AST SpaceMobile, Inc. $ASTS Stock Holdings Decreased by Rhumbline Advisers

Rhumbline Advisers reduced its position in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 4.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 206,544 shares of the company's stock after selling 10,174 shares during the period. Rhumbline Advisers owned about 0.07% of AST SpaceMobile worth $4,697,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in ASTS. Cetera Investment Advisers increased its position in shares of AST SpaceMobile by 122.1% in the fourth quarter. Cetera Investment Advisers now owns 86,683 shares of the company's stock worth $1,829,000 after acquiring an additional 47,647 shares in the last quarter. Deutsche Bank AG increased its position in shares of AST SpaceMobile by 181.2% in the fourth quarter. Deutsche Bank AG now owns 213,203 shares of the company's stock worth $4,499,000 after acquiring an additional 137,392 shares in the last quarter. Ensign Peak Advisors Inc purchased a new position in shares of AST SpaceMobile in the fourth quarter worth approximately $1,100,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of AST SpaceMobile by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 76,249 shares of the company's stock worth $1,609,000 after acquiring an additional 2,953 shares in the last quarter. Finally, ProShare Advisors LLC increased its position in shares of AST SpaceMobile by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 37,728 shares of the company's stock worth $796,000 after acquiring an additional 12,400 shares in the last quarter. 60.95% of the stock is owned by hedge funds and other institutional investors.

AST SpaceMobile Stock Performance

ASTS stock opened at $38.72 on Friday. The company has a quick ratio of 8.23, a current ratio of 8.23 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $13.88 billion, a price-to-earnings ratio of -20.49 and a beta of 2.43. AST SpaceMobile, Inc. has a 12 month low of $17.50 and a 12 month high of $60.95. The firm has a 50 day moving average of $48.67 and a two-hundred day moving average of $35.98.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last posted its earnings results on Monday, August 11th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.22). The business had revenue of $1.16 million during the quarter, compared to the consensus estimate of $6.37 million. AST SpaceMobile had a negative return on equity of 26.81% and a negative net margin of 7,213.90%. As a group, equities analysts anticipate that AST SpaceMobile, Inc. will post -0.4 EPS for the current fiscal year.

Insider Activity at AST SpaceMobile

In other AST SpaceMobile news, CFO Andrew Martin Johnson sold 20,000 shares of the business's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $52.48, for a total value of $1,049,600.00. Following the completion of the sale, the chief financial officer directly owned 397,485 shares of the company's stock, valued at $20,860,012.80. The trade was a 4.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Shanti B. Gupta sold 10,000 shares of the business's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $41.84, for a total transaction of $418,400.00. Following the completion of the sale, the chief operating officer owned 305,667 shares of the company's stock, valued at $12,789,107.28. The trade was a 3.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 34.15% of the company's stock.

Analysts Set New Price Targets

ASTS has been the topic of several analyst reports. Zacks Research raised shares of AST SpaceMobile from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. Bank of America initiated coverage on shares of AST SpaceMobile in a report on Wednesday, June 25th. They set a "neutral" rating and a $55.00 price target for the company. UBS Group cut shares of AST SpaceMobile from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $62.00 to $43.00 in a report on Tuesday. William Blair initiated coverage on shares of AST SpaceMobile in a report on Thursday, August 21st. They set a "market perform" rating for the company. Finally, Roth Capital restated a "buy" rating on shares of AST SpaceMobile in a report on Tuesday, August 12th. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $42.82.

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.

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