AST SpaceMobile (NASDAQ:ASTS) Stock Price Down 4.4% – Should You Sell?

AST SpaceMobile, Inc. (NASDAQ:ASTSGet Free Report)’s stock price traded down 4.4% during trading on Tuesday . The company traded as low as $23.91 and last traded at $24.02. 2,495,321 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 10,526,354 shares. The stock had previously closed at $25.12.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ASTS shares. Deutsche Bank Aktiengesellschaft increased their price target on AST SpaceMobile from $22.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. B. Riley raised their target price on AST SpaceMobile from $26.00 to $36.00 and gave the stock 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 company a “buy” rating in a research note on Thursday, August 15th. Finally, Scotiabank increased 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.

Check Out Our Latest Stock Report on AST SpaceMobile

AST SpaceMobile Trading Down 2.3 %

The company has a market capitalization of $6.32 billion, a P/E ratio of -24.51 and a beta of 1.62. The company has a debt-to-equity ratio of 0.83, a quick ratio of 6.38 and a current ratio of 6.38. The stock has a fifty day moving average of $27.03 and a 200 day moving average of $14.60.

AST SpaceMobile (NASDAQ:ASTSGet Free Report) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.05. The company had revenue of $0.90 million during the quarter, compared to the consensus estimate of $2.00 million. As a group, equities research analysts anticipate that AST SpaceMobile, Inc. will post -0.88 EPS for the current fiscal year.

Insider Buying and Selling at AST SpaceMobile

In other AST SpaceMobile news, President Scott Wisniewski sold 2,700 shares of the stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $23.12, for a total transaction of $62,424.00. Following the completion of the transaction, the president now owns 712,660 shares of the company’s stock, valued at $16,476,699.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other AST SpaceMobile news, President Scott Wisniewski sold 2,700 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $23.12, for a total value of $62,424.00. Following the transaction, the president now directly owns 712,660 shares in the company, valued at $16,476,699.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Huiwen Yao sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $24.26, for a total transaction of $1,091,700.00. Following the transaction, the chief technology officer now directly owns 55,000 shares in the company, valued at approximately $1,334,300. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 127,700 shares of company stock valued at $3,220,524 in the last three months. 56.56% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AST SpaceMobile

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in AST SpaceMobile by 49.9% during the 1st quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company’s stock valued at $19,325,000 after purchasing an additional 2,217,531 shares during the period. B. Riley Wealth Advisors Inc. bought a new position in AST SpaceMobile in the second quarter worth approximately $278,000. Marshall Wace LLP lifted its holdings in AST SpaceMobile by 150.4% during the second quarter. Marshall Wace LLP now owns 126,685 shares of the company’s stock worth $1,471,000 after buying an additional 76,088 shares during the period. Key Colony Management LLC purchased a new stake in AST SpaceMobile during the third quarter worth $3,556,000. Finally, American International Group Inc. boosted its position in AST SpaceMobile by 41.5% during the 1st quarter. American International Group Inc. now owns 56,527 shares of the company’s stock valued at $164,000 after acquiring an additional 16,568 shares in the last quarter. Hedge funds and other institutional investors own 60.95% of the company’s stock.

AST SpaceMobile Company Profile

(Get Free Report)

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.

Read More

Receive News & Ratings for AST SpaceMobile Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AST SpaceMobile and related companies with MarketBeat.com's FREE daily email newsletter.