AST SpaceMobile (NASDAQ:ASTS) Stock Price Down 3.5% – What’s Next?

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s share price was down 3.5% during trading on Friday . The stock traded as low as $27.42 and last traded at $27.48. Approximately 3,456,544 shares changed hands during trading, a decline of 67% from the average daily volume of 10,537,904 shares. The stock had previously closed at $28.49.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ASTS shares. UBS Group increased their price objective on AST SpaceMobile from $13.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft boosted their price target 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 raised 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. Finally, 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 report on Thursday, August 29th.

AST SpaceMobile Stock Performance

The stock has a fifty day moving average price of $27.42 and a 200 day moving average price of $14.94. The company has a current ratio of 6.38, a quick ratio of 6.38 and a debt-to-equity ratio of 0.83. The firm has a market cap of $7.27 billion, a price-to-earnings ratio of -28.04 and a beta of 1.62.

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

Insider Buying and Selling at AST SpaceMobile

In other news, COO Shanti B. Gupta sold 80,000 shares of AST SpaceMobile 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 transaction, the chief operating officer now directly owns 393,232 shares in the company, valued at approximately $10,157,182.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CTO Huiwen Yao sold 45,000 shares of AST SpaceMobile stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $24.26, for a total transaction of $1,091,700.00. Following the sale, the chief technology officer now directly owns 55,000 shares of the company’s stock, valued at $1,334,300. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Shanti B. Gupta sold 80,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief operating officer now directly owns 393,232 shares of the company’s stock, valued at approximately $10,157,182.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 127,700 shares of company stock worth $3,220,524 over the last ninety days. Company insiders own 56.56% of the company’s stock.

Institutional Trading of AST SpaceMobile

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas acquired a new position in AST SpaceMobile in the first quarter valued at about $43,000. Principal Financial Group Inc. acquired a new stake in shares of AST SpaceMobile during the 1st quarter worth approximately $45,000. Black Maple Capital Management LP acquired a new position in shares of AST SpaceMobile in the 1st quarter valued at $87,000. Future Financial Wealth Managment LLC bought a new position in AST SpaceMobile during the third quarter worth about $105,000. Finally, Calton & Associates Inc. acquired a new position in AST SpaceMobile during the second quarter valued at approximately $128,000. Institutional investors 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.