AST SpaceMobile (NASDAQ:ASTS) Shares Down 0.3% – Should You Sell?

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) traded down 0.3% during mid-day trading on Friday . The company traded as low as $23.05 and last traded at $23.25. 1,386,769 shares traded hands during trading, a decline of 87% from the average session volume of 10,472,276 shares. The stock had previously closed at $23.33.

Analyst Upgrades and Downgrades

ASTS has been the topic of a number of recent analyst reports. UBS Group increased their target price on AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Scotiabank decreased their price objective on shares of AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating on the stock in a report on Friday, November 15th. B. Riley boosted their target price on shares of AST SpaceMobile from $26.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Finally, Deutsche Bank Aktiengesellschaft raised 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.

AST SpaceMobile Stock Up 0.2 %

The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31. The business has a fifty day simple moving average of $24.72 and a two-hundred day simple moving average of $21.04. The company has a market cap of $6.77 billion, a PE ratio of -10.97 and a beta of 1.60.

Insider Transactions at AST SpaceMobile

In other AST SpaceMobile news, President Scott Wisniewski sold 2,700 shares of the company’s stock in a transaction on Monday, September 30th. The stock was 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 in the company, valued at $16,476,699.20. This represents a 0.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Huiwen Yao sold 45,000 shares of AST SpaceMobile stock in a transaction 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 transaction, the chief technology officer now owns 55,000 shares in the company, valued at approximately $1,334,300. This represents a 45.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 127,700 shares of company stock valued at $3,220,524. Corporate insiders own 41.80% of the company’s stock.

Institutional Trading of AST SpaceMobile

Several institutional investors and hedge funds have recently bought and sold shares of ASTS. Price T Rowe Associates Inc. MD boosted its stake 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 valued at $161,000 after purchasing an additional 22,987 shares during the period. SG Americas Securities LLC purchased a new position in AST SpaceMobile in the 2nd quarter valued at approximately $334,000. Accordant Advisory Group Inc boosted its position in AST SpaceMobile by 2.0% in the 2nd quarter. Accordant Advisory Group Inc now owns 162,823 shares of the company’s stock valued at $1,890,000 after buying an additional 3,146 shares during the period. Calton & Associates Inc. acquired a new position in shares of AST SpaceMobile in the second quarter worth $128,000. Finally, MBE Wealth Management LLC increased its position in shares of AST SpaceMobile by 34.1% during the second quarter. MBE Wealth Management LLC now owns 27,000 shares of the company’s stock worth $313,000 after acquiring an additional 6,870 shares during the period. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

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.