AST SpaceMobile (NASDAQ:ASTS) Trading Down 1.1% – Time to Sell?

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) traded down 1.1% on Friday . The stock traded as low as $23.37 and last traded at $23.87. 1,688,241 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 10,641,028 shares. The stock had previously closed at $24.14.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Scotiabank dropped their price objective on AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating on the stock in a research report on Friday, November 15th. UBS Group lifted their price target on shares of AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. B. Riley increased their price objective on shares of AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price 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.

AST SpaceMobile Trading Down 0.2 %

The stock’s fifty day simple moving average is $25.37 and its 200 day simple moving average is $19.19. The firm has a market capitalization of $6.98 billion, a PE ratio of -11.37 and a beta of 1.64. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31.

Insider Transactions at AST SpaceMobile

In other AST SpaceMobile news, COO Shanti B. Gupta sold 80,000 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $25.83, for a total transaction of $2,066,400.00. Following the completion of the sale, the chief operating officer now owns 393,232 shares of the company’s stock, valued at approximately $10,157,182.56. The trade was a 16.91 % 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, Director Adriana Cisneros acquired 4,934 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was bought at an average cost of $26.32 per share, for a total transaction of $129,862.88. Following the purchase, the director now directly 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 127,700 shares of company stock worth $3,220,524 in the last three months. Corporate insiders own 41.80% of the company’s stock.

Institutional Trading of AST SpaceMobile

A number of hedge funds and other institutional investors have recently modified their holdings of ASTS. Fairfield Financial Advisors LTD bought a new position in AST SpaceMobile in the 3rd quarter worth $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. purchased a new stake in shares of AST SpaceMobile during the third 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. lifted 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 worth $91,000 after purchasing an additional 3,380 shares in the last quarter. 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.