Oppenheimer & Co. Inc. Buys 47,600 Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS)

Oppenheimer & Co. Inc. lifted its position in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 6.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 846,072 shares of the company's stock after purchasing an additional 47,600 shares during the quarter. Oppenheimer & Co. Inc. owned about 0.31% of AST SpaceMobile worth $22,125,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. 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 worth $21,606,000 after purchasing an additional 5,046,667 shares during the period. Vanguard Group Inc. boosted its position in shares of AST SpaceMobile by 49.9% in the 1st quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company's stock worth $19,325,000 after buying an additional 2,217,531 shares in the last quarter. Masters Capital Management LLC purchased a new position in shares of AST SpaceMobile during the 1st quarter worth approximately $2,900,000. Privium Fund Management B.V. acquired a new position in shares of AST SpaceMobile in the third quarter worth $21,476,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of AST SpaceMobile during the 2nd quarter worth about $4,757,000. Institutional investors and hedge funds own 60.95% of the company's stock.

Insider Transactions at AST SpaceMobile

In related news, COO Shanti B. Gupta sold 80,000 shares of the business's stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $25.83, for a total value of $2,066,400.00. Following the completion of the transaction, the chief operating officer now owns 393,232 shares in the company, valued at $10,157,182.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, President Scott Wisniewski sold 2,700 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $23.12, for a total value of $62,424.00. Following the completion of the sale, the president now owns 712,660 shares of the company's stock, valued at approximately $16,476,699.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Shanti B. Gupta sold 80,000 shares of the company's stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $25.83, for a total value of $2,066,400.00. Following the completion of the sale, the chief operating officer now owns 393,232 shares in the company, valued at $10,157,182.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 127,700 shares of company stock valued at $3,220,524. Corporate insiders own 41.80% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on ASTS. Scotiabank increased their target price on AST SpaceMobile from $28.00 to $45.90 and gave the stock a "sector outperform" rating in a research report on Monday, August 26th. Deutsche Bank Aktiengesellschaft raised their target price on AST SpaceMobile from $22.00 to $63.00 and gave the company a "buy" rating in a research note on Wednesday, September 4th. B. Riley raised their price objective 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. Finally, 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.

AST SpaceMobile Price Performance

NASDAQ:ASTS traded up $3.63 during trading hours on Wednesday, hitting $27.89. 26,431,594 shares of the company's stock traded hands, compared to its average volume of 10,613,099. The stock's fifty day moving average price is $25.80 and its two-hundred day moving average price is $18.01. AST SpaceMobile, Inc. has a twelve month low of $1.97 and a twelve month high of $39.08. The company has a quick ratio of 6.38, a current ratio of 6.38 and a debt-to-equity ratio of 0.83.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.05. The business had revenue of $0.90 million for the quarter, compared to analyst estimates of $2.00 million. On average, sell-side analysts forecast that AST SpaceMobile, Inc. will post -0.88 EPS for the current fiscal year.

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.