AST SpaceMobile (NASDAQ:ASTS) Trading Down 3.7% – Time to Sell?

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) were down 3.7% during mid-day trading on Thursday . The stock traded as low as $26.85 and last traded at $26.85. Approximately 6,401,156 shares traded hands during trading, a decline of 40% from the average daily volume of 10,594,812 shares. The stock had previously closed at $27.89.

Analysts Set New Price Targets

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

AST SpaceMobile Trading Down 3.5 %

The firm has a market capitalization of $7.25 billion, a P/E ratio of -21.48 and a beta of 1.64. The company has a quick ratio of 6.38, a current ratio of 6.38 and a debt-to-equity ratio of 0.83. The stock has a fifty day simple moving average of $25.70 and a 200 day simple moving average of $18.08.

AST SpaceMobile (NASDAQ:ASTS) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.05. The company had revenue of $0.90 million during the quarter, compared to the consensus estimate of $2.00 million. As a group, research analysts forecast that AST SpaceMobile, Inc. will post -0.88 EPS for the current year.

Insider Activity

In other news, Director Adriana Cisneros acquired 4,934 shares of AST SpaceMobile stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average price of $26.32 per share, for a total transaction of $129,862.88. Following the purchase, the director now directly owns 774,772 shares in the company, valued at $20,391,999.04. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Adriana Cisneros acquired 4,934 shares of the business’s stock in a transaction on Friday, September 6th. The stock was bought at an average price of $26.32 per share, with a total value of $129,862.88. Following the completion of the acquisition, the director now owns 774,772 shares of the company’s stock, valued at approximately $20,391,999.04. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Scott Wisniewski sold 2,700 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $23.12, for a total transaction of $62,424.00. Following the transaction, the president now owns 712,660 shares of the company’s stock, valued at approximately $16,476,699.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 127,700 shares of company stock worth $3,220,524. Company insiders own 41.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Amalgamated Bank increased its stake in AST SpaceMobile by 17.4% during the third quarter. Amalgamated Bank now owns 4,578 shares of the company’s stock worth $120,000 after purchasing an additional 679 shares during the period. Victory Capital Management Inc. increased its stake in AST SpaceMobile by 5.5% during the 2nd quarter. Victory Capital Management Inc. now owns 15,542 shares of the company’s stock worth $180,000 after buying an additional 814 shares during the period. Fairfield Financial Advisors LTD acquired a new stake in AST SpaceMobile during the 3rd quarter worth approximately $26,000. Hollencrest Capital Management purchased a new position in AST SpaceMobile in the 3rd quarter valued at approximately $26,000. Finally, Calton & Associates Inc. boosted its position in AST SpaceMobile by 14.5% in the 3rd quarter. Calton & Associates Inc. now owns 12,600 shares of the company’s stock valued at $329,000 after buying an additional 1,600 shares during the period. Institutional investors and hedge funds 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.