AST SpaceMobile (NASDAQ:ASTS) Trading Down 0.3% – Time to Sell?

AST SpaceMobile, Inc. (NASDAQ:ASTS) shares dropped 0.3% during trading on Thursday . The stock traded as low as $22.90 and last traded at $23.29. Approximately 1,812,868 shares were traded during trading, a decline of 83% from the average daily volume of 10,412,544 shares. The stock had previously closed at $23.36.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ASTS. Deutsche Bank Aktiengesellschaft lifted their price target on shares of AST SpaceMobile from $22.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. UBS Group increased their price target on AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, November 15th. B. Riley boosted their price target on AST SpaceMobile from $26.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, Scotiabank cut their price objective on AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating for the company in a report on Friday, November 15th.

AST SpaceMobile Trading Down 0.5 %

The stock has a market cap of $6.63 billion, a price-to-earnings ratio of -10.79 and a beta of 1.60. The business has a 50-day simple moving average of $24.65 and a two-hundred day simple moving average of $21.72. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80.

Insider Activity at AST SpaceMobile

In other AST SpaceMobile news, President Scott Wisniewski sold 2,700 shares of the company’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $23.12, for a total value of $62,424.00. Following the transaction, the president now directly owns 712,660 shares of the company’s stock, valued at $16,476,699.20. This represents a 0.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Shanti B. Gupta sold 80,000 shares of AST SpaceMobile 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 sale, the chief operating officer now directly owns 393,232 shares of the company’s stock, valued at $10,157,182.56. This represents a 16.91 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 127,700 shares of company stock worth $3,220,524. Company insiders own 41.80% of the company’s stock.

Hedge Funds Weigh In On AST SpaceMobile

Several institutional investors and hedge funds have recently modified their holdings of ASTS. B. Riley Wealth Advisors Inc. acquired a new stake in AST SpaceMobile during the second quarter worth approximately $278,000. Van ECK Associates Corp grew its holdings in shares of AST SpaceMobile by 141.1% during the 3rd quarter. Van ECK Associates Corp now owns 103,437 shares of the company’s stock worth $2,716,000 after purchasing an additional 60,530 shares in the last quarter. Algert Global LLC bought a new position in shares of AST SpaceMobile in the third quarter worth $768,000. Americana Partners LLC bought a new position in shares of AST SpaceMobile in the third quarter worth $673,000. Finally, Oppenheimer & Co. Inc. lifted its position in AST SpaceMobile by 6.0% during the third quarter. Oppenheimer & Co. Inc. now owns 846,072 shares of the company’s stock worth $22,125,000 after purchasing an additional 47,600 shares during the period. 60.95% of the stock is currently owned by institutional investors and hedge funds.

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.