AST SpaceMobile (NASDAQ:ASTS) Trading Down 0.8% – Should You Sell?

AST SpaceMobile, Inc. (NASDAQ:ASTS) traded down 0.8% during trading on Tuesday . The stock traded as low as $26.02 and last traded at $26.51. 1,783,010 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 10,580,923 shares. The stock had previously closed at $26.73.

Analyst Ratings Changes

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

AST SpaceMobile Trading Down 5.3 %

The company has a market cap of $6.41 billion, a P/E ratio of -19.51 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 business has a 50 day moving average price of $27.12 and a 200-day moving average price of $16.56.

AST SpaceMobile (NASDAQ:ASTS) last posted its quarterly earnings results 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 firm had revenue of $0.90 million for the quarter, compared to the consensus estimate of $2.00 million. Analysts forecast that AST SpaceMobile, Inc. will post -0.88 earnings per share for the current fiscal year.

Insider Buying and Selling

In other AST SpaceMobile news, CTO Huiwen Yao sold 45,000 shares of the company’s stock in a transaction that occurred 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other AST SpaceMobile news, CTO Huiwen Yao sold 45,000 shares of the company’s stock in a transaction 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 transaction, the chief technology officer now directly owns 55,000 shares in the company, valued at $1,334,300. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Adriana Cisneros acquired 4,934 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was bought at an average cost of $26.32 per share, for a total transaction of $129,862.88. Following the completion of the transaction, the director now directly owns 774,772 shares of the company’s stock, valued at approximately $20,391,999.04. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 127,700 shares of company stock worth $3,220,524. Company insiders own 41.80% of the company’s stock.

Institutional Investors Weigh In On AST SpaceMobile

A number of institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. acquired a new stake in AST SpaceMobile during the 1st quarter worth approximately $45,000. Capstone Investment Advisors LLC acquired a new stake in shares of AST SpaceMobile during the first quarter worth $580,000. BNP Paribas acquired a new stake in shares of AST SpaceMobile during the first quarter worth $43,000. Vanguard Group Inc. boosted its position in shares of AST SpaceMobile by 49.9% in the first quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company’s stock valued at $19,325,000 after acquiring an additional 2,217,531 shares during the period. Finally, American International Group Inc. grew its stake in shares of AST SpaceMobile by 41.5% in the first quarter. American International Group Inc. now owns 56,527 shares of the company’s stock valued at $164,000 after acquiring an additional 16,568 shares in the last quarter. Institutional investors own 60.95% of the company’s stock.

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.