B. Riley Wealth Advisors Inc. Invests $278,000 in AST SpaceMobile, Inc. (NASDAQ:ASTS)

B. Riley Wealth Advisors Inc. bought a new stake in AST SpaceMobile, Inc. (NASDAQ:ASTS) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 23,950 shares of the company’s stock, valued at approximately $278,000.

A number of other large investors also recently modified their holdings of the business. BNP Paribas acquired a new position in AST SpaceMobile during the 1st quarter valued at about $43,000. Principal Financial Group Inc. acquired a new position in shares of AST SpaceMobile during the first quarter valued at approximately $45,000. Cantor Fitzgerald L. P. acquired a new position in shares of AST SpaceMobile during the fourth quarter valued at approximately $66,000. Black Maple Capital Management LP bought a new stake in AST SpaceMobile during the first quarter worth approximately $87,000. Finally, Calton & Associates Inc. acquired a new stake in AST SpaceMobile in the second quarter worth approximately $128,000. 60.95% of the stock is owned by institutional investors and hedge funds.

AST SpaceMobile Trading Down 2.9 %

NASDAQ:ASTS opened at $24.20 on Wednesday. The stock has a fifty day simple moving average of $26.56 and a 200 day simple moving average of $13.86. The firm has a market capitalization of $6.23 billion, a price-to-earnings ratio of -24.69 and a beta of 1.62. AST SpaceMobile, Inc. has a 1-year low of $1.97 and a 1-year 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) last announced its earnings results on Wednesday, August 14th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.05. The firm had revenue of $0.90 million during the quarter, compared to analyst estimates of $2.00 million. Sell-side analysts forecast that AST SpaceMobile, Inc. will post -0.88 earnings per share for the current year.

Wall Street Analyst Weigh In

ASTS has been the topic of a number of research reports. UBS Group boosted 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. B. Riley boosted their price target on shares of AST SpaceMobile from $26.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. 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 report on Wednesday, September 4th. Finally, Scotiabank boosted their target price on shares of AST SpaceMobile from $28.00 to $45.90 and gave the stock a “sector outperform” rating in a report on Monday, August 26th.

Insider Buying and Selling

In other news, President Scott Wisniewski sold 2,700 shares of the stock in a transaction 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 in the company, valued at $16,476,699.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other AST SpaceMobile news, Director Adriana Cisneros acquired 4,934 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was purchased at an average cost of $26.32 per share, for a total transaction of $129,862.88. Following the transaction, the director now owns 774,772 shares of the company’s stock, valued at $20,391,999.04. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Scott Wisniewski sold 2,700 shares of AST SpaceMobile stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $23.12, for a total value of $62,424.00. Following the transaction, the president now directly owns 712,660 shares in the company, valued at approximately $16,476,699.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 56.56% of the company’s stock.

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.