Oppenheimer & Co. Inc. bought a new stake in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 798,472 shares of the company's stock, valued at approximately $9,270,000. Oppenheimer & Co. Inc. owned 0.31% of AST SpaceMobile at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in ASTS. Janus Henderson Group PLC boosted its stake in AST SpaceMobile by 209.9% during the 1st quarter. Janus Henderson Group PLC now owns 7,450,467 shares of the company's stock valued at $21,606,000 after purchasing an additional 5,046,667 shares in the last quarter. Vanguard Group Inc. raised its position in AST SpaceMobile by 49.9% in the first quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company's stock worth $19,325,000 after acquiring an additional 2,217,531 shares in the last quarter. Broad Run Investment Management LLC lifted its holdings in AST SpaceMobile by 74.8% in the 4th quarter. Broad Run Investment Management LLC now owns 3,962,853 shares of the company's stock valued at $23,896,000 after acquiring an additional 1,695,805 shares during the last quarter. Masters Capital Management LLC acquired a new position in shares of AST SpaceMobile in the 1st quarter worth approximately $2,900,000. Finally, NewGen Asset Management Ltd bought a new stake in shares of AST SpaceMobile in the 2nd quarter worth approximately $2,902,000. Institutional investors own 60.95% of the company's stock.
AST SpaceMobile Trading Up 11.3 %
NASDAQ ASTS traded up $3.04 on Friday, hitting $29.83. 25,794,493 shares of the stock were exchanged, compared to its average volume of 10,452,717. The company's 50-day moving average price is $22.67 and its two-hundred day moving average price is $11.22. The company has a debt-to-equity ratio of 0.83, a current ratio of 6.38 and a quick ratio of 6.38. AST SpaceMobile, Inc. has a 52-week low of $1.97 and a 52-week high of $39.08. The company has a market capitalization of $8.04 billion, a price-to-earnings ratio of -30.44 and a beta of 1.63.
AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.14) earnings per share for the quarter, beating analysts' consensus estimates of ($0.19) by $0.05. The business had revenue of $0.90 million for the quarter, compared to analysts' expectations of $2.00 million. Research analysts predict that AST SpaceMobile, Inc. will post -0.88 EPS for the current year.
Insider Buying and Selling at AST SpaceMobile
In related news, Director Adriana Cisneros bought 4,934 shares of the business's stock in a transaction on Friday, September 6th. The stock was bought at an average price of $26.32 per share, for a total transaction of $129,862.88. Following the transaction, the director now directly owns 774,772 shares in the company, valued at $20,391,999.04. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 56.56% of the company's stock.
Analyst Ratings Changes
A number of analysts recently weighed in on the stock. B. Riley raised their target price on shares of AST SpaceMobile from $26.00 to $36.00 and gave the stock a "buy" rating in a report on Thursday, August 29th. UBS Group raised their price objective on AST SpaceMobile from $13.00 to $30.00 and gave the stock a "buy" rating in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft boosted their target price on AST SpaceMobile from $22.00 to $63.00 and gave the stock a "buy" rating in a research report on Wednesday, September 4th. Finally, Scotiabank increased their price target on AST SpaceMobile from $28.00 to $45.90 and gave the company a "sector outperform" rating in a research report on Monday, August 26th.
Check Out Our Latest Report on AST SpaceMobile
About AST SpaceMobile
(Free Report)
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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