AST SpaceMobile (NASDAQ:ASTS) Stock Price Down 2.4% – Should You Sell?

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) were down 2.4% during trading on Tuesday . The stock traded as low as $24.11 and last traded at $25.18. Approximately 2,689,437 shares were traded during trading, a decline of 75% from the average daily volume of 10,662,341 shares. The stock had previously closed at $25.80.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ASTS shares. Deutsche Bank Aktiengesellschaft lifted their price target on shares of AST SpaceMobile from $22.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Scotiabank decreased their price target on AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating for the company in a research report on Friday, November 15th. UBS Group boosted their price objective on AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, B. Riley lifted 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 company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31. The business has a fifty day moving average price of $25.54 and a two-hundred day moving average price of $18.89.

Insider Activity

In other AST SpaceMobile news, Director Adriana Cisneros acquired 4,934 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average cost of $26.32 per share, for a total transaction 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 trade represents a 0.64 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Huiwen Yao sold 45,000 shares of the stock in a transaction on 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 transaction, the chief technology officer now directly owns 55,000 shares in the company, valued at $1,334,300. The trade was a 45.00 % 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 worth $3,220,524 in the last ninety days. Corporate insiders own 41.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ASTS. Fairfield Financial Advisors LTD acquired a new position in AST SpaceMobile during the third quarter valued at approximately $26,000. Hollencrest Capital Management bought a new position in shares of AST SpaceMobile in the third quarter worth about $26,000. Rakuten Securities Inc. acquired a new position in shares of AST SpaceMobile during the 3rd quarter worth about $68,000. Black Maple Capital Management LP bought a new stake in AST SpaceMobile during the 1st quarter valued at approximately $87,000. Finally, Sunbelt Securities Inc. grew its holdings in AST SpaceMobile by 3,380.0% in the 3rd quarter. Sunbelt Securities Inc. now owns 3,480 shares of the company’s stock valued at $91,000 after buying an additional 3,380 shares during the last quarter. 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.