AST SpaceMobile (NASDAQ:ASTS) Stock Price Down 0.2% – Here’s What Happened

AST SpaceMobile, Inc. (NASDAQ:ASTS) shares were down 0.2% during mid-day trading on Tuesday . The company traded as low as $24.43 and last traded at $24.70. Approximately 3,035,681 shares traded 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 Upgrades and Downgrades

A number of equities analysts have commented on ASTS shares. Deutsche Bank Aktiengesellschaft lifted their target price on shares of AST SpaceMobile from $22.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Scotiabank lifted their price target on shares of 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 research report on Thursday, August 29th. Finally, UBS Group lifted their target price on AST SpaceMobile from $13.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, August 15th.

AST SpaceMobile Stock Down 2.0 %

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 firm has a market capitalization of $6.54 billion, a PE ratio of -19.76 and a beta of 1.64. The business’s 50 day moving average price is $25.91 and its 200-day moving average price is $17.86.

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 firm had revenue of $0.90 million for the quarter, compared to analysts’ expectations of $2.00 million. As a group, equities research analysts forecast 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, Director Adriana Cisneros bought 4,934 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average cost of $26.32 per share, with a total value of $129,862.88. Following the purchase, the director now directly owns 774,772 shares in the company, valued at approximately $20,391,999.04. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, COO Shanti B. Gupta sold 80,000 shares of AST SpaceMobile stock in a transaction dated 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 transaction, the chief operating officer now owns 393,232 shares in the company, valued at approximately $10,157,182.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Adriana Cisneros bought 4,934 shares of the business’s stock in a transaction that occurred on 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 purchase, 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 disclosure for this purchase can be found here. Insiders sold a total of 127,700 shares of company stock valued at $3,220,524 in the last three months. 41.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ASTS. Janus Henderson Group PLC boosted its position in shares of AST SpaceMobile by 209.9% during the 1st quarter. Janus Henderson Group PLC now owns 7,450,467 shares of the company’s stock worth $21,606,000 after acquiring an additional 5,046,667 shares in the last quarter. Vanguard Group Inc. boosted its holdings in AST SpaceMobile by 49.9% in the first quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company’s stock valued at $19,325,000 after purchasing an additional 2,217,531 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in AST SpaceMobile by 228.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,131,705 shares of the company’s stock valued at $29,594,000 after purchasing an additional 787,566 shares during the last quarter. Masters Capital Management LLC acquired a new stake in AST SpaceMobile during the first quarter worth approximately $2,900,000. Finally, Oppenheimer & Co. Inc. lifted its position in shares of AST SpaceMobile by 6.0% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 846,072 shares of the company’s stock worth $22,125,000 after buying an additional 47,600 shares during the last quarter. Institutional investors and hedge funds own 60.95% of the company’s stock.

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.