AST SpaceMobile (NASDAQ:ASTS) Stock Price Down 0.3% – What’s Next?

AST SpaceMobile, Inc. (NASDAQ:ASTS) shares traded down 0.3% during trading on Tuesday . The stock traded as low as $22.92 and last traded at $23.14. 2,104,153 shares traded hands during trading, a decline of 80% from the average session volume of 10,554,967 shares. The stock had previously closed at $23.22.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. UBS Group raised their target price on shares of AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Deutsche Bank Aktiengesellschaft raised their price objective 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 upped their target price on shares of AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, Scotiabank lowered their price target on AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating on the stock in a report on Friday, November 15th.

AST SpaceMobile Trading Down 0.9 %

The firm has a market cap of $6.66 billion, a PE ratio of -10.92 and a beta of 1.60. The company’s fifty day moving average price is $24.91 and its two-hundred day moving average price is $20.06. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31.

Insider Activity

In related news, COO Shanti B. Gupta sold 80,000 shares of the business’s stock in a transaction dated 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 sale, the chief operating officer now directly owns 393,232 shares in the company, valued at $10,157,182.56. The trade was a 16.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Adriana Cisneros acquired 4,934 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were acquired at an average cost of $26.32 per share, with a total value of $129,862.88. Following the completion of the purchase, the director now owns 774,772 shares in the company, valued at approximately $20,391,999.04. This represents a 0.64 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 127,700 shares of company stock valued at $3,220,524 in the last three months. 41.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ASTS. Amalgamated Bank increased its stake in AST SpaceMobile by 17.4% in the third quarter. Amalgamated Bank now owns 4,578 shares of the company’s stock valued at $120,000 after purchasing an additional 679 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of AST SpaceMobile by 5.5% during the 2nd quarter. Victory Capital Management Inc. now owns 15,542 shares of the company’s stock valued at $180,000 after acquiring an additional 814 shares during the last quarter. Fairfield Financial Advisors LTD purchased a new position in shares of AST SpaceMobile during the 3rd quarter worth about $26,000. Hollencrest Capital Management purchased a new stake in AST SpaceMobile in the third quarter valued at approximately $26,000. Finally, Calton & Associates Inc. increased its position in AST SpaceMobile by 14.5% during the third quarter. Calton & Associates Inc. now owns 12,600 shares of the company’s stock worth $329,000 after purchasing an additional 1,600 shares during the last quarter. 60.95% of the stock is currently owned by institutional investors and hedge funds.

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.