AST SpaceMobile (NASDAQ:ASTS) Shares Down 3.9%

AST SpaceMobile, Inc. (NASDAQ:ASTS) traded down 3.9% during trading on Friday . The company traded as low as $26.66 and last traded at $27.50. 5,143,281 shares traded hands during mid-day trading, a decline of 51% from the average session volume of 10,479,924 shares. The stock had previously closed at $28.61.

Wall Street Analyst Weigh In

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

AST SpaceMobile Trading Down 7.5 %

The firm has a market capitalization of $6.81 billion, a P/E ratio of -27.30 and a beta of 1.63. The company has a current ratio of 6.38, a quick ratio of 6.38 and a debt-to-equity ratio of 0.83. The business has a 50 day moving average of $23.67 and a 200-day moving average of $11.76.

AST SpaceMobile (NASDAQ:ASTS) last announced its earnings results on Wednesday, August 14th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.05. The firm had revenue of $0.90 million during the quarter, compared to analyst estimates of $2.00 million. Analysts anticipate that AST SpaceMobile, Inc. will post -0.88 EPS for the current fiscal year.

Insider Buying and Selling at AST SpaceMobile

In related news, Director Adriana Cisneros acquired 4,934 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was bought at an average price of $26.32 per share, with a total value of $129,862.88. Following the acquisition, the director now owns 774,772 shares in the company, valued at approximately $20,391,999.04. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 56.56% of the company’s stock.

Hedge Funds Weigh In On AST SpaceMobile

A number of institutional investors have recently bought and sold shares of ASTS. Vanguard Group Inc. lifted its position in shares of 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 buying an additional 2,217,531 shares during the last quarter. American International Group Inc. boosted its position in AST SpaceMobile by 41.5% during the first quarter. American International Group Inc. now owns 56,527 shares of the company’s stock worth $164,000 after purchasing an additional 16,568 shares during the period. Virtu Financial LLC bought a new position in shares of AST SpaceMobile in the fourth quarter valued at about $259,000. PNC Financial Services Group Inc. lifted its stake in shares of AST SpaceMobile by 319.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 163,296 shares of the company’s stock worth $985,000 after buying an additional 124,322 shares during the last quarter. Finally, NewGen Asset Management Ltd bought a new stake in shares of AST SpaceMobile during the 2nd quarter worth about $2,902,000. 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.