AST SpaceMobile (NASDAQ:ASTS) Trading Down 2.3% – Time to Sell?

AST SpaceMobile, Inc. (NASDAQ:ASTS) shares were down 2.3% during mid-day trading on Monday . The stock traded as low as $22.12 and last traded at $22.35. Approximately 1,687,615 shares traded hands during trading, a decline of 84% from the average daily volume of 10,388,954 shares. The stock had previously closed at $22.88.

Analyst Upgrades and Downgrades

ASTS has been the subject of several research reports. Scotiabank dropped their target price 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. B. Riley lifted their price objective on shares of AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, August 29th. UBS Group increased their target price on shares of AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of AST SpaceMobile from $22.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th.

AST SpaceMobile Stock Down 1.4 %

The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80. The company has a market cap of $6.53 billion, a PE ratio of -10.64 and a beta of 1.60. The business’s 50 day moving average is $24.65 and its 200-day moving average is $21.90.

Insider Buying and Selling

In other AST SpaceMobile news, President Scott Wisniewski sold 2,700 shares of the firm’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 transaction of $62,424.00. Following the sale, the president now owns 712,660 shares of the company’s stock, valued at approximately $16,476,699.20. This trade represents a 0.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Huiwen Yao sold 45,000 shares of the company’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $24.26, for a total transaction of $1,091,700.00. Following the completion of the transaction, the chief technology officer now owns 55,000 shares of the company’s stock, valued at approximately $1,334,300. The trade was a 45.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 127,700 shares of company stock worth $3,220,524. Corporate insiders own 41.80% of the company’s stock.

Hedge Funds Weigh In On AST SpaceMobile

Hedge funds have recently made changes to their positions in the company. Fairfield Financial Advisors LTD acquired a new stake in shares of AST SpaceMobile in the 3rd quarter valued at about $26,000. Hollencrest Capital Management purchased a new stake in AST SpaceMobile in the third quarter valued at approximately $26,000. Rakuten Securities Inc. acquired a new stake in shares of AST SpaceMobile in the third quarter valued at approximately $68,000. Sunbelt Securities Inc. grew its position in shares of AST SpaceMobile by 3,380.0% during the third quarter. Sunbelt Securities Inc. now owns 3,480 shares of the company’s stock worth $91,000 after acquiring an additional 3,380 shares during the last quarter. Finally, KBC Group NV acquired a new position in shares of AST SpaceMobile in the 3rd quarter valued at $104,000. Hedge funds and other 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.