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

Rhumbline Advisers cut its position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 7.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 192,076 shares of the company’s stock after selling 14,468 shares during the period. Rhumbline Advisers owned 0.06% of AST SpaceMobile worth $8,976,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in ASTS. AXQ Capital LP acquired a new position in AST SpaceMobile in the second quarter worth approximately $569,000. Legal & General Group Plc increased its stake in shares of AST SpaceMobile by 22.2% during the 2nd quarter. Legal & General Group Plc now owns 182,190 shares of the company’s stock worth $8,513,000 after purchasing an additional 33,128 shares during the last quarter. Entropy Technologies LP acquired a new position in shares of AST SpaceMobile during the 2nd quarter worth $485,000. Swiss National Bank raised its holdings in shares of AST SpaceMobile by 16.2% during the 2nd quarter. Swiss National Bank now owns 360,700 shares of the company’s stock valued at $16,856,000 after purchasing an additional 50,200 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in shares of AST SpaceMobile by 16.8% in the 2nd quarter. Handelsbanken Fonder AB now owns 41,800 shares of the company’s stock valued at $1,953,000 after purchasing an additional 6,000 shares during the last quarter. Institutional investors own 60.95% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. William Blair assumed coverage on shares of AST SpaceMobile in a research report on Thursday, August 21st. They set a “market perform” rating on the stock. Roth Capital reissued a “buy” rating on shares of AST SpaceMobile in a report on Tuesday, August 12th. Zacks Research downgraded AST SpaceMobile from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 21st. UBS Group cut AST SpaceMobile from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $62.00 to $43.00 in a research report on Tuesday, September 9th. Finally, Barclays downgraded AST SpaceMobile from an “overweight” rating to an “underweight” rating and set a $60.00 price target on the stock. in a report on Friday, October 17th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $45.66.

AST SpaceMobile Trading Down 6.4%

Shares of ASTS opened at $52.61 on Tuesday. The stock’s 50-day moving average price is $67.92 and its 200 day moving average price is $51.96. The company has a quick ratio of 9.48, a current ratio of 9.56 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $19.31 billion, a price-to-earnings ratio of -42.43 and a beta of 2.46. AST SpaceMobile, Inc. has a 12-month low of $17.50 and a 12-month high of $102.79.

AST SpaceMobile (NASDAQ:ASTS) last announced its quarterly earnings data on Monday, November 10th. The company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.27). The firm had revenue of $14.74 million during the quarter, compared to the consensus estimate of $22.04 million. AST SpaceMobile had a negative return on equity of 27.76% and a negative net margin of 1,639.59%.AST SpaceMobile’s revenue was up 1236.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.10) EPS. As a group, research analysts predict that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current year.

Insiders Place Their Bets

In other AST SpaceMobile news, CFO Andrew Martin Johnson sold 10,000 shares of the business’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $56.00, for a total value of $560,000.00. Following the sale, the chief financial officer owned 387,485 shares of the company’s stock, valued at $21,699,160. The trade was a 2.52% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Adriana Cisneros acquired 750 shares of the company’s stock in a transaction dated Thursday, November 20th. The stock was acquired at an average price of $50.79 per share, with a total value of $38,092.50. Following the purchase, the director owned 784,077 shares in the company, valued at approximately $39,823,270.83. This represents a 0.10% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 30.90% of the company’s stock.

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.