Nisa Investment Advisors LLC Sells 1,332 Shares of AST SpaceMobile, Inc. $ASTS

Nisa Investment Advisors LLC trimmed its position in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 9.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,251 shares of the company’s stock after selling 1,332 shares during the quarter. Nisa Investment Advisors LLC’s holdings in AST SpaceMobile were worth $619,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in ASTS. GAMMA Investing LLC increased its stake in AST SpaceMobile by 388.7% in the first quarter. GAMMA Investing LLC now owns 1,559 shares of the company’s stock valued at $35,000 after acquiring an additional 1,240 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in AST SpaceMobile by 58.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 16,249 shares of the company’s stock worth $370,000 after acquiring an additional 5,973 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in AST SpaceMobile during the first quarter worth about $331,000. KBC Group NV raised its stake in AST SpaceMobile by 15.6% during the first quarter. KBC Group NV now owns 7,525 shares of the company’s stock worth $171,000 after acquiring an additional 1,016 shares in the last quarter. Finally, Vontobel Holding Ltd. raised its stake in AST SpaceMobile by 33.9% during the first quarter. Vontobel Holding Ltd. now owns 13,546 shares of the company’s stock worth $308,000 after acquiring an additional 3,427 shares in the last quarter. 60.95% of the stock is owned by institutional investors.

Insider Buying and Selling at AST SpaceMobile

In other news, CTO Huiwen Yao sold 40,000 shares of the company’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $40.58, for a total transaction of $1,623,200.00. Following the transaction, the chief technology officer owned 4,750 shares in the company, valued at approximately $192,755. This represents a 89.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Andrew Martin Johnson sold 20,000 shares of the company’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $52.48, for a total transaction of $1,049,600.00. Following the transaction, the chief financial officer owned 397,485 shares in the company, valued at $20,860,012.80. This represents a 4.79% decrease in their position. The disclosure for this sale is available in the SEC filing. 34.15% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have commented on ASTS shares. Barclays downgraded AST SpaceMobile from an “overweight” rating to an “underweight” rating and set a $60.00 target price for the company. in a research note on Friday, October 17th. Scotiabank cut shares of AST SpaceMobile from a “sector perform” rating to a “sector underperform” rating and set a $42.90 target price on the stock. in a research note on Tuesday, October 7th. Roth Capital reaffirmed a “buy” rating on shares of AST SpaceMobile in a research note on Tuesday, August 12th. William Blair initiated coverage on shares of AST SpaceMobile in a research note on Thursday, August 21st. They set a “market perform” rating on the stock. Finally, UBS Group cut shares of 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 note on Tuesday, September 9th. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $45.27.

AST SpaceMobile Stock Performance

Shares of AST SpaceMobile stock opened at $80.25 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. AST SpaceMobile, Inc. has a twelve month low of $17.50 and a twelve month high of $102.79. The stock has a market cap of $28.77 billion, a price-to-earnings ratio of -42.46 and a beta of 2.41. The company’s fifty day moving average is $60.89 and its 200 day moving average is $46.41.

AST SpaceMobile (NASDAQ:ASTS) last issued its quarterly earnings data on Monday, August 11th. The company reported ($0.41) earnings per share 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%. Sell-side analysts forecast that AST SpaceMobile, Inc. will post -0.4 EPS for the current year.

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.