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

AST SpaceMobile, Inc. (NASDAQ:ASTS)’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.

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:ASTS) 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

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.