ProShare Advisors LLC Lowers Position in AST SpaceMobile, Inc. (NASDAQ:ASTS)

ProShare Advisors LLC trimmed its position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 25.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,363 shares of the company’s stock after selling 5,245 shares during the quarter. ProShare Advisors LLC’s holdings in AST SpaceMobile were worth $178,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ASTS. Sei Investments Co. acquired a new position in AST SpaceMobile during the 2nd quarter worth approximately $728,000. Seven Eight Capital LP purchased a new stake in shares of AST SpaceMobile in the second quarter valued at approximately $3,387,000. Renaissance Technologies LLC acquired a new position in AST SpaceMobile during the second quarter worth $4,757,000. WINTON GROUP Ltd purchased a new position in AST SpaceMobile in the second quarter worth $209,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of AST SpaceMobile during the 2nd quarter worth $9,270,000. 60.95% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at AST SpaceMobile

In related news, President Scott Wisniewski sold 2,700 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $23.12, for a total transaction of $62,424.00. Following the sale, the president now owns 712,660 shares of the company’s stock, valued at $16,476,699.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other AST SpaceMobile news, President Scott Wisniewski sold 2,700 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $23.12, for a total value of $62,424.00. Following the transaction, the president now directly owns 712,660 shares in the company, valued at approximately $16,476,699.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Shanti B. Gupta sold 80,000 shares of AST SpaceMobile stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $25.83, for a total transaction of $2,066,400.00. Following the sale, the chief operating officer now owns 393,232 shares of the company’s stock, valued at approximately $10,157,182.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 56.56% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ASTS shares. B. Riley increased their price target on shares of AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Scotiabank increased their target price on shares of AST SpaceMobile from $28.00 to $45.90 and gave the company a “sector outperform” rating in a report on Monday, August 26th. UBS Group boosted their price target on AST SpaceMobile from $13.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on AST SpaceMobile from $22.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th.

AST SpaceMobile Stock Performance

Shares of ASTS opened at $26.11 on Friday. The company has a 50-day moving average of $26.44 and a two-hundred day moving average of $13.56. The stock has a market cap of $6.72 billion, a P/E ratio of -26.64 and a beta of 1.62. AST SpaceMobile, Inc. has a 12-month low of $1.97 and a 12-month high of $39.08. The company has a current ratio of 6.38, a quick ratio of 6.38 and a debt-to-equity ratio of 0.83.

AST SpaceMobile (NASDAQ:ASTS) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.05. The company had revenue of $0.90 million for the quarter, compared to analyst estimates of $2.00 million. As a group, research analysts predict that AST SpaceMobile, Inc. will post -0.88 EPS for the current fiscal 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.