Dakota Wealth Management Lowers Stock Holdings in AST SpaceMobile, Inc. $ASTS

Dakota Wealth Management lowered its position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 44.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 72,192 shares of the company’s stock after selling 58,614 shares during the period. Dakota Wealth Management’s holdings in AST SpaceMobile were worth $3,374,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Two Sigma Investments LP raised its holdings in shares of AST SpaceMobile by 117.5% during the 4th quarter. Two Sigma Investments LP now owns 51,874 shares of the company’s stock valued at $1,095,000 after buying an additional 28,025 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in AST SpaceMobile by 49.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 275,810 shares of the company’s stock valued at $5,820,000 after acquiring an additional 91,536 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in AST SpaceMobile during the fourth quarter valued at approximately $217,000. California State Teachers Retirement System raised its stake in shares of AST SpaceMobile by 15.2% during the fourth quarter. California State Teachers Retirement System now owns 147,430 shares of the company’s stock worth $3,111,000 after acquiring an additional 19,471 shares in the last quarter. Finally, Key Colony Management LLC lifted its holdings in shares of AST SpaceMobile by 204.1% in the 1st quarter. Key Colony Management LLC now owns 596,000 shares of the company’s stock worth $13,553,000 after acquiring an additional 400,000 shares during the last quarter. 60.95% of the stock is currently owned by institutional investors.

AST SpaceMobile Price Performance

ASTS stock opened at $49.39 on Friday. The stock has a market capitalization of $17.71 billion, a price-to-earnings ratio of -26.13 and a beta of 2.43. The firm’s 50-day moving average price is $48.35 and its two-hundred day moving average price is $36.98. The company has a current ratio of 8.23, a quick ratio of 8.23 and a debt-to-equity ratio of 0.42. AST SpaceMobile, Inc. has a 12-month low of $17.50 and a 12-month high of $60.95.

AST SpaceMobile (NASDAQ:ASTS) last posted its earnings results on Monday, August 11th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.22). AST SpaceMobile had a negative return on equity of 26.81% and a negative net margin of 7,213.90%.The business had revenue of $1.16 million during the quarter, compared to the consensus estimate of $6.37 million. As a group, equities analysts predict that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on ASTS shares. William Blair initiated coverage on shares of AST SpaceMobile in a report on Thursday, August 21st. They set a “market perform” rating on the stock. Zacks Research raised AST SpaceMobile from a “strong sell” rating to a “hold” rating in a research note on Monday, August 18th. Scotiabank decreased their price objective on AST SpaceMobile from $45.40 to $42.90 and set a “sector perform” rating on the stock in a report on Thursday, August 7th. Bank of America started coverage on AST SpaceMobile in a research note on Wednesday, June 25th. They issued a “neutral” rating and a $55.00 target price for the company. Finally, B. Riley restated a “buy” rating and set a $44.00 price target (up from $36.00) on shares of AST SpaceMobile in a research report on Monday, June 16th. Three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $42.82.

Insider Buying and Selling

In related news, CFO Andrew Martin Johnson sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $52.48, for a total transaction of $1,049,600.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Huiwen Yao sold 40,000 shares of the firm’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $40.58, for a total value of $1,623,200.00. Following the completion of the sale, the chief technology officer directly owned 4,750 shares of the company’s stock, valued at $192,755. The trade was a 89.39% decrease in their position. The disclosure for this sale can be found here. 34.15% of the stock is currently owned by company insiders.

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.