AST SpaceMobile (NASDAQ:ASTS) Shares Down 0.2% – What’s Next?

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s share price fell 0.2% on Tuesday . The stock traded as low as $24.43 and last traded at $24.70. 3,035,681 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 10,522,141 shares. The stock had previously closed at $24.76.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ASTS shares. 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. 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. UBS Group upped their target price 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. Finally, 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 report on Wednesday, September 4th.

AST SpaceMobile Stock Performance

The company has a debt-to-equity ratio of 0.83, a current ratio of 6.38 and a quick ratio of 6.38. The stock has a market capitalization of $6.54 billion, a PE ratio of -19.76 and a beta of 1.64. The firm has a fifty day moving average price of $25.91 and a two-hundred day moving average price of $17.86.

AST SpaceMobile (NASDAQ:ASTS) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.14) 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 analysts’ expectations of $2.00 million. Research analysts expect that AST SpaceMobile, Inc. will post -0.88 EPS for the current year.

Insider Activity at AST SpaceMobile

In other AST SpaceMobile news, COO Shanti B. Gupta sold 80,000 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $25.83, for a total value of $2,066,400.00. Following the completion of the sale, the chief operating officer now directly owns 393,232 shares in the company, valued at $10,157,182.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other AST SpaceMobile news, Director Adriana Cisneros acquired 4,934 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were acquired at an average cost of $26.32 per share, with a total value of $129,862.88. Following the acquisition, 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 purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Shanti B. Gupta sold 80,000 shares of the stock in a transaction dated 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 sale, the chief operating officer now directly owns 393,232 shares in the company, valued at $10,157,182.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 127,700 shares of company stock valued at $3,220,524 over the last ninety days. 41.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On AST SpaceMobile

Several large investors have recently made changes to their positions in the company. Fairfield Financial Advisors LTD acquired a new stake in AST SpaceMobile in the third quarter valued at approximately $26,000. Hollencrest Capital Management acquired a new stake in AST SpaceMobile in the 3rd quarter valued at $26,000. Rakuten Securities Inc. acquired a new position in AST SpaceMobile during the third quarter worth $68,000. Black Maple Capital Management LP purchased a new stake in shares of AST SpaceMobile during the first quarter worth about $87,000. Finally, KBC Group NV acquired a new position in shares of AST SpaceMobile during the 3rd quarter worth about $104,000. 60.95% of the stock is currently owned by institutional investors and hedge funds.

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.