ExodusPoint Capital Management LP Acquires 160,068 Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS)

ExodusPoint Capital Management LP lifted its holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 237.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 227,566 shares of the company’s stock after purchasing an additional 160,068 shares during the quarter. ExodusPoint Capital Management LP owned 0.08% of AST SpaceMobile worth $4,802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Geode Capital Management LLC lifted its stake in AST SpaceMobile by 7.0% during the 4th quarter. Geode Capital Management LLC now owns 3,496,825 shares of the company’s stock valued at $73,801,000 after acquiring an additional 229,759 shares during the period. CIBC Private Wealth Group LLC lifted its position in AST SpaceMobile by 106.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company’s stock valued at $53,000 after purchasing an additional 1,222 shares during the period. IPG Investment Advisors LLC lifted its position in AST SpaceMobile by 217.4% during the fourth quarter. IPG Investment Advisors LLC now owns 66,250 shares of the company’s stock valued at $1,398,000 after purchasing an additional 45,375 shares during the period. Summit Securities Group LLC bought a new stake in AST SpaceMobile in the 4th quarter worth approximately $37,000. Finally, DnB Asset Management AS raised its stake in AST SpaceMobile by 73.4% during the 4th quarter. DnB Asset Management AS now owns 178,268 shares of the company’s stock valued at $3,761,000 after buying an additional 75,442 shares during the last quarter. 60.95% of the stock is owned by institutional investors.

Insider Transactions at AST SpaceMobile

In other news, Director Julio A. Torres sold 20,000 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $30.73, for a total transaction of $614,600.00. Following the sale, the director now directly owns 52,628 shares in the company, valued at $1,617,258.44. This trade represents a 27.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 41.80% of the company’s stock.

AST SpaceMobile Price Performance

NASDAQ ASTS opened at $20.07 on Friday. The business’s fifty day moving average is $26.49 and its 200 day moving average is $24.91. AST SpaceMobile, Inc. has a fifty-two week low of $1.99 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 company has a market capitalization of $6.35 billion, a PE ratio of -9.47 and a beta of 1.81.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ASTS shares. Scotiabank restated an “outperform” rating on shares of AST SpaceMobile in a research note on Wednesday, March 5th. UBS Group raised their target price on AST SpaceMobile from $31.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $30.00 price target on shares of AST SpaceMobile in a research note on Tuesday, March 4th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $42.98.

AST SpaceMobile 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.