AST SpaceMobile (NASDAQ:ASTS) Shares Down 0.2% – Here’s Why

AST SpaceMobile, Inc. (NASDAQ:ASTS) was down 0.2% on Tuesday . The stock traded as low as $24.43 and last traded at $24.70. Approximately 3,035,681 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 10,522,141 shares. The stock had previously closed at $24.76.

Analyst Ratings Changes

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

AST SpaceMobile Price Performance

The company has a quick ratio of 6.38, a current ratio of 6.38 and a debt-to-equity ratio of 0.83. The firm has a market cap of $7.22 billion, a price-to-earnings ratio of -21.48 and a beta of 1.64. The stock’s 50-day moving average price is $25.70 and its 200 day moving average price is $18.08.

AST SpaceMobile (NASDAQ:ASTS) last announced its quarterly earnings data on Wednesday, August 14th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.05. The business had revenue of $0.90 million during the quarter, compared to the consensus estimate of $2.00 million. Equities research analysts predict that AST SpaceMobile, Inc. will post -0.88 earnings per share for the current year.

Insider Buying and Selling at AST SpaceMobile

In other AST SpaceMobile news, COO Shanti B. Gupta sold 80,000 shares of AST SpaceMobile 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 sale, the chief operating officer now directly owns 393,232 shares in the company, valued at approximately $10,157,182.56. The trade was a 16.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Adriana Cisneros acquired 4,934 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were purchased at an average price of $26.32 per share, with a total value of $129,862.88. Following the acquisition, the director now owns 774,772 shares of the company’s stock, 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. In the last three months, insiders have sold 127,700 shares of company stock worth $3,220,524. Insiders own 41.80% of the company’s stock.

Institutional Trading of AST SpaceMobile

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Fairfield Financial Advisors LTD bought a new position in shares of AST SpaceMobile in the 3rd quarter worth approximately $26,000. Hollencrest Capital Management bought a new stake in shares of AST SpaceMobile in the 3rd quarter worth $26,000. Rakuten Securities Inc. purchased a new position in shares of AST SpaceMobile in the 3rd quarter worth $68,000. Black Maple Capital Management LP purchased a new position in shares of AST SpaceMobile in the 1st quarter worth $87,000. Finally, KBC Group NV purchased a new position in shares of AST SpaceMobile in the 3rd quarter worth $104,000. 60.95% of the stock is currently owned by institutional investors.

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.