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

AST SpaceMobile, Inc. (NASDAQ:ASTSGet Free Report)’s stock price was down 3.7% during mid-day trading on Wednesday . The company traded as low as $26.70 and last traded at $26.87. Approximately 2,209,280 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 10,520,458 shares. The stock had previously closed at $27.89.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. B. Riley boosted their target price on AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Deutsche Bank Aktiengesellschaft boosted their price objective on AST SpaceMobile from $22.00 to $63.00 and gave the company a “buy” rating in a research note 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 note on Monday, August 26th. Finally, UBS Group increased their target price on AST SpaceMobile from $13.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th.

Check Out Our Latest Stock Analysis on AST SpaceMobile

AST SpaceMobile Trading Down 4.5 %

The firm’s 50 day moving average is $27.84 and its 200 day moving average is $15.80. 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 company has a market cap of $6.75 billion, a PE ratio of -20.06 and a beta of 1.62.

AST SpaceMobile (NASDAQ:ASTSGet Free Report) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates 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. On average, equities analysts anticipate that AST SpaceMobile, Inc. will post -0.88 earnings per share for the current year.

Insiders Place Their Bets

In other news, President Scott Wisniewski sold 2,700 shares of the business’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 completion of the transaction, the president now owns 712,660 shares of the company’s stock, valued at approximately $16,476,699.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other AST SpaceMobile news, President Scott Wisniewski sold 2,700 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $23.12, for a total value of $62,424.00. Following the completion of the transaction, the president now owns 712,660 shares of the company’s stock, valued at $16,476,699.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Adriana Cisneros acquired 4,934 shares of the stock in a transaction dated 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 owns 774,772 shares in the company, valued at approximately $20,391,999.04. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 127,700 shares of company stock worth $3,220,524 in the last ninety days. 41.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AST SpaceMobile

A number of hedge funds and other institutional investors have recently modified their holdings of ASTS. BNP Paribas purchased a new position in shares of AST SpaceMobile during the 1st quarter valued at about $43,000. Principal Financial Group Inc. bought a new position in shares of AST SpaceMobile during the first quarter valued at about $45,000. Black Maple Capital Management LP purchased a new position in shares of AST SpaceMobile in the first quarter worth about $87,000. Future Financial Wealth Managment LLC bought a new stake in shares of AST SpaceMobile in the 3rd quarter valued at about $105,000. Finally, Calton & Associates Inc. purchased a new stake in AST SpaceMobile during the 2nd quarter valued at about $128,000. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

AST SpaceMobile Company Profile

(Get Free Report)

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.

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