Vontobel Holding Ltd. Lowers Stock Position in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Vontobel Holding Ltd. decreased its holdings in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 49.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,630 shares of the company’s stock after selling 11,600 shares during the period. Vontobel Holding Ltd.’s holdings in AST SpaceMobile were worth $304,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Future Financial Wealth Managment LLC purchased a new stake in shares of AST SpaceMobile in the third quarter valued at approximately $105,000. Brookstone Capital Management acquired a new stake in AST SpaceMobile in the third quarter valued at $255,000. Calton & Associates Inc. purchased a new stake in shares of AST SpaceMobile during the 2nd quarter worth $128,000. Miracle Mile Advisors LLC purchased a new stake in shares of AST SpaceMobile during the 3rd quarter worth $328,000. Finally, BNP Paribas acquired a new position in shares of AST SpaceMobile during the 1st quarter worth $43,000. 60.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ASTS has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft raised their price objective on shares of AST SpaceMobile from $22.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. UBS Group lifted their price target on shares of AST SpaceMobile from $13.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. B. Riley upped 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 lifted their price objective on AST SpaceMobile from $28.00 to $45.90 and gave the stock a “sector outperform” rating in a report on Monday, August 26th.

AST SpaceMobile Stock Performance

Shares of ASTS opened at $27.89 on Wednesday. AST SpaceMobile, Inc. has a 12-month low of $1.97 and a 12-month high of $39.08. The stock has a market cap of $7.18 billion, a P/E ratio of -28.46 and a beta of 1.62. The company has a current ratio of 6.38, a quick ratio of 6.38 and a debt-to-equity ratio of 0.83. The company has a 50-day moving average of $27.71 and a two-hundred day moving average of $15.48.

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.

Insider Transactions at AST SpaceMobile

In other news, CTO Huiwen Yao sold 45,000 shares of the company’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $24.26, for a total value of $1,091,700.00. Following the sale, the chief technology officer now directly owns 55,000 shares in the company, valued at $1,334,300. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CTO Huiwen Yao sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $24.26, for a total value of $1,091,700.00. Following the completion of the transaction, the chief technology officer now owns 55,000 shares of the company’s stock, valued at $1,334,300. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Shanti B. Gupta sold 80,000 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at approximately $10,157,182.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 127,700 shares of company stock valued at $3,220,524 over the last three months. 56.56% of the stock is currently owned by insiders.

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.