AST SpaceMobile (NASDAQ:ASTS) Trading Down 0.3% – Should You Sell?

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) traded down 0.3% during trading on Thursday . The stock traded as low as $22.90 and last traded at $23.29. 1,812,868 shares traded hands during trading, a decline of 83% from the average session volume of 10,412,544 shares. The stock had previously closed at $23.36.

Wall Street Analyst Weigh In

ASTS has been the topic of several research analyst reports. UBS Group boosted their price target on shares of AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a report on Friday, November 15th. B. Riley boosted their target price on AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Deutsche Bank Aktiengesellschaft lifted their price target on AST SpaceMobile from $22.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Finally, Scotiabank lowered their price target on AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating for the company in a research note on Friday, November 15th.

AST SpaceMobile Stock Performance

The company has a market cap of $6.75 billion, a price-to-earnings ratio of -10.99 and a beta of 1.60. 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 firm has a fifty day simple moving average of $24.68 and a 200 day simple moving average of $21.61.

Insider Buying and Selling

In other AST SpaceMobile news, President Scott Wisniewski sold 2,700 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $23.12, for a total transaction of $62,424.00. Following the transaction, the president now owns 712,660 shares in the company, valued at approximately $16,476,699.20. This trade represents a 0.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Shanti B. Gupta sold 80,000 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were 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 directly owns 393,232 shares of the company’s stock, valued at $10,157,182.56. The trade was a 16.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 127,700 shares of company stock worth $3,220,524 in the last 90 days. 41.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Amalgamated Bank lifted its holdings in shares of AST SpaceMobile by 17.4% in the third quarter. Amalgamated Bank now owns 4,578 shares of the company’s stock valued at $120,000 after purchasing an additional 679 shares in the last quarter. Victory Capital Management Inc. lifted its position in AST SpaceMobile by 5.5% during the second quarter. Victory Capital Management Inc. now owns 15,542 shares of the company’s stock worth $180,000 after purchasing an additional 814 shares during the period. Fairfield Financial Advisors LTD acquired a new stake in AST SpaceMobile during the third quarter worth about $26,000. Hollencrest Capital Management bought a new position in AST SpaceMobile in the 3rd quarter valued at about $26,000. Finally, Calton & Associates Inc. raised its position in shares of AST SpaceMobile by 14.5% in the 3rd quarter. Calton & Associates Inc. now owns 12,600 shares of the company’s stock valued at $329,000 after buying an additional 1,600 shares in the last quarter. 60.95% of the stock is owned by institutional investors and hedge funds.

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.