Oppenheimer Begins Coverage on AST SpaceMobile (NASDAQ:ASTS)

Research analysts at Oppenheimer assumed coverage on shares of AST SpaceMobile (NASDAQ:ASTS) in a research note issued on Monday, MarketBeat reports. The firm set a “market perform” rating on the stock.

Other research analysts have also issued reports about the stock. UBS Group increased their price objective on shares of AST SpaceMobile from $31.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Roth Capital began coverage on shares of AST SpaceMobile in a research note on Thursday, April 10th. They set a “buy” rating and a $42.00 price target on the stock. Scotiabank reissued an “outperform” rating on shares of AST SpaceMobile in a research note on Wednesday, March 5th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $30.00 price objective on shares of AST SpaceMobile in a report on Tuesday, March 4th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, AST SpaceMobile has an average rating of “Moderate Buy” and an average price target of $42.82.

AST SpaceMobile Stock Performance

AST SpaceMobile stock opened at $25.15 on Monday. The stock has a fifty day moving average price of $24.98 and a 200 day moving average price of $24.52. AST SpaceMobile has a 52 week low of $2.12 and a 52 week high of $39.08. The firm has a market capitalization of $7.96 billion, a P/E ratio of -11.86 and a beta of 2.05. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31.

Insider Buying and Selling

In other news, Director Julio A. Torres sold 20,000 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $30.73, for a total transaction of $614,600.00. Following the completion of the sale, the director now directly owns 52,628 shares in the company, valued at $1,617,258.44. This trade represents a 27.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 41.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AST SpaceMobile

Hedge funds have recently bought and sold shares of the business. Sunbelt Securities Inc. raised its position in shares of AST SpaceMobile by 61.9% in the 1st quarter. Sunbelt Securities Inc. now owns 1,321 shares of the company’s stock valued at $30,000 after purchasing an additional 505 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of AST SpaceMobile by 388.7% in the first quarter. GAMMA Investing LLC now owns 1,559 shares of the company’s stock worth $35,000 after buying an additional 1,240 shares during the last quarter. Summit Securities Group LLC bought a new position in AST SpaceMobile during the 4th quarter valued at $37,000. Financial Gravity Asset Management Inc. acquired a new position in AST SpaceMobile during the 1st quarter worth $41,000. Finally, Close Asset Management Ltd grew its holdings in AST SpaceMobile by 72.4% during the 1st quarter. Close Asset Management Ltd now owns 1,810 shares of the company’s stock worth $41,000 after acquiring an additional 760 shares in the last quarter. Institutional investors and hedge funds own 60.95% 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.