AST SpaceMobile (NASDAQ:ASTS) Shares Down 1.5% – What’s Next?

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s share price was down 1.5% on Tuesday . The stock traded as low as $67.10 and last traded at $70.05. Approximately 8,320,391 shares were traded during mid-day trading, a decline of 32% from the average daily volume of 12,223,836 shares. The stock had previously closed at $71.14.

Analyst Upgrades and Downgrades

Several analysts have weighed in on ASTS shares. Roth Capital reissued a “buy” rating on shares of AST SpaceMobile in a research note on Tuesday, August 12th. Scotiabank cut shares of AST SpaceMobile from a “sector perform” rating to a “sector underperform” rating and set a $42.90 price objective on the stock. in a research report on Tuesday, October 7th. William Blair began coverage on shares of AST SpaceMobile in a research report on Thursday, August 21st. They issued a “market perform” rating on the stock. UBS Group cut shares of AST SpaceMobile from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $62.00 to $43.00 in a research report on Tuesday, September 9th. Finally, Barclays cut shares of AST SpaceMobile from an “overweight” rating to an “underweight” rating and set a $60.00 price objective on the stock. in a research report on Friday, October 17th. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $45.27.

AST SpaceMobile Price Performance

The company has a quick ratio of 8.23, a current ratio of 8.23 and a debt-to-equity ratio of 0.42. The firm’s 50-day moving average is $61.31 and its 200-day moving average is $46.92. The company has a market cap of $25.11 billion, a PE ratio of -37.06 and a beta of 2.45.

AST SpaceMobile (NASDAQ:ASTS) last announced its quarterly earnings data on Monday, August 11th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.22). The business had revenue of $1.16 million during the quarter, compared to analysts’ expectations of $6.37 million. AST SpaceMobile had a negative return on equity of 26.81% and a negative net margin of 7,213.90%. On average, equities analysts anticipate that AST SpaceMobile, Inc. will post -0.4 EPS for the current year.

Insider Transactions at AST SpaceMobile

In other AST SpaceMobile news, CTO Huiwen Yao sold 40,000 shares of the company’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $40.58, for a total value of $1,623,200.00. Following the sale, the chief technology officer owned 4,750 shares in the company, valued at approximately $192,755. This represents a 89.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Andrew Martin Johnson sold 20,000 shares of the company’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $52.48, for a total transaction of $1,049,600.00. Following the completion of the sale, the chief financial officer owned 397,485 shares in the company, valued at approximately $20,860,012.80. This trade represents a 4.79% decrease in their position. The SEC filing for this sale provides additional information. 30.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Atlantic Union Bankshares Corp bought a new position in shares of AST SpaceMobile in the second quarter worth approximately $28,000. Geneos Wealth Management Inc. lifted its stake in shares of AST SpaceMobile by 225.0% in the third quarter. Geneos Wealth Management Inc. now owns 650 shares of the company’s stock worth $32,000 after buying an additional 450 shares in the last quarter. Binnacle Investments Inc bought a new position in shares of AST SpaceMobile in the second quarter worth approximately $33,000. GAMMA Investing LLC lifted its stake in shares of AST SpaceMobile by 388.7% in the first quarter. GAMMA Investing LLC now owns 1,559 shares of the company’s stock worth $35,000 after buying an additional 1,240 shares in the last quarter. Finally, Chapman Financial Group LLC bought a new position in shares of AST SpaceMobile in the second quarter worth approximately $38,000. Institutional investors 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.