AST SpaceMobile (NASDAQ:ASTS) Stock Price Down 2.1% – What’s Next?

AST SpaceMobile, Inc. (NASDAQ:ASTS) shares traded down 2.1% on Tuesday . The company traded as low as $23.45 and last traded at $23.70. 2,439,673 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 10,623,340 shares. The stock had previously closed at $24.21.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. UBS Group raised their target price on shares of AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Scotiabank lowered their target price on shares of AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating on the stock in a research note on Friday, November 15th. Deutsche Bank Aktiengesellschaft raised their target price 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, B. Riley raised their target price on shares of AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, August 29th.

AST SpaceMobile Price Performance

The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31. The business’s 50-day simple moving average is $25.17 and its 200 day simple moving average is $19.61. The firm has a market capitalization of $6.75 billion, a P/E ratio of -10.99 and a beta of 1.64.

Insider Buying and Selling at AST SpaceMobile

In other AST SpaceMobile news, Director Adriana Cisneros purchased 4,934 shares of AST SpaceMobile stock in a transaction on Friday, September 6th. The shares were acquired 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. The trade was a 0.64 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Shanti B. Gupta sold 80,000 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were 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 $10,157,182.56. The trade was a 16.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 127,700 shares of company stock worth $3,220,524 over the last ninety days. Insiders own 41.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ASTS. Vanguard Group Inc. grew its holdings 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 worth $19,325,000 after purchasing an additional 2,217,531 shares during the last quarter. American International Group Inc. grew its holdings 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 worth $164,000 after purchasing an additional 16,568 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of AST SpaceMobile by 71.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 55,335 shares of the company’s stock worth $161,000 after purchasing an additional 22,987 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of AST SpaceMobile by 209.9% in the first quarter. Janus Henderson Group PLC now owns 7,450,467 shares of the company’s stock worth $21,606,000 after purchasing an additional 5,046,667 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of AST SpaceMobile in the second quarter worth approximately $334,000. 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.