B. Riley Wealth Advisors 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 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.
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.
Check Out Our Latest Research Report on ASTS
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.
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