AST SpaceMobile (NASDAQ:ASTS) Shares Down 0.3% – Should You Sell?

AST SpaceMobile, Inc. (NASDAQ:ASTS) shares traded down 0.3% during trading on Friday . The company traded as low as $23.05 and last traded at $23.25. 1,386,769 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 10,472,276 shares. The stock had previously closed at $23.33.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ASTS. UBS Group lifted their price objective on AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, November 15th. B. Riley raised their price objective on shares of AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft upped their target price on shares of AST SpaceMobile from $22.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Finally, Scotiabank decreased 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 Price Performance

The firm has a market cap of $6.77 billion, a PE ratio of -10.97 and a beta of 1.60. The firm has a fifty day simple moving average of $24.72 and a two-hundred day simple moving average of $21.04. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80.

Insider Activity at AST SpaceMobile

In other AST SpaceMobile news, CTO Huiwen Yao sold 45,000 shares of AST SpaceMobile stock in a transaction 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 directly owns 55,000 shares of the company’s stock, valued at $1,334,300. The trade was a 45.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Shanti B. Gupta sold 80,000 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $25.83, for a total transaction of $2,066,400.00. Following the transaction, the chief operating officer now owns 393,232 shares in the company, valued at $10,157,182.56. This trade represents a 16.91 % 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 corporate insiders.

Hedge Funds Weigh In On AST SpaceMobile

Several hedge funds have recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. purchased a new stake in AST SpaceMobile during the second quarter worth $278,000. Van ECK Associates Corp raised its holdings in shares of AST SpaceMobile by 141.1% in the third quarter. Van ECK Associates Corp now owns 103,437 shares of the company’s stock worth $2,716,000 after buying an additional 60,530 shares during the last quarter. Algert Global LLC acquired a new stake in shares of AST SpaceMobile during the third quarter worth about $768,000. Americana Partners LLC acquired a new position in shares of AST SpaceMobile in the 3rd quarter valued at about $673,000. Finally, Oppenheimer & Co. Inc. lifted its holdings 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 acquiring an additional 47,600 shares during the period. 60.95% of the stock is currently owned by institutional investors.

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.