AST SpaceMobile (NASDAQ:ASTS) Trading Down 3.5% – Time to Sell?

AST SpaceMobile, Inc. (NASDAQ:ASTS) fell 3.5% during mid-day trading on Friday . The stock traded as low as $27.42 and last traded at $27.48. 3,456,544 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 10,537,904 shares. The stock had previously closed at $28.49.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Scotiabank raised 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 increased their target price 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 AST SpaceMobile from $13.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on AST SpaceMobile from $22.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th.

AST SpaceMobile Trading Down 1.2 %

The business has a 50 day simple moving average of $27.56 and a two-hundred day simple moving average of $15.21. 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 company has a market cap of $7.25 billion, a PE ratio of -28.71 and a beta of 1.62.

AST SpaceMobile (NASDAQ:ASTS) last released its earnings results on Wednesday, August 14th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.05. The business had revenue of $0.90 million for the quarter, compared to analysts’ expectations of $2.00 million. On average, analysts forecast that AST SpaceMobile, Inc. will post -0.88 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CTO Huiwen Yao sold 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $24.26, for a total transaction of $1,091,700.00. Following the completion of the transaction, the chief technology officer now owns 55,000 shares of the company’s stock, valued at approximately $1,334,300. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CTO Huiwen Yao sold 45,000 shares of the stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $24.26, for a total transaction of $1,091,700.00. Following the completion of the sale, the chief technology officer now owns 55,000 shares of the company’s stock, valued at approximately $1,334,300. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Adriana Cisneros purchased 4,934 shares of AST SpaceMobile stock in a transaction on Friday, September 6th. The shares were acquired at an average cost of $26.32 per share, for a total transaction of $129,862.88. Following the completion of the transaction, the director now owns 774,772 shares of the company’s stock, valued at $20,391,999.04. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 127,700 shares of company stock valued at $3,220,524. Insiders own 56.56% of the company’s stock.

Institutional Trading of AST SpaceMobile

Large investors have recently bought and sold shares of the company. Janus Henderson Group PLC grew its stake in AST SpaceMobile by 209.9% during the 1st quarter. Janus Henderson Group PLC now owns 7,450,467 shares of the company’s stock valued at $21,606,000 after purchasing an additional 5,046,667 shares in the last quarter. Vanguard Group Inc. grew its position in shares of 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 in the last quarter. Masters Capital Management LLC bought a new stake in shares of AST SpaceMobile in the 1st quarter worth about $2,900,000. Oppenheimer & Co. Inc. bought a new position in shares of AST SpaceMobile during the second quarter worth about $9,270,000. Finally, Renaissance Technologies LLC acquired a new position in AST SpaceMobile in the second quarter worth about $4,757,000. 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.