Oppenheimer & Co. Inc. Makes New $9.27 Million Investment in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Oppenheimer & Co. Inc. acquired a new stake in AST SpaceMobile, Inc. (NASDAQ:ASTS) during the second quarter, Holdings Channel.com reports. The firm acquired 798,472 shares of the company’s stock, valued at approximately $9,270,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. BNP Paribas bought a new position in AST SpaceMobile during the first quarter worth $43,000. Principal Financial Group Inc. bought a new position in shares of AST SpaceMobile during the 1st quarter worth about $45,000. Victory Capital Management Inc. bought a new position in shares of AST SpaceMobile during the 4th quarter worth about $65,000. Cantor Fitzgerald L. P. acquired a new stake in shares of AST SpaceMobile in the 4th quarter valued at about $66,000. Finally, Rathbones Group PLC bought a new stake in AST SpaceMobile in the 4th quarter valued at about $76,000. Institutional investors own 60.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Scotiabank raised their price objective on AST SpaceMobile from $28.00 to $45.90 and gave the company a “sector outperform” rating in a research note on Monday, August 26th. B. Riley lifted their price target on shares of AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. UBS Group upped their price objective on shares of AST SpaceMobile from $13.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of AST SpaceMobile from $22.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th.

AST SpaceMobile Stock Up 11.3 %

ASTS stock opened at $29.83 on Friday. The firm has a market capitalization of $8.04 billion, a PE ratio of -30.44 and a beta of 1.63. 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, Inc. has a twelve month low of $1.97 and a twelve month high of $39.08. The stock’s 50 day moving average is $22.67 and its 200-day moving average is $11.17.

AST SpaceMobile (NASDAQ:ASTS) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.05. The company had revenue of $0.90 million for the quarter, compared to the consensus estimate of $2.00 million. Sell-side analysts expect that AST SpaceMobile, Inc. will post -0.88 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Adriana Cisneros acquired 4,934 shares of AST SpaceMobile stock in a transaction on Friday, September 6th. The stock was acquired at an average cost of $26.32 per share, with a total value of $129,862.88. Following the transaction, the director now owns 774,772 shares of the company’s stock, valued at approximately $20,391,999.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 56.56% of the stock is owned by corporate insiders.

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.