FNY Investment Advisers LLC Has $1.14 Million Position in AST SpaceMobile, Inc. (NASDAQ:ASTS)

FNY Investment Advisers LLC increased its position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 31.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,124 shares of the company’s stock after purchasing an additional 11,948 shares during the period. FNY Investment Advisers LLC’s holdings in AST SpaceMobile were worth $1,139,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in AST SpaceMobile by 388.7% during the 1st quarter. GAMMA Investing LLC now owns 1,559 shares of the company’s stock worth $35,000 after purchasing an additional 1,240 shares during the last quarter. Summit Securities Group LLC bought a new position in AST SpaceMobile during the 4th quarter worth $37,000. Bernard Wealth Management Corp. bought a new position in AST SpaceMobile during the 4th quarter worth $42,000. UMB Bank n.a. bought a new position in AST SpaceMobile during the 1st quarter worth $45,000. Finally, CIBC Private Wealth Group LLC increased its stake in AST SpaceMobile by 106.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company’s stock worth $53,000 after acquiring an additional 1,222 shares during the period. 60.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on ASTS. Oppenheimer began coverage on AST SpaceMobile in a research note on Monday, May 5th. They set a “market perform” rating on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $30.00 price objective on shares of AST SpaceMobile in a research note on Tuesday, March 4th. Roth Capital began coverage on AST SpaceMobile in a research note on Thursday, April 10th. They set a “buy” rating and a $42.00 price objective on the stock. UBS Group raised their price objective on AST SpaceMobile from $31.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Finally, Scotiabank lowered their price objective on AST SpaceMobile from $47.90 to $45.40 and set a “sector outperform” rating on the stock in a research note on Tuesday, May 13th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.40.

Insider Activity

In related news, President Scott Wisniewski sold 50,000 shares of the business’s stock in a transaction on Monday, June 9th. The stock was sold at an average price of $35.65, for a total transaction of $1,782,500.00. Following the sale, the president now owns 545,595 shares in the company, valued at $19,450,461.75. The trade was a 8.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Huiwen Yao sold 55,000 shares of the business’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $26.82, for a total value of $1,475,100.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 174,250 shares of company stock worth $5,728,350. Insiders own 34.15% of the company’s stock.

AST SpaceMobile Trading Up 3.9%

Shares of ASTS opened at $38.37 on Monday. AST SpaceMobile, Inc. has a 52-week low of $9.32 and a 52-week high of $41.13. The business’s fifty day moving average is $25.74 and its 200-day moving average is $25.08. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80. The firm has a market cap of $12.14 billion, a price-to-earnings ratio of -18.10 and a beta of 2.02.

AST SpaceMobile (NASDAQ:ASTS) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.03). The firm had revenue of $0.72 million during the quarter, compared to the consensus estimate of $3.85 million. Equities analysts anticipate that AST SpaceMobile, Inc. will post -0.4 EPS for the current fiscal year.

AST SpaceMobile Company 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.