Oppenheimer & Co. Inc. Acquires 34,591 Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS)

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

Several other large investors have also bought and sold shares of ASTS. GAMMA Investing LLC increased its position in AST SpaceMobile by 388.7% during the 1st quarter. GAMMA Investing LLC now owns 1,559 shares of the company's stock valued at $35,000 after purchasing an additional 1,240 shares during the period. Summit Securities Group LLC acquired a new position in shares of AST SpaceMobile in the 4th quarter valued at about $37,000. Bernard Wealth Management Corp. bought a new stake in shares of AST SpaceMobile during the 4th quarter valued at about $42,000. UMB Bank n.a. bought a new stake in AST SpaceMobile in the first quarter worth approximately $45,000. Finally, ORG Partners LLC acquired a new position in AST SpaceMobile in the first quarter valued at approximately $48,000. 60.95% of the stock is owned by institutional investors.

AST SpaceMobile Stock Up 1.3%

Shares of ASTS traded up $0.65 during trading hours on Thursday, reaching $50.62. 14,123,404 shares of the stock traded hands, compared to its average volume of 12,647,591. AST SpaceMobile, Inc. has a 52 week low of $10.17 and a 52 week high of $54.05. The company has a market cap of $16.02 billion, a price-to-earnings ratio of -25.44 and a beta of 2.02. The stock has a fifty day simple moving average of $30.02 and a 200 day simple moving average of $26.48. The company has a current ratio of 10.62, a quick ratio of 10.62 and a debt-to-equity ratio of 0.60.

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ASTS shares. Bank of America started coverage on shares of AST SpaceMobile in a research note on Wednesday. They issued a "neutral" rating and a $55.00 price target for the company. UBS Group boosted their price objective on AST SpaceMobile from $31.00 to $38.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. Scotiabank reissued a "sector perform" rating and issued a $45.40 price target on shares of AST SpaceMobile in a research report on Monday. Roth Capital initiated coverage on shares of AST SpaceMobile in a research note on Thursday, April 10th. They set a "buy" rating and a $42.00 price target for the company. Finally, Oppenheimer initiated coverage on shares of AST SpaceMobile in a report on Monday, May 5th. They set a "market perform" rating on the stock. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, AST SpaceMobile currently has an average rating of "Moderate Buy" and an average price target of $45.34.

Insider Transactions at AST SpaceMobile

In other AST SpaceMobile news, CTO Huiwen Yao sold 4,250 shares of the business's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $34.60, for a total value of $147,050.00. Following the sale, the chief technology officer now directly owns 20,750 shares in the company, valued at $717,950. The trade was a 17.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Shanti B. Gupta sold 10,000 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $41.84, for a total value of $418,400.00. Following the transaction, the chief operating officer now owns 305,667 shares of the company's stock, valued at $12,789,107.28. The trade was a 3.17% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 184,250 shares of company stock worth $6,146,750 in the last ninety days. Company insiders own 34.15% of the company's stock.

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.