AST SpaceMobile, Inc. (NASDAQ:ASTS) Stock Holdings Increased by K2 Principal Fund L.P.

K2 Principal Fund L.P. lifted its holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 147.9% in the 4th quarter, HoldingsChannel reports. The firm owned 22,000 shares of the company’s stock after purchasing an additional 13,127 shares during the quarter. K2 Principal Fund L.P.’s holdings in AST SpaceMobile were worth $464,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in AST SpaceMobile by 49.4% in the fourth quarter. Vanguard Group Inc. now owns 14,987,351 shares of the company’s stock worth $316,233,000 after purchasing an additional 4,955,941 shares during the period. T. Rowe Price Investment Management Inc. bought a new position in shares of AST SpaceMobile in the fourth quarter valued at approximately $59,523,000. Bank of New York Mellon Corp increased its stake in shares of AST SpaceMobile by 57.6% during the fourth quarter. Bank of New York Mellon Corp now owns 641,678 shares of the company’s stock valued at $13,539,000 after acquiring an additional 234,517 shares during the period. Geode Capital Management LLC raised its holdings in AST SpaceMobile by 7.0% during the fourth quarter. Geode Capital Management LLC now owns 3,496,825 shares of the company’s stock worth $73,801,000 after purchasing an additional 229,759 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in AST SpaceMobile in the fourth quarter worth approximately $4,380,000. Institutional investors own 60.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ASTS shares. Roth Capital began coverage on AST SpaceMobile in a research note on Thursday, April 10th. They issued a “buy” rating and a $42.00 price objective on the stock. Oppenheimer started coverage on shares of AST SpaceMobile in a research report on Monday, May 5th. They issued a “market perform” rating on the stock. Scotiabank restated an “outperform” rating on shares of AST SpaceMobile in a research report on Wednesday, March 5th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 target price on shares of AST SpaceMobile in a report on Tuesday, March 4th. Finally, UBS Group raised their target price on shares of AST SpaceMobile from $31.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.82.

Insider Activity

In related news, Director Julio A. Torres sold 20,000 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $30.73, for a total value of $614,600.00. Following the completion of the sale, the director now directly owns 52,628 shares of the company’s stock, valued at approximately $1,617,258.44. This represents a 27.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 34.15% of the stock is currently owned by corporate insiders.

AST SpaceMobile Trading Up 2.0 %

AST SpaceMobile stock opened at $25.76 on Friday. AST SpaceMobile, Inc. has a 52 week low of $2.12 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 firm has a market capitalization of $8.15 billion, a price-to-earnings ratio of -12.15 and a beta of 2.05. The company has a 50 day moving average price of $24.88 and a 200 day moving average price of $24.48.

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.