Commonwealth Equity Services LLC Sells 3,470 Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS)

Commonwealth Equity Services LLC reduced its position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 15.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,550 shares of the company’s stock after selling 3,470 shares during the period. Commonwealth Equity Services LLC’s holdings in AST SpaceMobile were worth $227,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Janus Henderson Group PLC lifted its position in AST SpaceMobile by 209.9% during the 1st quarter. Janus Henderson Group PLC now owns 7,450,467 shares of the company’s stock worth $21,606,000 after acquiring an additional 5,046,667 shares during the last quarter. Vanguard Group Inc. boosted its stake in AST SpaceMobile by 49.9% during the 1st quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company’s stock valued at $19,325,000 after purchasing an additional 2,217,531 shares during the period. Broad Run Investment Management LLC grew its holdings in AST SpaceMobile by 74.8% in the 4th quarter. Broad Run Investment Management LLC now owns 3,962,853 shares of the company’s stock valued at $23,896,000 after buying an additional 1,695,805 shares during the last quarter. Masters Capital Management LLC bought a new position in AST SpaceMobile in the 1st quarter worth approximately $2,900,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of AST SpaceMobile by 56.4% during the second quarter. Bank of New York Mellon Corp now owns 472,769 shares of the company’s stock worth $5,489,000 after buying an additional 170,440 shares during the last quarter. 60.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Adriana Cisneros purchased 4,934 shares of the stock in a transaction on Friday, September 6th. The shares were purchased at an average cost of $26.32 per share, for a total transaction of $129,862.88. Following the completion of the transaction, the director now directly owns 774,772 shares of the company’s stock, valued at approximately $20,391,999.04. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 56.56% of the stock is owned by corporate insiders.

AST SpaceMobile Trading Down 5.6 %

Shares of ASTS stock opened at $24.39 on Thursday. The firm has a fifty day moving average of $25.00 and a 200-day moving average of $12.57. The stock has a market cap of $6.28 billion, a price-to-earnings ratio of -24.89 and a beta of 1.63. AST SpaceMobile, Inc. has a 52-week low of $1.97 and a 52-week high of $39.08. The company has a debt-to-equity ratio of 0.83, a quick ratio of 6.38 and a current ratio of 6.38.

AST SpaceMobile (NASDAQ:ASTS) last posted its quarterly earnings results 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 business had revenue of $0.90 million during the quarter, compared to analyst estimates of $2.00 million. On average, equities research analysts forecast that AST SpaceMobile, Inc. will post -0.88 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.