AST SpaceMobile (NASDAQ:ASTS) Shares Down 1.7%

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s stock price was down 1.7% on Monday . The stock traded as low as $25.95 and last traded at $26.06. Approximately 2,431,756 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 10,513,649 shares. The stock had previously closed at $26.50.

Analyst Upgrades and Downgrades

Several research firms have commented on ASTS. Deutsche Bank Aktiengesellschaft upped 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. B. Riley raised their target price on AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. UBS Group boosted their price target on AST SpaceMobile from $13.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Finally, Scotiabank raised their price target on AST SpaceMobile from $28.00 to $45.90 and gave the company a “sector outperform” rating in a report on Monday, August 26th.

AST SpaceMobile Stock Up 1.0 %

The company has a debt-to-equity ratio of 0.83, a current ratio of 6.38 and a quick ratio of 6.38. The firm has a market capitalization of $6.89 billion, a P/E ratio of -26.59 and a beta of 1.63. The firm’s fifty day moving average price is $24.28 and its 200-day moving average price is $12.16.

AST SpaceMobile (NASDAQ:ASTS) last issued its quarterly 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 for the quarter, compared to the consensus estimate of $2.00 million. As a group, equities research analysts forecast that AST SpaceMobile, Inc. will post -0.88 earnings per share for the current year.

Insider Buying and Selling at AST SpaceMobile

In other AST SpaceMobile news, Director Adriana Cisneros acquired 4,934 shares of the stock in a transaction dated Friday, September 6th. The shares were bought at an average price of $26.32 per share, with a total value of $129,862.88. Following the purchase, the director now directly owns 774,772 shares of the company’s stock, valued at approximately $20,391,999.04. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 56.56% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. BNP Paribas acquired a new stake in shares of AST SpaceMobile during the 1st quarter valued at $43,000. Principal Financial Group Inc. acquired a new position in shares of AST SpaceMobile in the 1st quarter valued at $45,000. Victory Capital Management Inc. purchased a new position in AST SpaceMobile in the 4th quarter worth about $65,000. Cantor Fitzgerald L. P. purchased a new position in AST SpaceMobile in the 4th quarter worth about $66,000. Finally, Rathbones Group PLC acquired a new stake in AST SpaceMobile during the 4th quarter worth about $76,000. Institutional investors and hedge funds 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.