AST SpaceMobile (NASDAQ:ASTS) Stock Price Down 0.8% - What's Next?

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) shares fell 0.8% on Thursday . The company traded as low as $23.21 and last traded at $23.39. 2,010,467 shares were traded during trading, a decline of 81% from the average session volume of 10,638,985 shares. The stock had previously closed at $23.58.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ASTS shares. Deutsche Bank Aktiengesellschaft raised their price target 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. B. Riley raised their price target on shares of AST SpaceMobile from $26.00 to $36.00 and gave the company a "buy" rating in a report on Thursday, August 29th. Scotiabank cut their price objective on AST SpaceMobile from $45.90 to $44.70 and set a "sector outperform" rating on the stock in a research report on Friday, November 15th. Finally, UBS Group boosted their target price on shares of AST SpaceMobile from $30.00 to $31.00 and gave the stock a "buy" rating in a research report on Friday, November 15th.

AST SpaceMobile Stock Performance

The stock has a 50-day simple moving average of $25.54 and a 200-day simple moving average of $18.89. The company has a market capitalization of $6.39 billion, a price-to-earnings ratio of -11.03 and a beta of 1.64. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31.

Insider Buying and Selling at AST SpaceMobile

In related news, President Scott Wisniewski sold 2,700 shares of the company'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 transaction of $62,424.00. Following the sale, the president now directly owns 712,660 shares of the company's stock, valued at approximately $16,476,699.20. This represents a 0.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Shanti B. Gupta sold 80,000 shares of the company's stock in a transaction on 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 transaction, the chief operating officer now owns 393,232 shares of the company's stock, valued at approximately $10,157,182.56. The trade was a 16.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 127,700 shares of company stock valued at $3,220,524 in the last three months. Corporate insiders own 41.80% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Amalgamated Bank grew its stake in shares of AST SpaceMobile by 17.4% in the third quarter. Amalgamated Bank now owns 4,578 shares of the company's stock worth $120,000 after purchasing an additional 679 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of AST SpaceMobile by 5.5% in the second quarter. Victory Capital Management Inc. now owns 15,542 shares of the company's stock worth $180,000 after purchasing an additional 814 shares in the last quarter. Fairfield Financial Advisors LTD bought a new position in AST SpaceMobile during the third quarter valued at about $26,000. Hollencrest Capital Management bought a new position in AST SpaceMobile during the third quarter valued at about $26,000. Finally, Calton & Associates Inc. boosted its stake in AST SpaceMobile by 14.5% during the third quarter. Calton & Associates Inc. now owns 12,600 shares of the company's stock valued at $329,000 after buying an additional 1,600 shares in the last quarter. 60.95% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.