AST SpaceMobile (NASDAQ:ASTS) Trading Down 0.8% – Should You Sell?

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) dropped 0.8% on Tuesday . The stock traded as low as $26.02 and last traded at $26.51. Approximately 1,783,010 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 10,580,923 shares. The stock had previously closed at $26.73.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ASTS. 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 report on Thursday, August 15th. B. Riley boosted their price target on AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Scotiabank raised their price objective on AST SpaceMobile from $28.00 to $45.90 and gave the stock a “sector outperform” rating in a report on Monday, August 26th. Finally, Deutsche Bank Aktiengesellschaft upped their target price 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 Stock Up 1.4 %

The firm has a 50-day moving average of $27.49 and a two-hundred day moving average of $16.33. 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 firm has a market capitalization of $7.30 billion, a PE ratio of -21.21 and a beta of 1.62.

AST SpaceMobile (NASDAQ:ASTS) last released its quarterly earnings results 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 for the quarter, compared to analyst estimates of $2.00 million. On average, equities research analysts forecast that AST SpaceMobile, Inc. will post -0.88 EPS for the current year.

Insider Activity

In related news, CTO Huiwen Yao sold 45,000 shares of the business’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 completion of the transaction, the chief technology officer now owns 55,000 shares in the company, valued at $1,334,300. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other 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 value of $1,091,700.00. Following the completion of the sale, the chief technology officer now directly 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Adriana Cisneros purchased 4,934 shares of the stock in a transaction dated Friday, September 6th. The shares were purchased at an average price 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 in the company, valued at $20,391,999.04. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders sold 127,700 shares of company stock valued at $3,220,524. Company insiders own 41.80% of the company’s stock.

Hedge Funds Weigh In On AST SpaceMobile

Hedge funds and other institutional investors have recently modified their holdings of the stock. Fairfield Financial Advisors LTD purchased a new position in shares of AST SpaceMobile in the third quarter worth approximately $26,000. Future Financial Wealth Managment LLC acquired a new stake in AST SpaceMobile during the 3rd quarter valued at $105,000. Capital Investment Advisors LLC purchased a new stake in shares of AST SpaceMobile in the third quarter valued at $216,000. Allworth Financial LP boosted its position in shares of AST SpaceMobile by 3,554.0% in the third quarter. Allworth Financial LP now owns 9,208 shares of the company’s stock worth $241,000 after buying an additional 8,956 shares during the period. Finally, Brookstone Capital Management purchased a new position in shares of AST SpaceMobile during the third quarter valued at $255,000. 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.