Oppenheimer & Co. Inc. Buys 7,991 Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS)

Oppenheimer & Co. Inc. raised its stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 0.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 854,063 shares of the company’s stock after purchasing an additional 7,991 shares during the period. Oppenheimer & Co. Inc. owned 0.29% of AST SpaceMobile worth $18,021,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of ASTS. Privium Fund Management B.V. bought a new stake in AST SpaceMobile during the third quarter valued at about $21,476,000. Charles Schwab Investment Management Inc. lifted its position in shares of AST SpaceMobile by 228.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,131,705 shares of the company’s stock valued at $29,594,000 after acquiring an additional 787,566 shares in the last quarter. State Street Corp lifted its position in shares of AST SpaceMobile by 14.8% in the third quarter. State Street Corp now owns 3,091,577 shares of the company’s stock valued at $80,845,000 after acquiring an additional 399,713 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of AST SpaceMobile by 9.4% in the third quarter. Geode Capital Management LLC now owns 3,267,066 shares of the company’s stock valued at $85,450,000 after acquiring an additional 281,749 shares in the last quarter. Finally, Swiss National Bank purchased a new position in shares of AST SpaceMobile in the third quarter valued at about $6,911,000. Institutional investors own 60.95% of the company’s stock.

AST SpaceMobile Price Performance

NASDAQ:ASTS opened at $27.24 on Thursday. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $7.89 billion, a P/E ratio of -12.85 and a beta of 1.62. AST SpaceMobile, Inc. has a 12 month low of $1.97 and a 12 month high of $39.08. The business’s 50-day moving average is $24.07 and its 200 day moving average is $25.41.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ASTS. Cantor Fitzgerald upgraded AST SpaceMobile to a “strong-buy” rating in a research report on Tuesday. Scotiabank lowered their price objective on AST SpaceMobile from $44.70 to $40.20 and set a “sector outperform” rating on the stock in a research report on Friday, January 24th. Finally, UBS Group boosted their price objective on AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $40.04.

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.