AST SpaceMobile, Inc. (NASDAQ:ASTS) Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. reduced its stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 13.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 10,119 shares of the company’s stock after selling 1,511 shares during the period. Vontobel Holding Ltd.’s holdings in AST SpaceMobile were worth $214,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its position in AST SpaceMobile by 9.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,267,066 shares of the company’s stock worth $85,450,000 after purchasing an additional 281,749 shares during the period. State Street Corp grew its position in AST SpaceMobile by 14.8% during the 3rd quarter. State Street Corp now owns 3,091,577 shares of the company’s stock worth $80,845,000 after purchasing an additional 399,713 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of AST SpaceMobile by 228.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,131,705 shares of the company’s stock worth $29,594,000 after acquiring an additional 787,566 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of AST SpaceMobile by 6.0% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 846,072 shares of the company’s stock worth $22,125,000 after acquiring an additional 47,600 shares in the last quarter. Finally, Privium Fund Management B.V. purchased a new stake in shares of AST SpaceMobile during the 3rd quarter worth about $21,476,000. 60.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ASTS shares. Cantor Fitzgerald started coverage on shares of AST SpaceMobile in a research note on Thursday, February 6th. They set an “overweight” rating and a $30.00 target price on the stock. 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. Finally, UBS Group increased their target price on shares of AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, AST SpaceMobile has a consensus rating of “Buy” and an average target price of $40.04.

AST SpaceMobile Trading Down 9.5 %

Shares of AST SpaceMobile stock opened at $28.64 on Friday. The firm has a market capitalization of $8.30 billion, a PE ratio of -13.51 and a beta of 1.62. AST SpaceMobile, Inc. has a twelve month low of $1.97 and a twelve month high of $39.08. The firm’s 50-day moving average price is $23.87 and its 200 day moving average price is $25.24. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31.

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.