FNY Investment Advisers LLC Purchases 11,948 Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS)

FNY Investment Advisers LLC grew its holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 31.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 50,124 shares of the company's stock after acquiring an additional 11,948 shares during the quarter. FNY Investment Advisers LLC's holdings in AST SpaceMobile were worth $1,139,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. GAMMA Investing LLC lifted its holdings in shares of AST SpaceMobile by 388.7% in the 1st quarter. GAMMA Investing LLC now owns 1,559 shares of the company's stock worth $35,000 after purchasing an additional 1,240 shares in the last quarter. Summit Securities Group LLC bought a new stake in AST SpaceMobile in the fourth quarter valued at approximately $37,000. Bernard Wealth Management Corp. bought a new position in shares of AST SpaceMobile during the fourth quarter valued at approximately $42,000. UMB Bank n.a. bought a new position in AST SpaceMobile in the first quarter worth $45,000. Finally, CIBC Private Wealth Group LLC increased its holdings in shares of 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 acquiring an additional 1,222 shares in the last quarter. Institutional investors and hedge funds own 60.95% of the company's stock.

AST SpaceMobile Stock Performance

ASTS stock traded down $1.81 during midday trading on Tuesday, reaching $40.10. The company's stock had a trading volume of 12,728,151 shares, compared to its average volume of 12,382,122. AST SpaceMobile, Inc. has a 52 week low of $9.32 and a 52 week high of $42.93. The business's 50-day simple moving average is $26.17 and its 200-day simple moving average is $25.20. The company has a debt-to-equity ratio of 0.60, a current ratio of 10.62 and a quick ratio of 10.62.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last announced 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 company had revenue of $0.72 million during the quarter, compared to analyst estimates of $3.85 million. Analysts predict that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current fiscal year.

Insider Buying and Selling at AST SpaceMobile

In related news, President Scott Wisniewski sold 50,000 shares of the business's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $35.65, for a total transaction of $1,782,500.00. Following the completion of the transaction, the president now owns 545,595 shares of the company's stock, valued at approximately $19,450,461.75. The trade was a 8.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Huiwen Yao sold 55,000 shares of the company's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $26.82, for a total transaction of $1,475,100.00. 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. Corporate insiders own 41.80% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on ASTS shares. B. Riley boosted their price target on AST SpaceMobile from $36.00 to $44.00 and gave the stock a "buy" rating in a report on Monday. UBS Group raised their target price on AST SpaceMobile from $31.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Oppenheimer began coverage on AST SpaceMobile in a research report on Monday, May 5th. They set a "market perform" rating on the stock. Roth Capital initiated coverage on AST SpaceMobile in a research note on Thursday, April 10th. They issued a "buy" rating and a $42.00 price objective for the company. Finally, Scotiabank decreased their target price on AST SpaceMobile from $47.90 to $45.40 and set a "sector outperform" rating for the company in a research report on Tuesday, May 13th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $43.73.

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.