AST SpaceMobile, Inc. (NASDAQ:ASTS) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lowered its holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 33.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,583 shares of the company's stock after selling 7,193 shares during the period. Nisa Investment Advisors LLC's holdings in AST SpaceMobile were worth $332,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of AST SpaceMobile by 49.4% in the 4th quarter. Vanguard Group Inc. now owns 14,987,351 shares of the company's stock valued at $316,233,000 after purchasing an additional 4,955,941 shares in the last quarter. T. Rowe Price Investment Management Inc. bought a new stake in shares of AST SpaceMobile in the fourth quarter worth $59,523,000. Key Colony Management LLC raised its holdings in AST SpaceMobile by 204.1% in the first quarter. Key Colony Management LLC now owns 596,000 shares of the company's stock valued at $13,553,000 after acquiring an additional 400,000 shares in the last quarter. Geode Capital Management LLC boosted its stake in AST SpaceMobile by 7.0% during the 4th quarter. Geode Capital Management LLC now owns 3,496,825 shares of the company's stock valued at $73,801,000 after acquiring an additional 229,759 shares during the last quarter. Finally, Twinbeech Capital LP bought a new position in AST SpaceMobile during the 4th quarter valued at $4,684,000. Institutional investors and hedge funds own 60.95% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ASTS. Bank of America began coverage on shares of AST SpaceMobile in a research note on Wednesday, June 25th. They issued a "neutral" rating and a $55.00 target price on the stock. Roth Capital assumed coverage on AST SpaceMobile in a report on Thursday, April 10th. They set a "buy" rating and a $42.00 target price on the stock. Scotiabank reiterated a "sector perform" rating and issued a $45.40 price target on shares of AST SpaceMobile in a report on Monday, June 23rd. B. Riley restated a "buy" rating and set a $44.00 price objective (up from $36.00) on shares of AST SpaceMobile in a research note on Monday, June 16th. Finally, Oppenheimer started coverage on shares of AST SpaceMobile in a report on Monday, May 5th. They issued a "market perform" rating for the company. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, AST SpaceMobile presently has an average rating of "Moderate Buy" and an average target price of $45.34.

AST SpaceMobile Stock Performance

Shares of NASDAQ ASTS traded up $0.53 during mid-day trading on Friday, hitting $57.98. The company had a trading volume of 7,943,446 shares, compared to its average volume of 12,875,923. AST SpaceMobile, Inc. has a 12 month low of $12.24 and a 12 month high of $58.05. The stock has a market cap of $18.35 billion, a price-to-earnings ratio of -29.14 and a beta of 2.27. The company has a debt-to-equity ratio of 0.60, a current ratio of 10.62 and a quick ratio of 10.62. The firm's 50 day simple moving average is $37.10 and its two-hundred day simple moving average is $28.95.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.03). The company had revenue of $0.72 million during the quarter, compared to the consensus estimate of $3.85 million. AST SpaceMobile had a negative net margin of 7,033.22% and a negative return on equity of 23.56%. As a group, equities research analysts forecast that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current year.

Insider Activity at AST SpaceMobile

In other AST SpaceMobile news, President Scott Wisniewski sold 50,000 shares of the company's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $35.65, for a total value of $1,782,500.00. Following the completion of the transaction, the president owned 545,595 shares in the company, valued at approximately $19,450,461.75. This represents a 8.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Shanti B. Gupta sold 10,000 shares of AST SpaceMobile stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $41.84, for a total value of $418,400.00. Following the sale, the chief operating officer directly owned 305,667 shares in the company, valued at approximately $12,789,107.28. This trade represents a 3.17% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 184,250 shares of company stock worth $6,146,750 in the last ninety days. 34.15% of the stock is owned by insiders.

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.