AST SpaceMobile (NASDAQ:ASTS) Shares Down 4.5% – Time to Sell?

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s stock price fell 4.5% on Monday . The stock traded as low as $26.81 and last traded at $26.86. 3,180,193 shares were traded during trading, a decline of 70% from the average session volume of 10,526,492 shares. The stock had previously closed at $28.14.

Analysts Set New Price Targets

A number of research firms have weighed in on ASTS. Scotiabank upped their price target on shares of AST SpaceMobile from $28.00 to $45.90 and gave the stock a “sector outperform” rating in a research report on Monday, August 26th. UBS Group increased their price target on AST SpaceMobile from $13.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft boosted their price objective on AST SpaceMobile from $22.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Finally, B. Riley increased their target price on AST SpaceMobile from $26.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th.

AST SpaceMobile Stock Down 5.8 %

The business has a 50-day moving average of $27.85 and a 200 day moving average of $15.66. The company has a market capitalization of $6.76 billion, a PE ratio of -26.69 and a beta of 1.62. The company has a debt-to-equity ratio of 0.83, a current ratio of 6.38 and a quick ratio of 6.38.

AST SpaceMobile (NASDAQ:ASTS) last posted its earnings results on Wednesday, August 14th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.05. The firm had revenue of $0.90 million for the quarter, compared to the consensus estimate of $2.00 million. Equities research analysts predict that AST SpaceMobile, Inc. will post -0.88 earnings per share for the current year.

Insiders Place Their Bets

In other AST SpaceMobile news, President Scott Wisniewski sold 2,700 shares of AST SpaceMobile stock in a transaction on Monday, September 30th. The shares were sold at an average price of $23.12, for a total transaction of $62,424.00. Following the completion of the transaction, the president now directly owns 712,660 shares of the company’s stock, valued at $16,476,699.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other AST SpaceMobile news, President Scott Wisniewski sold 2,700 shares of the business’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $23.12, for a total value of $62,424.00. Following the completion of the sale, the president now directly owns 712,660 shares of the company’s stock, valued at $16,476,699.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Shanti B. Gupta sold 80,000 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $25.83, for a total value of $2,066,400.00. Following the transaction, the chief operating officer now directly owns 393,232 shares in the company, valued at $10,157,182.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 127,700 shares of company stock valued at $3,220,524 over the last ninety days. 56.56% of the stock is owned by insiders.

Institutional Investors Weigh In On AST SpaceMobile

Several hedge funds have recently modified their holdings of the business. BNP Paribas bought a new position in AST SpaceMobile in the first quarter worth about $43,000. Principal Financial Group Inc. bought a new position in shares of AST SpaceMobile during the 1st quarter worth approximately $45,000. Black Maple Capital Management LP acquired a new position in shares of AST SpaceMobile during the first quarter worth $87,000. Future Financial Wealth Managment LLC purchased a new stake in shares of AST SpaceMobile during the third quarter worth about $105,000. Finally, Calton & Associates Inc. acquired a new position in shares of AST SpaceMobile in the 2nd quarter valued at $128,000. Hedge funds and other institutional investors own 60.95% of the company’s stock.

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.