AST SpaceMobile (NASDAQ:ASTS) Stock Price Down 4.5% – Should You Sell?

AST SpaceMobile, Inc. (NASDAQ:ASTS) was down 4.5% on Monday . The company traded as low as $26.81 and last traded at $26.86. Approximately 3,180,193 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 10,526,492 shares. The stock had previously closed at $28.14.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Scotiabank lifted their price objective on AST SpaceMobile from $28.00 to $45.90 and gave the company a “sector outperform” rating in a research report on Monday, August 26th. B. Riley increased their price objective on AST SpaceMobile from $26.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. UBS Group boosted their target price on shares of AST SpaceMobile from $13.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of 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 Down 3.1 %

The company has a debt-to-equity ratio of 0.83, a quick ratio of 6.38 and a current ratio of 6.38. The business’s 50 day moving average is $27.56 and its 200-day moving average is $15.30. The firm has a market capitalization of $7.02 billion, a price-to-earnings ratio of -26.98 and a beta of 1.62.

AST SpaceMobile (NASDAQ:ASTS) last released its earnings results 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 analyst estimates of $2.00 million. Equities analysts anticipate that AST SpaceMobile, Inc. will post -0.88 EPS for the current fiscal year.

Insider Activity at AST SpaceMobile

In related news, Director Adriana Cisneros purchased 4,934 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were bought at an average cost of $26.32 per share, for a total transaction of $129,862.88. Following the transaction, the director now directly owns 774,772 shares of the company’s stock, valued at approximately $20,391,999.04. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other AST SpaceMobile news, President Scott Wisniewski sold 2,700 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $23.12, for a total value of $62,424.00. Following the completion of the sale, the president now owns 712,660 shares in the company, valued at approximately $16,476,699.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Adriana Cisneros acquired 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 of the company’s stock, 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. Insiders sold a total of 127,700 shares of company stock worth $3,220,524 in the last ninety days. 56.56% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AST SpaceMobile

A number of institutional investors have recently bought and sold shares of ASTS. BNP Paribas acquired a new position in shares of AST SpaceMobile in the 1st quarter valued at $43,000. Principal Financial Group Inc. bought a new position in AST SpaceMobile during the first quarter worth about $45,000. Black Maple Capital Management LP bought a new stake in shares of AST SpaceMobile in the 1st quarter valued at approximately $87,000. Future Financial Wealth Managment LLC bought a new stake in shares of AST SpaceMobile in the 3rd quarter valued at approximately $105,000. Finally, Calton & Associates Inc. bought a new position in shares of AST SpaceMobile during the 2nd quarter worth approximately $128,000. 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.