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

ProShare Advisors LLC reduced its stake in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 25.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,363 shares of the company’s stock after selling 5,245 shares during the period. ProShare Advisors LLC’s holdings in AST SpaceMobile were worth $178,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

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

Insiders Place Their Bets

In other AST SpaceMobile news, President Scott Wisniewski sold 2,700 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $23.12, for a total value of $62,424.00. Following the completion of the sale, the president now owns 712,660 shares in the company, valued at approximately $16,476,699.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other AST SpaceMobile news, COO Shanti B. Gupta sold 80,000 shares of the firm’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $25.83, for a total transaction of $2,066,400.00. Following the transaction, the chief operating officer now directly 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 position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 transaction of $62,424.00. Following the completion of the sale, the president now directly owns 712,660 shares of the company’s stock, valued at $16,476,699.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 56.56% of the stock is currently owned by corporate insiders.

AST SpaceMobile Trading Up 12.4 %

NASDAQ ASTS opened at $26.11 on Friday. The firm’s fifty day moving average price is $26.44 and its 200 day moving average price is $13.56. AST SpaceMobile, Inc. has a 12 month low of $1.97 and a 12 month high of $39.08. The company has a debt-to-equity ratio of 0.83, a current ratio of 6.38 and a quick ratio of 6.38. The company has a market capitalization of $6.72 billion, a price-to-earnings ratio of -26.64 and a beta of 1.62.

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 firm had revenue of $0.90 million for the quarter, compared to analysts’ expectations of $2.00 million. On average, sell-side analysts expect that AST SpaceMobile, Inc. will post -0.88 earnings per share 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.