. Finally, UBS Group lifted their price target on AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Four equities research 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, AST SpaceMobile presently has an average rating of “Buy” and a consensus price target of $40.04.

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.