AST SpaceMobile (NASDAQ:ASTS) Shares Down 0.2% – Time to Sell?

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

Analysts Set New Price Targets

ASTS has been the topic of several analyst reports. B. Riley boosted their price objective on AST SpaceMobile from $26.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Scotiabank boosted their price target on AST SpaceMobile from $28.00 to $45.90 and gave the company a “sector outperform” rating in a report on Monday, August 26th. UBS Group upped their target price on AST SpaceMobile from $13.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft upped their price target 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 Trading Down 3.9 %

The stock has a market cap of $7.22 billion, a PE ratio of -21.48 and a beta of 1.64. 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 company’s 50-day moving average price is $25.70 and its 200 day moving average price is $18.08.

AST SpaceMobile (NASDAQ:ASTS) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.05. The company had revenue of $0.90 million for the quarter, compared to analysts’ expectations of $2.00 million. On average, sell-side analysts forecast that AST SpaceMobile, Inc. will post -0.88 EPS for the current fiscal year.

Insider Buying and Selling at AST SpaceMobile

In related news, Director Adriana Cisneros bought 4,934 shares of the company’s stock in a transaction on Friday, September 6th. The stock was bought at an average cost of $26.32 per share, with a total value of $129,862.88. Following the completion of the acquisition, the director now owns 774,772 shares in the company, valued at approximately $20,391,999.04. This represents a 0.64 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Scott Wisniewski sold 2,700 shares of the 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 completion of the transaction, the president now directly owns 712,660 shares of the company’s stock, valued at approximately $16,476,699.20. This trade represents a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 127,700 shares of company stock worth $3,220,524 over the last 90 days. Corporate insiders own 41.80% of the company’s stock.

Institutional Trading of AST SpaceMobile

Several large investors have recently modified their holdings of ASTS. Amalgamated Bank boosted its holdings in shares of AST SpaceMobile by 17.4% in the 3rd quarter. Amalgamated Bank now owns 4,578 shares of the company’s stock valued at $120,000 after purchasing an additional 679 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of AST SpaceMobile by 5.5% in the 2nd quarter. Victory Capital Management Inc. now owns 15,542 shares of the company’s stock valued at $180,000 after acquiring an additional 814 shares during the period. Fairfield Financial Advisors LTD purchased a new position in shares of AST SpaceMobile in the 3rd quarter valued at $26,000. Hollencrest Capital Management purchased a new position in shares of AST SpaceMobile in the 3rd quarter valued at $26,000. Finally, Calton & Associates Inc. raised its stake in shares of AST SpaceMobile by 14.5% in the 3rd quarter. Calton & Associates Inc. now owns 12,600 shares of the company’s stock valued at $329,000 after acquiring an additional 1,600 shares during the period. 60.95% of the stock is currently owned by institutional investors and hedge funds.

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.