Quinn Opportunity Partners LLC Purchases 11,500 Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS)

Quinn Opportunity Partners LLC grew its position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 8.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 145,500 shares of the company's stock after acquiring an additional 11,500 shares during the period. Quinn Opportunity Partners LLC owned about 0.05% of AST SpaceMobile worth $3,070,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Scotia Capital Inc. grew its stake in AST SpaceMobile by 16.0% in the fourth quarter. Scotia Capital Inc. now owns 69,799 shares of the company's stock worth $1,473,000 after purchasing an additional 9,635 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of AST SpaceMobile in the 4th quarter worth about $1,350,000. Advisory Services Network LLC purchased a new stake in shares of AST SpaceMobile in the 4th quarter worth about $1,192,000. Invesco Ltd. increased its stake in shares of AST SpaceMobile by 34.0% in the 4th quarter. Invesco Ltd. now owns 70,667 shares of the company's stock worth $1,491,000 after acquiring an additional 17,925 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in AST SpaceMobile by 25.2% during the 4th quarter. Wells Fargo & Company MN now owns 117,822 shares of the company's stock valued at $2,486,000 after acquiring an additional 23,746 shares during the period. Institutional investors own 60.95% of the company's stock.

Insiders Place Their Bets

In related news, Director Julio A. Torres sold 20,000 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $30.73, for a total value of $614,600.00. Following the transaction, the director now directly owns 52,628 shares of the company's stock, valued at approximately $1,617,258.44. This trade represents a 27.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 41.80% of the company's stock.

AST SpaceMobile Stock Performance

Shares of NASDAQ:ASTS traded down $0.19 during trading on Tuesday, hitting $22.72. The company's stock had a trading volume of 1,663,533 shares, compared to its average volume of 12,261,975. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80. The firm has a market cap of $7.19 billion, a price-to-earnings ratio of -10.72 and a beta of 1.81. The company has a 50-day moving average of $26.78 and a 200-day moving average of $24.70. AST SpaceMobile, Inc. has a 12 month low of $1.99 and a 12 month high of $39.08.

Wall Street Analyst Weigh In

ASTS has been the subject of a number of analyst reports. UBS Group raised their target price on shares of AST SpaceMobile from $31.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. Cantor Fitzgerald reissued an "overweight" rating and issued a $30.00 target price on shares of AST SpaceMobile in a research report on Tuesday, March 4th. Roth Capital began coverage on shares of AST SpaceMobile in a report on Thursday, April 10th. They set a "buy" rating and a $42.00 price target on the stock. Finally, Scotiabank reiterated an "outperform" rating on shares of AST SpaceMobile in a research note on Wednesday, March 5th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $42.82.

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.