AST SpaceMobile (NASDAQ:ASTS) Stock Price Down 1.1% - Time to Sell?

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) dropped 1.1% during trading on Friday . The stock traded as low as $23.37 and last traded at $23.87. Approximately 1,688,241 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 10,641,028 shares. The stock had previously closed at $24.14.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ASTS. B. Riley upped their price target on AST SpaceMobile from $26.00 to $36.00 and gave the company a "buy" rating in a research note on Thursday, August 29th. Scotiabank reduced their target price on shares of AST SpaceMobile from $45.90 to $44.70 and set a "sector outperform" rating on the stock in a research note on Friday, November 15th. UBS Group raised their price objective on shares of AST SpaceMobile from $30.00 to $31.00 and gave the company a "buy" rating in a research note on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of AST SpaceMobile from $22.00 to $63.00 and gave the company a "buy" rating in a research report on Wednesday, September 4th.

AST SpaceMobile Stock Down 0.5 %

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 fifty day simple moving average of $25.49 and a 200-day simple moving average of $18.92. The company has a market capitalization of $6.47 billion, a P/E ratio of -11.26 and a beta of 1.64.

Insider Buying and Selling at AST SpaceMobile

In other news, Director Adriana Cisneros bought 4,934 shares of the business's stock in a transaction 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 purchase, the director now owns 774,772 shares of the company's stock, valued at approximately $20,391,999.04. The trade was a 0.64 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Scott Wisniewski sold 2,700 shares of AST SpaceMobile stock in a transaction that occurred on 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 sale, the president now owns 712,660 shares in the company, valued at $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. Over the last quarter, insiders have sold 127,700 shares of company stock valued at $3,220,524. 41.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AST SpaceMobile

Several institutional investors and hedge funds have recently added to or reduced their stakes in ASTS. Janus Henderson Group PLC raised its holdings in shares of AST SpaceMobile by 209.9% in the 1st quarter. Janus Henderson Group PLC now owns 7,450,467 shares of the company's stock valued at $21,606,000 after purchasing an additional 5,046,667 shares during the period. Vanguard Group Inc. raised its holdings in shares of AST SpaceMobile by 49.9% in the 1st 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 during the period. Masters Capital Management LLC bought a new stake in shares of AST SpaceMobile in the 1st quarter valued at about $2,900,000. Privium Fund Management B.V. bought a new stake in shares of AST SpaceMobile in the 3rd quarter valued at about $21,476,000. Finally, Oppenheimer & Co. Inc. bought a new stake in shares of AST SpaceMobile in the 2nd quarter valued at about $9,270,000. 60.95% of the stock is 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.

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