AST SpaceMobile (NASDAQ:ASTS) Trading Down 2.9% – Time to Sell?

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) traded down 2.9% during trading on Thursday . The stock traded as low as $24.35 and last traded at $24.39. 1,848,729 shares were traded during trading, a decline of 82% from the average session volume of 10,552,569 shares. The stock had previously closed at $25.13.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ASTS shares. Deutsche Bank Aktiengesellschaft increased their price objective 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. UBS Group raised their price target on shares of AST SpaceMobile from $13.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. B. Riley raised their price target on shares of AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Finally, Scotiabank raised their price target 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.

AST SpaceMobile Stock Down 3.9 %

The business’s 50 day simple moving average is $27.12 and its 200-day simple moving average is $16.56. The company has a market cap of $6.51 billion, a price-to-earnings ratio of -19.51 and a beta of 1.62. The company has a debt-to-equity ratio of 0.83, a quick ratio of 6.38 and a current ratio of 6.38.

AST SpaceMobile (NASDAQ:ASTS) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.05. The business had revenue of $0.90 million during the quarter, compared to analyst estimates of $2.00 million. Sell-side analysts expect that AST SpaceMobile, Inc. will post -0.88 earnings per share for the current year.

Insiders Place Their Bets

In other AST SpaceMobile news, President Scott Wisniewski sold 2,700 shares of the company’s stock in a transaction dated 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 directly owns 712,660 shares of the company’s stock, valued at approximately $16,476,699.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other AST SpaceMobile news, COO Shanti B. Gupta sold 80,000 shares of the stock in a transaction on Monday, September 30th. The shares were 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 in the company, valued at approximately $10,157,182.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Scott Wisniewski sold 2,700 shares of the stock in a transaction on 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 sale, the president now owns 712,660 shares in the company, valued at approximately $16,476,699.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 127,700 shares of company stock valued at $3,220,524. 41.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AST SpaceMobile

Several large investors have recently made changes to their positions in the stock. Fairfield Financial Advisors LTD bought a new position in AST SpaceMobile in the third quarter valued at $26,000. BNP Paribas bought a new position in AST SpaceMobile in the first quarter valued at $43,000. Principal Financial Group Inc. bought a new position in AST SpaceMobile in the first quarter valued at $45,000. Black Maple Capital Management LP bought a new position in AST SpaceMobile in the first quarter valued at $87,000. Finally, Future Financial Wealth Managment LLC bought a new position in AST SpaceMobile in the third quarter valued at $105,000. 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.