AST SpaceMobile (NASDAQ:ASTS) Trading Down 2.3% – Should You Sell?

AST SpaceMobile, Inc. (NASDAQ:ASTS) traded down 2.3% on Monday . The stock traded as low as $22.12 and last traded at $22.35. 1,687,615 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 10,388,954 shares. The stock had previously closed at $22.88.

Analysts Set New Price Targets

A number of analysts have weighed in on ASTS shares. UBS Group increased their target price on AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. B. Riley raised their target price 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. Scotiabank lowered their price target on shares of AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating for the company in a research report on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft increased 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 Price Performance

The company has a market cap of $6.81 billion, a PE ratio of -11.08 and a beta of 1.60. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31. The firm has a 50 day simple moving average of $24.60 and a 200-day simple moving average of $22.11.

Insider Buying and Selling

In other AST SpaceMobile news, COO Shanti B. Gupta sold 80,000 shares of the 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 sale, the chief operating officer now directly owns 393,232 shares in the company, valued at approximately $10,157,182.56. This trade represents a 16.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Scott Wisniewski sold 2,700 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $23.12, for a total transaction of $62,424.00. Following the transaction, the president now owns 712,660 shares in the company, valued at approximately $16,476,699.20. This trade represents a 0.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 127,700 shares of company stock worth $3,220,524 in the last 90 days. 41.80% of the stock is owned by corporate insiders.

Institutional Trading of AST SpaceMobile

Institutional investors have recently bought and sold shares of the stock. Privium Fund Management B.V. purchased a new position in shares of AST SpaceMobile in the third quarter worth $21,476,000. Oppenheimer & Co. Inc. purchased a new position in AST SpaceMobile in the 2nd quarter worth $9,270,000. Charles Schwab Investment Management Inc. raised its stake in AST SpaceMobile by 228.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,131,705 shares of the company’s stock worth $29,594,000 after acquiring an additional 787,566 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of AST SpaceMobile during the second quarter worth about $4,757,000. Finally, State Street Corp lifted its stake in AST SpaceMobile by 14.8% during the 3rd quarter. State Street Corp now owns 3,091,577 shares of the company’s stock valued at $80,845,000 after acquiring an additional 399,713 shares during the period. 60.95% of the stock is currently owned by institutional investors and hedge funds.

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.