AST SpaceMobile (NASDAQ:ASTS) Stock Price Down 2.7% – Should You Sell?

by · The Markets Daily

AST SpaceMobile, Inc. (NASDAQ:ASTS – Get Free Report)’s share price fell 2.7% during mid-day trading on Wednesday . The company traded as low as $22.71 and last traded at $23.49. 3,711,555 shares changed hands during trading, a decline of 65% from the average session volume of 10,485,623 shares. The stock had previously closed at $24.13.

Wall Street Analyst Weigh In

ASTS has been the subject of several analyst reports. UBS Group lifted their price target on shares of AST SpaceMobile from $13.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Scotiabank upped their target price on shares of AST SpaceMobile from $28.00 to $45.90 and gave the company a “sector outperform” rating in a research report on Monday, August 26th. B. Riley raised their price target on AST SpaceMobile from $26.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on AST SpaceMobile from $22.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th.

Get Our Latest Stock Report on AST SpaceMobile

AST SpaceMobile Stock Down 6.7 %

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’s fifty day moving average is $26.39 and its 200-day moving average is $17.28.

AST SpaceMobile (NASDAQ:ASTS – Get Free Report) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.05. The firm had revenue of $0.90 million during the quarter, compared to analyst estimates of $2.00 million. As a group, equities research analysts predict that AST SpaceMobile, Inc. will post -0.88 earnings per share for the current year.

Insider Transactions at AST SpaceMobile

In related news, COO Shanti B. Gupta sold 80,000 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $25.83, for a total value of $2,066,400.00. Following the completion of the transaction, the chief operating officer now directly owns 393,232 shares in the company, valued at approximately $10,157,182.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, COO Shanti B. Gupta sold 80,000 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $25.83, for a total value of $2,066,400.00. Following the completion of the transaction, the chief operating officer now directly owns 393,232 shares of the company’s stock, valued at approximately $10,157,182.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Huiwen Yao sold 45,000 shares of the stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $24.26, for a total value of $1,091,700.00. Following the transaction, the chief technology officer now owns 55,000 shares of the company’s stock, valued at approximately $1,334,300. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 127,700 shares of company stock valued at $3,220,524 over the last 90 days. 41.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On AST SpaceMobile

Institutional investors have recently bought and sold shares of the company. Janus Henderson Group PLC boosted 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 buying an additional 5,046,667 shares during the last quarter. Vanguard Group Inc. boosted its position in AST SpaceMobile by 49.9% during the first 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 last quarter. Masters Capital Management LLC acquired a new position in AST SpaceMobile during the first quarter valued at approximately $2,900,000. Oppenheimer & Co. Inc. grew its stake in AST SpaceMobile by 6.0% in the third quarter. Oppenheimer & Co. Inc. now owns 846,072 shares of the company’s stock valued at $22,125,000 after purchasing an additional 47,600 shares in the last quarter. Finally, Privium Fund Management B.V. acquired a new position in shares of AST SpaceMobile during the 3rd quarter worth approximately $21,476,000. 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.

Featured Stories