Traynor Capital Management Inc. Acquires Shares of 10,536 AST SpaceMobile, Inc. (NASDAQ:ASTS)

Traynor Capital Management Inc. bought a new position in AST SpaceMobile, Inc. (NASDAQ:ASTS) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 10,536 shares of the company’s stock, valued at approximately $276,000.

A number of other institutional investors have also made changes to their positions in ASTS. Nisa Investment Advisors LLC grew its position in shares of AST SpaceMobile by 2,418.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 31,027 shares of the company’s stock valued at $811,000 after buying an additional 29,795 shares during the last quarter. Allworth Financial LP grew its holdings in shares of AST SpaceMobile by 3,554.0% during the third quarter. Allworth Financial LP now owns 9,208 shares of the company’s stock valued at $241,000 after purchasing an additional 8,956 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of AST SpaceMobile in the 3rd quarter worth approximately $7,260,000. Private Advisor Group LLC boosted its position in AST SpaceMobile by 18.2% during the 3rd quarter. Private Advisor Group LLC now owns 19,170 shares of the company’s stock valued at $501,000 after purchasing an additional 2,955 shares during the period. Finally, Calton & Associates Inc. increased its position in AST SpaceMobile by 14.5% in the third quarter. Calton & Associates Inc. now owns 12,600 shares of the company’s stock worth $329,000 after buying an additional 1,600 shares during the period. 60.95% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other AST SpaceMobile news, Director Adriana Cisneros acquired 4,934 shares of AST SpaceMobile stock in a transaction dated Friday, September 6th. The stock was bought at an average price of $26.32 per share, for a total transaction of $129,862.88. Following the transaction, the director now owns 774,772 shares in the company, valued at approximately $20,391,999.04. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, President Scott Wisniewski sold 2,700 shares of the company’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $23.12, for a total transaction of $62,424.00. Following the completion of the sale, the president now directly owns 712,660 shares of the company’s stock, valued at $16,476,699.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Adriana Cisneros purchased 4,934 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average cost of $26.32 per share, for a total transaction of $129,862.88. Following the purchase, the director now directly owns 774,772 shares in the company, valued at $20,391,999.04. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 127,700 shares of company stock worth $3,220,524. 41.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on ASTS shares. UBS Group upped their price target on shares of AST SpaceMobile from $13.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Scotiabank raised their price target on shares of AST SpaceMobile from $28.00 to $45.90 and gave the company a “sector outperform” rating in a research note on Monday, August 26th. Deutsche Bank Aktiengesellschaft boosted their price objective on AST SpaceMobile from $22.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Finally, B. Riley raised their target price on AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, August 29th.

AST SpaceMobile Trading Up 0.9 %

AST SpaceMobile stock opened at $26.98 on Wednesday. AST SpaceMobile, Inc. has a 12-month low of $1.97 and a 12-month high of $39.08. The stock has a market capitalization of $7.27 billion, a PE ratio of -21.58 and a beta of 1.62. The firm has a 50 day simple moving average of $27.34 and a 200-day simple moving average of $16.50. The company has a debt-to-equity ratio of 0.83, a current ratio of 6.38 and a quick ratio of 6.38.

AST SpaceMobile (NASDAQ:ASTS) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.05. The firm had revenue of $0.90 million for the quarter, compared to the consensus estimate of $2.00 million. As a group, equities research analysts expect that AST SpaceMobile, Inc. will post -0.88 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.