AST SpaceMobile (NASDAQ:ASTS) Trading Down 2.9% – Time to Sell?

AST SpaceMobile, Inc. (NASDAQ:ASTS) shares fell 2.9% during trading on Thursday . The company traded as low as $24.35 and last traded at $24.39. 1,848,729 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 10,552,569 shares. The stock had previously closed at $25.13.

Analysts Set New Price Targets

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

AST SpaceMobile Stock Down 3.9 %

The stock has a market capitalization of $6.51 billion, a P/E ratio of -19.51 and a beta of 1.62. The company has a debt-to-equity ratio of 0.83, a quick ratio of 6.38 and a current ratio of 6.38. The stock’s fifty day simple moving average is $27.12 and its two-hundred day simple moving average is $16.56.

AST SpaceMobile (NASDAQ:ASTS) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.05. The firm had revenue of $0.90 million during the quarter, compared to analyst estimates of $2.00 million. As a group, research analysts expect that AST SpaceMobile, Inc. will post -0.88 EPS for the current fiscal year.

Insider Activity at AST SpaceMobile

In related news, Director Adriana Cisneros bought 4,934 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average price of $26.32 per share, for a total transaction of $129,862.88. Following the transaction, the director now directly owns 774,772 shares of the company’s stock, valued at approximately $20,391,999.04. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other AST SpaceMobile news, Director Adriana Cisneros acquired 4,934 shares of the stock in a transaction on Friday, September 6th. The shares were purchased at an average price of $26.32 per share, for a total transaction of $129,862.88. Following the completion of the acquisition, the director now owns 774,772 shares in the company, valued at approximately $20,391,999.04. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Shanti B. Gupta sold 80,000 shares of the company’s stock in a transaction 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 transaction, the chief operating officer now owns 393,232 shares in the company, valued at approximately $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 worth $3,220,524 in the last quarter. Company insiders own 41.80% of the company’s stock.

Institutional Trading of AST SpaceMobile

Institutional investors have recently made changes to their positions in the company. Fairfield Financial Advisors LTD bought a new stake in shares of AST SpaceMobile in the 3rd quarter worth $26,000. Future Financial Wealth Managment LLC purchased a new stake in AST SpaceMobile during the third quarter valued at about $105,000. Amalgamated Bank lifted its holdings in AST SpaceMobile by 17.4% during the third quarter. Amalgamated Bank now owns 4,578 shares of the company’s stock valued at $120,000 after purchasing an additional 679 shares during the last quarter. Capital Investment Advisors LLC purchased a new stake in shares of AST SpaceMobile in the third quarter worth about $216,000. Finally, Allworth Financial LP lifted its holdings in shares of AST SpaceMobile by 3,554.0% in the third quarter. Allworth Financial LP now owns 9,208 shares of the company’s stock worth $241,000 after buying an additional 8,956 shares in the last quarter. 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.