AST SpaceMobile (NASDAQ:ASTS) Shares Down 0.8% – What’s Next?

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s stock price traded down 0.8% during mid-day trading on Tuesday . The stock traded as low as $26.02 and last traded at $26.51. 1,783,010 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 10,580,923 shares. The stock had previously closed at $26.73.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ASTS shares. UBS Group lifted their price objective on AST SpaceMobile from $13.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft lifted their price objective on AST SpaceMobile from $22.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Scotiabank upped their target price 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 target 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 Price Performance

The company has a quick ratio of 6.38, a current ratio of 6.38 and a debt-to-equity ratio of 0.83. The stock’s 50-day moving average price is $27.12 and its 200-day moving average price is $16.56. The company has a market capitalization of $6.41 billion, a price-to-earnings ratio of -19.51 and a beta of 1.62.

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

Insiders Place Their Bets

In other news, President Scott Wisniewski sold 2,700 shares of AST SpaceMobile 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 completion of the sale, the president now owns 712,660 shares in the company, valued at $16,476,699.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, President Scott Wisniewski sold 2,700 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $23.12, for a total value 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 represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Shanti B. Gupta sold 80,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief operating officer now owns 393,232 shares in the company, valued at approximately $10,157,182.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 127,700 shares of company stock valued at $3,220,524. 41.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ASTS. Janus Henderson Group PLC grew its holdings in shares of 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 buying an additional 5,046,667 shares during the period. Vanguard Group Inc. grew its stake in AST SpaceMobile by 49.9% in the first quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company’s stock valued at $19,325,000 after acquiring an additional 2,217,531 shares during the period. Masters Capital Management LLC bought a new stake in shares of AST SpaceMobile in the first quarter worth about $2,900,000. Oppenheimer & Co. Inc. acquired a new stake in shares of AST SpaceMobile during the second quarter worth about $9,270,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of AST SpaceMobile by 56.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 472,769 shares of the company’s stock valued at $5,489,000 after purchasing an additional 170,440 shares in the last quarter. Institutional investors and hedge funds own 60.95% of the company’s stock.

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.