AST SpaceMobile (NASDAQ:ASTS) Shares Down 2.8%

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s stock price was down 2.8% on Tuesday . The stock traded as low as $25.75 and last traded at $25.86. Approximately 1,900,277 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 10,493,173 shares. The stock had previously closed at $26.61.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Scotiabank upped their price objective 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. UBS Group increased their price target on shares of AST SpaceMobile from $13.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. B. Riley lifted their price objective on 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 increased their price objective on shares of AST SpaceMobile from $22.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th.

AST SpaceMobile Stock Down 3.0 %

The company has a 50-day moving average of $24.54 and a two-hundred day moving average of $12.33. The company has a market capitalization of $6.64 billion, a PE ratio of -26.39 and a beta of 1.63. The company has a debt-to-equity ratio of 0.83, a current ratio of 6.38 and a quick ratio of 6.38.

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

Insider Activity at AST SpaceMobile

In related news, Director Adriana Cisneros acquired 4,934 shares of the business’s stock in a transaction on Friday, September 6th. The stock was acquired at an average cost of $26.32 per share, with a total value of $129,862.88. Following the acquisition, the director now directly owns 774,772 shares in the company, valued at approximately $20,391,999.04. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 56.56% of the stock is owned by corporate insiders.

Institutional Trading of AST SpaceMobile

A number of large investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. purchased a new position in AST SpaceMobile in the fourth quarter worth about $65,000. Cantor Fitzgerald L. P. purchased a new stake in shares of AST SpaceMobile during the 4th quarter worth $66,000. Calton & Associates Inc. bought a new stake in shares of AST SpaceMobile in the 2nd quarter valued at about $128,000. Rathbones Group PLC purchased a new position in shares of AST SpaceMobile in the 4th quarter worth approximately $76,000. Finally, BNP Paribas bought a new position in shares of AST SpaceMobile during the 1st quarter worth approximately $43,000. 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.