DnB Asset Management AS Has $1.18 Million Stock Position in AST SpaceMobile, Inc. (NASDAQ:ASTS)

DnB Asset Management AS decreased its position in AST SpaceMobile, Inc. (NASDAQ:ASTSGet Rating) by 14.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 187,384 shares of the company’s stock after selling 32,601 shares during the period. DnB Asset Management AS’s holdings in AST SpaceMobile were worth $1,175,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ASTS. Goldman Sachs Group Inc. grew its holdings in shares of AST SpaceMobile by 246.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 109,027 shares of the company’s stock valued at $1,088,000 after buying an additional 77,563 shares during the period. Qube Research & Technologies Ltd acquired a new position in AST SpaceMobile in the 4th quarter worth $602,000. Jaffetilchin Investment Partners LLC acquired a new position in AST SpaceMobile in the 1st quarter worth $350,000. Citigroup Inc. boosted its stake in AST SpaceMobile by 53.7% in the 4th quarter. Citigroup Inc. now owns 123,950 shares of the company’s stock worth $984,000 after purchasing an additional 43,328 shares during the period. Finally, Skaana Management L.P. acquired a new position in AST SpaceMobile in the 1st quarter worth $420,000. Institutional investors and hedge funds own 6.68% of the company’s stock.

AST SpaceMobile Price Performance

Shares of NASDAQ ASTS opened at $8.30 on Thursday. The firm has a market cap of $1.52 billion, a PE ratio of -31.92 and a beta of 0.49. The company has a current ratio of 10.50, a quick ratio of 10.35 and a debt-to-equity ratio of 0.02. AST SpaceMobile, Inc. has a 1-year low of $4.84 and a 1-year high of $14.27. The company has a fifty day moving average price of $9.43 and a 200 day moving average price of $8.54.

AST SpaceMobile (NASDAQ:ASTSGet Rating) last announced its earnings results on Monday, August 15th. The company reported ($0.06) earnings per share for the quarter. AST SpaceMobile had a negative return on equity of 15.52% and a negative net margin of 68.97%. The company had revenue of $7.26 million during the quarter. Research analysts predict that AST SpaceMobile, Inc. will post -0.48 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Deutsche Bank Aktiengesellschaft reduced their target price on shares of AST SpaceMobile from $31.00 to $30.00 and set a “buy” rating for the company in a research note on Wednesday, August 17th.

About AST SpaceMobile

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AST SpaceMobile, Inc operates space-based cellular broadband network for mobile phones. Its SpaceMobile service provides mobile broadband services for users traveling in and out of areas without terrestrial mobile services on land, at sea, or in flight. The company is headquartered in Midland, Texas.

Further Reading

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Institutional Ownership by Quarter for AST SpaceMobile (NASDAQ:ASTS)

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