Rhumbline Advisers Has $4.70 Million Stock Holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Rhumbline Advisers trimmed its stake in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 4.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 206,544 shares of the company's stock after selling 10,174 shares during the quarter. Rhumbline Advisers owned approximately 0.07% of AST SpaceMobile worth $4,697,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Summit Securities Group LLC acquired a new stake in shares of AST SpaceMobile during the fourth quarter valued at approximately $37,000. Bernard Wealth Management Corp. acquired a new stake in shares of AST SpaceMobile in the fourth quarter worth $42,000. CIBC Private Wealth Group LLC grew its holdings in shares of AST SpaceMobile by 106.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company's stock valued at $53,000 after buying an additional 1,222 shares in the last quarter. AlphaQuest LLC acquired a new position in AST SpaceMobile during the fourth quarter valued at $67,000. Finally, SRS Capital Advisors Inc. lifted its stake in AST SpaceMobile by 554.5% in the 4th quarter. SRS Capital Advisors Inc. now owns 3,482 shares of the company's stock worth $73,000 after acquiring an additional 2,950 shares in the last quarter. 60.95% of the stock is owned by institutional investors and hedge funds.

AST SpaceMobile Stock Performance

AST SpaceMobile stock traded down $1.81 during trading hours on Tuesday, reaching $40.10. 12,728,151 shares of the company were exchanged, compared to its average volume of 12,382,126. The stock has a 50-day moving average of $26.49 and a 200 day moving average of $25.31. The company has a current ratio of 10.62, a quick ratio of 10.62 and a debt-to-equity ratio of 0.60. AST SpaceMobile, Inc. has a 12 month low of $9.32 and a 12 month high of $42.93. The firm has a market cap of $12.69 billion, a price-to-earnings ratio of -20.15 and a beta of 2.02.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.03). The business had revenue of $0.72 million during the quarter, compared to analyst estimates 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, research analysts anticipate that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ASTS. Cantor Fitzgerald reissued an "overweight" rating and issued a $30.00 price target on shares of AST SpaceMobile in a research report on Tuesday, March 4th. Roth Capital initiated coverage on shares of AST SpaceMobile in a research report on Thursday, April 10th. They issued a "buy" rating and a $42.00 target price for the company. Oppenheimer assumed coverage on shares of AST SpaceMobile in a report on Monday, May 5th. They set a "market perform" rating on the stock. Scotiabank dropped their price target on shares of AST SpaceMobile from $47.90 to $45.40 and set a "sector outperform" rating on the stock in a research note on Tuesday, May 13th. Finally, B. Riley lifted their price objective on AST SpaceMobile from $36.00 to $44.00 and gave the company a "buy" rating in a research report on Monday. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $43.73.

Insider Activity at AST SpaceMobile

In other news, COO Shanti B. Gupta sold 10,000 shares of the company's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $41.84, for a total transaction of $418,400.00. Following the completion of the transaction, the chief operating officer now owns 305,667 shares of the company's stock, valued at approximately $12,789,107.28. This represents a 3.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Huiwen Yao sold 55,000 shares of AST SpaceMobile stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $26.82, for a total value of $1,475,100.00. The disclosure for this sale can be found here. Insiders sold a total of 184,250 shares of company stock worth $6,146,750 in the last ninety days. 41.80% of the stock is currently 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.