Nisa Investment Advisors LLC Sells 7,193 Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS)

Nisa Investment Advisors LLC lowered its position in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 33.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,583 shares of the company’s stock after selling 7,193 shares during the period. Nisa Investment Advisors LLC’s holdings in AST SpaceMobile were worth $332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. LBP AM SA lifted its stake in AST SpaceMobile by 20.6% in the first quarter. LBP AM SA now owns 23,679 shares of the company’s stock worth $538,000 after purchasing an additional 4,051 shares during the last quarter. Novare Capital Management LLC bought a new stake in AST SpaceMobile in the first quarter worth about $341,000. Principal Financial Group Inc. bought a new stake in shares of AST SpaceMobile during the first quarter valued at approximately $202,000. Teacher Retirement System of Texas bought a new stake in shares of AST SpaceMobile during the first quarter valued at approximately $533,000. Finally, American Capital Advisory LLC bought a new stake in shares of AST SpaceMobile during the first quarter valued at approximately $472,000. Institutional investors own 60.95% of the company’s stock.

AST SpaceMobile Stock Performance

Shares of ASTS stock opened at $52.63 on Thursday. The firm has a market cap of $16.66 billion, a price-to-earnings ratio of -26.45 and a beta of 2.27. The company’s 50 day moving average is $36.46 and its 200 day moving average is $28.71. The company has a quick ratio of 10.62, a current ratio of 10.62 and a debt-to-equity ratio of 0.60. AST SpaceMobile, Inc. has a 52-week low of $12.24 and a 52-week high of $54.05.

AST SpaceMobile (NASDAQ:ASTS) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.03). The business had revenue of $0.72 million for the quarter, compared to analysts’ expectations of $3.85 million. AST SpaceMobile had a negative net margin of 7,033.22% and a negative return on equity of 23.56%. On average, sell-side analysts anticipate that AST SpaceMobile, Inc. will post -0.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other AST SpaceMobile news, President Scott Wisniewski sold 50,000 shares of AST SpaceMobile stock in a transaction on Monday, June 9th. The shares were sold at an average price of $35.65, for a total value of $1,782,500.00. Following the transaction, the president directly owned 545,595 shares of the company’s stock, valued at approximately $19,450,461.75. The trade was a 8.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Shanti B. Gupta sold 15,000 shares of AST SpaceMobile stock in a transaction on Monday, June 9th. The stock was sold at an average price of $36.08, for a total transaction of $541,200.00. Following the completion of the transaction, the chief operating officer directly owned 315,667 shares in the company, valued at $11,389,265.36. This represents a 4.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 184,250 shares of company stock valued at $6,146,750. 34.15% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on ASTS shares. Oppenheimer started coverage on shares of AST SpaceMobile in a research note on Monday, May 5th. They set a “market perform” rating for the company. B. Riley reaffirmed a “buy” rating and set a $44.00 price target (up previously from $36.00) on shares of AST SpaceMobile in a research note on Monday, June 16th. Roth Capital began coverage on shares of AST SpaceMobile in a report on Thursday, April 10th. They set a “buy” rating and a $42.00 target price on the stock. Scotiabank reiterated a “sector perform” rating and set a $45.40 target price on shares of AST SpaceMobile in a report on Monday, June 23rd. Finally, Bank of America began coverage on shares of AST SpaceMobile in a report on Wednesday, June 25th. They set a “neutral” rating and a $55.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $45.34.

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.