AST SpaceMobile (NASDAQ:ASTS) Shares Down 3.2%

AST SpaceMobile, Inc. (NASDAQ:ASTS) fell 3.2% on Monday . The company traded as low as $27.40 and last traded at $28.88. 5,890,883 shares were traded during trading, a decline of 43% from the average session volume of 10,423,117 shares. The stock had previously closed at $29.83.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. UBS Group upped their target price on AST SpaceMobile from $13.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of AST SpaceMobile from $22.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Scotiabank increased their price target on shares of AST SpaceMobile from $28.00 to $45.90 and gave the stock a “sector outperform” rating in a report on Monday, August 26th. Finally, 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.

AST SpaceMobile Stock Performance

The firm has a market capitalization of $7.68 billion, a price-to-earnings ratio of -29.47 and a beta of 1.63. The company has a debt-to-equity ratio of 0.83, a quick ratio of 6.38 and a current ratio of 6.38. The company has a 50 day moving average price of $22.67 and a two-hundred day moving average price of $11.28.

AST SpaceMobile (NASDAQ:ASTS) last posted 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 company had revenue of $0.90 million for the quarter, compared to analyst estimates of $2.00 million. On average, research analysts forecast that AST SpaceMobile, Inc. will post -0.88 EPS for the current year.

Insiders Place Their Bets

In other news, Director Adriana Cisneros acquired 4,934 shares of AST SpaceMobile stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average cost of $26.32 per share, with a total value of $129,862.88. Following the purchase, the director now owns 774,772 shares in the company, valued at $20,391,999.04. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 56.56% of the stock is owned by company insiders.

Hedge Funds Weigh In On AST SpaceMobile

Several hedge funds and other institutional investors have recently modified their holdings of the business. Janus Henderson Group PLC raised its holdings in AST SpaceMobile by 209.9% in the 1st quarter. Janus Henderson Group PLC now owns 7,450,467 shares of the company’s stock valued at $21,606,000 after acquiring an additional 5,046,667 shares during the last quarter. Vanguard Group Inc. boosted its stake in AST SpaceMobile by 49.9% during the first quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company’s stock worth $19,325,000 after buying an additional 2,217,531 shares during the last quarter. Broad Run Investment Management LLC grew its holdings in AST SpaceMobile by 74.8% in the 4th quarter. Broad Run Investment Management LLC now owns 3,962,853 shares of the company’s stock valued at $23,896,000 after buying an additional 1,695,805 shares in the last quarter. Masters Capital Management LLC acquired a new stake in shares of AST SpaceMobile in the 1st quarter worth $2,900,000. Finally, Oppenheimer & Co. Inc. purchased a new position in shares of AST SpaceMobile during the 2nd quarter worth $9,270,000. 60.95% of the stock is owned by hedge funds and other institutional investors.

About AST SpaceMobile

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.