DNB Asset Management AS Acquires 127,944 Shares of AST SpaceMobile, Inc. $ASTS

DNB Asset Management AS boosted its holdings in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 88.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 272,669 shares of the company’s stock after acquiring an additional 127,944 shares during the period. DNB Asset Management AS owned 0.08% of AST SpaceMobile worth $13,383,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ASTS. Vanguard Group Inc. lifted its holdings in shares of AST SpaceMobile by 13.4% during the third quarter. Vanguard Group Inc. now owns 19,919,888 shares of the company’s stock valued at $977,668,000 after purchasing an additional 2,351,539 shares during the last quarter. Invesco Ltd. increased its position in AST SpaceMobile by 610.4% during the 2nd quarter. Invesco Ltd. now owns 475,531 shares of the company’s stock valued at $22,222,000 after buying an additional 408,595 shares in the last quarter. Quadrature Capital Ltd raised its stake in AST SpaceMobile by 170.7% during the second quarter. Quadrature Capital Ltd now owns 569,785 shares of the company’s stock valued at $26,620,000 after buying an additional 359,335 shares during the last quarter. Penserra Capital Management LLC raised its stake in AST SpaceMobile by 320.5% during the second quarter. Penserra Capital Management LLC now owns 398,563 shares of the company’s stock valued at $18,624,000 after buying an additional 303,784 shares during the last quarter. Finally, Greenhaven Road Investment Management L.P. bought a new stake in AST SpaceMobile in the second quarter worth $12,524,000. Hedge funds and other institutional investors own 60.95% of the company’s stock.

Analyst Ratings Changes

ASTS has been the subject of several analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of AST SpaceMobile in a report on Monday, December 29th. B. Riley Financial cut their price objective on shares of AST SpaceMobile from $105.00 to $95.00 and set a “neutral” rating on the stock in a research report on Friday, February 13th. Zacks Research lowered shares of AST SpaceMobile from a “hold” rating to a “strong sell” rating in a research note on Friday, January 9th. Scotiabank downgraded shares of AST SpaceMobile from a “sector perform” rating to a “sector underperform” rating and set a $45.60 target price on the stock. in a research note on Wednesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of AST SpaceMobile in a report on Tuesday, January 20th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $52.94.

AST SpaceMobile Price Performance

Shares of NASDAQ:ASTS opened at $79.19 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 9.48 and a current ratio of 9.56. The firm has a market cap of $29.06 billion, a price-to-earnings ratio of -63.86 and a beta of 2.70. The business has a 50-day simple moving average of $93.69 and a two-hundred day simple moving average of $72.54. AST SpaceMobile, Inc. has a fifty-two week low of $18.22 and a fifty-two week high of $129.89.

Insider Activity

In related news, CTO Huiwen Yao sold 40,000 shares of the stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $73.52, for a total transaction of $2,940,800.00. Following the transaction, the chief technology officer owned 4,750 shares in the company, valued at $349,220. This represents a 89.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Shanti B. Gupta sold 10,000 shares of AST SpaceMobile stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $77.34, for a total transaction of $773,400.00. Following the completion of the sale, the chief operating officer directly owned 382,375 shares of the company’s stock, valued at approximately $29,572,882.50. This trade represents a 2.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders bought 2,015 shares of company stock valued at $149,144 and sold 2,344,621 shares valued at $163,788,075. Company insiders own 30.90% of the company’s stock.

AST SpaceMobile Company Profile

AST SpaceMobile is a U.S.-based aerospace company developing a space-based cellular broadband network designed to connect standard mobile phones and other devices directly to satellites. The company’s core proposition is “space-to-cell” service: operating a constellation of low-Earth-orbit (LEO) satellites equipped with large, high-power phased-array antennas to provide wide-area mobile broadband without requiring users to buy specialized terminals or handset modifications.

AST SpaceMobile designs, builds and operates satellite payloads and supporting ground infrastructure.