AST SpaceMobile, Inc. (NASDAQ:ASTS) Shares Acquired by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. lifted its position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 4.1% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 888,654 shares of the company's stock after purchasing an additional 34,591 shares during the quarter. Oppenheimer & Co. Inc. owned about 0.28% of AST SpaceMobile worth $20,208,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of ASTS. Charles Schwab Investment Management Inc. grew its stake in AST SpaceMobile by 11.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,266,713 shares of the company's stock worth $26,728,000 after buying an additional 135,008 shares during the period. Handelsbanken Fonder AB purchased a new stake in AST SpaceMobile during the 4th quarter worth $755,000. Wells Fargo & Company MN increased its holdings in AST SpaceMobile by 25.2% in the 4th quarter. Wells Fargo & Company MN now owns 117,822 shares of the company's stock valued at $2,486,000 after purchasing an additional 23,746 shares in the last quarter. Two Sigma Investments LP increased its holdings in AST SpaceMobile by 117.5% in the 4th quarter. Two Sigma Investments LP now owns 51,874 shares of the company's stock valued at $1,095,000 after purchasing an additional 28,025 shares in the last quarter. Finally, Toronto Dominion Bank purchased a new stake in shares of AST SpaceMobile in the fourth quarter worth about $4,220,000. Hedge funds and other institutional investors own 60.95% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ASTS. UBS Group upped their price target on AST SpaceMobile from $31.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Cantor Fitzgerald restated an "overweight" rating and issued a $30.00 target price on shares of AST SpaceMobile in a research note on Tuesday, March 4th. B. Riley reiterated a "buy" rating and issued a $44.00 price objective (up previously from $36.00) on shares of AST SpaceMobile in a report on Monday, June 16th. Scotiabank dropped their target price on AST SpaceMobile from $47.90 to $45.40 and set a "sector outperform" rating on the stock in a research report on Tuesday, May 13th. Finally, Roth Capital began coverage on AST SpaceMobile in a report on Thursday, April 10th. They issued a "buy" rating and a $42.00 price target for the company. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, AST SpaceMobile has an average rating of "Moderate Buy" and an average target price of $43.73.

Insiders Place Their Bets

In related news, CTO Huiwen Yao sold 55,000 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $26.82, for a total value of $1,475,100.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Scott Wisniewski sold 50,000 shares of the stock in a transaction on Monday, June 9th. The stock was sold at an average price of $35.65, for a total value of $1,782,500.00. Following the completion of the sale, the president now directly owns 545,595 shares in the company, valued at $19,450,461.75. This represents a 8.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 184,250 shares of company stock valued at $6,146,750. Company insiders own 41.80% of the company's stock.

AST SpaceMobile Price Performance

ASTS opened at $45.94 on Monday. The company has a market capitalization of $14.54 billion, a P/E ratio of -23.09 and a beta of 2.02. AST SpaceMobile, Inc. has a 1-year low of $9.32 and a 1-year high of $48.94. The company has a 50-day moving average of $27.77 and a 200-day moving average of $25.79. The company has a debt-to-equity ratio of 0.60, a quick ratio of 10.62 and a current ratio of 10.62.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.03). The firm had revenue of $0.72 million during the quarter, compared to analyst estimates of $3.85 million. AST SpaceMobile had a negative return on equity of 23.56% and a negative net margin of 7,033.22%. Equities analysts expect that AST SpaceMobile, Inc. will post -0.4 EPS for the current fiscal year.

AST SpaceMobile Company 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.

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