Traynor Capital Management Inc. Takes $276,000 Position in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Traynor Capital Management Inc. bought a new position in AST SpaceMobile, Inc. (NASDAQ:ASTS) in the 3rd quarter, HoldingsChannel reports. The fund bought 10,536 shares of the company’s stock, valued at approximately $276,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Future Financial Wealth Managment LLC purchased a new position in AST SpaceMobile during the 3rd quarter valued at about $105,000. Capital Investment Advisors LLC acquired a new stake in shares of AST SpaceMobile during the third quarter worth approximately $216,000. Allworth Financial LP boosted 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 worth $241,000 after purchasing an additional 8,956 shares during the period. Brookstone Capital Management purchased a new position in AST SpaceMobile during the third quarter valued at approximately $255,000. Finally, Calton & Associates Inc. acquired a new position in AST SpaceMobile in the 2nd quarter valued at approximately $128,000. Hedge funds and other institutional investors own 60.95% of the company’s stock.

Insider Buying and Selling

In other AST SpaceMobile news, President Scott Wisniewski sold 2,700 shares of the firm’s stock in a transaction that occurred 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 sale, the president now owns 712,660 shares of the company’s stock, valued at $16,476,699.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Director Adriana Cisneros bought 4,934 shares of AST SpaceMobile stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average price of $26.32 per share, for a total transaction of $129,862.88. Following the completion of the purchase, the director now owns 774,772 shares in the company, valued at approximately $20,391,999.04. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Scott Wisniewski sold 2,700 shares of the business’s 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 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 127,700 shares of company stock valued at $3,220,524. Insiders own 41.80% of the company’s stock.

Analysts Set New Price Targets

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

AST SpaceMobile Price Performance

NASDAQ ASTS opened at $26.98 on Wednesday. AST SpaceMobile, Inc. has a 1 year low of $1.97 and a 1 year high of $39.08. The company has a fifty day simple moving average of $27.34 and a 200 day simple moving average of $16.50. The company has a current ratio of 6.38, a quick ratio of 6.38 and a debt-to-equity ratio of 0.83. The company has a market cap of $7.27 billion, a P/E ratio of -21.58 and a beta of 1.62.

AST SpaceMobile (NASDAQ:ASTS) last released 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. On average, sell-side analysts predict that AST SpaceMobile, Inc. will post -0.88 EPS for the current year.

AST SpaceMobile 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.