AST SpaceMobile (NASDAQ:ASTS) Trading Down 3.2%

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s share price dropped 3.2% during trading on Monday . The company traded as low as $27.40 and last traded at $28.88. Approximately 5,890,883 shares changed hands during mid-day trading, a decline of 43% from the average daily volume of 10,423,117 shares. The stock had previously closed at $29.83.

Wall Street Analysts Forecast Growth

ASTS has been the subject of several recent research reports. B. Riley boosted their price objective on AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, August 29th. UBS Group boosted their price target on shares of AST SpaceMobile from $13.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Scotiabank raised their price objective on shares of AST SpaceMobile from $28.00 to $45.90 and gave the company a “sector outperform” rating in a research note on Monday, August 26th. Finally, Deutsche Bank Aktiengesellschaft boosted 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 Stock Performance

The company has a 50-day moving average of $23.34 and a 200-day moving average of $11.64. The company has a market cap of $7.29 billion, a PE ratio of -28.88 and a beta of 1.63. The company has a quick ratio of 6.38, a current ratio of 6.38 and a debt-to-equity ratio of 0.83.

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 analysts’ consensus estimates of ($0.19) by $0.05. The firm had revenue of $0.90 million for the quarter, compared to analysts’ expectations of $2.00 million. As a group, analysts anticipate that AST SpaceMobile, Inc. will post -0.88 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Adriana Cisneros acquired 4,934 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was purchased at an average price of $26.32 per share, for a total transaction of $129,862.88. Following the purchase, 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 SEC, which is available at the SEC website. 56.56% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Janus Henderson Group PLC raised its stake in shares of AST SpaceMobile by 209.9% during the 1st quarter. Janus Henderson Group PLC now owns 7,450,467 shares of the company’s stock worth $21,606,000 after purchasing an additional 5,046,667 shares during the period. Vanguard Group Inc. increased its holdings in AST SpaceMobile by 49.9% during the first quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company’s stock worth $19,325,000 after buying an additional 2,217,531 shares during the last quarter. Broad Run Investment Management LLC raised its position in AST SpaceMobile by 74.8% in the fourth quarter. Broad Run Investment Management LLC now owns 3,962,853 shares of the company’s stock worth $23,896,000 after acquiring an additional 1,695,805 shares during the period. Masters Capital Management LLC purchased a new position in AST SpaceMobile in the first quarter valued at about $2,900,000. Finally, Oppenheimer & Co. Inc. purchased a new position in AST SpaceMobile in the second quarter valued at about $9,270,000. 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.