AST SpaceMobile (NASDAQ:ASTS) Stock Price Down 3.7% - Should You Sell?

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) shares dropped 3.7% during trading on Thursday . The stock traded as low as $26.85 and last traded at $26.85. Approximately 6,401,156 shares were traded during mid-day trading, a decline of 40% from the average daily volume of 10,594,812 shares. The stock had previously closed at $27.89.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ASTS. Scotiabank raised their price objective on AST SpaceMobile from $28.00 to $45.90 and gave the company a "sector outperform" rating in a report on Monday, August 26th. 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 report on Wednesday, September 4th. UBS Group lifted their price target on shares of AST SpaceMobile from $13.00 to $30.00 and gave the company a "buy" rating in a research report on Thursday, August 15th. Finally, B. Riley boosted their price target on AST SpaceMobile from $26.00 to $36.00 and gave the company a "buy" rating in a report on Thursday, August 29th.

AST SpaceMobile Stock Down 3.5 %

The company has a quick ratio of 6.38, a current ratio of 6.38 and a debt-to-equity ratio of 0.83. The firm has a market cap of $7.25 billion, a price-to-earnings ratio of -21.48 and a beta of 1.64. The stock's 50 day moving average is $25.70 and its 200 day moving average is $18.08.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last posted 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 company had revenue of $0.90 million for the quarter, compared to analyst estimates of $2.00 million. Analysts forecast that AST SpaceMobile, Inc. will post -0.88 EPS for the current year.

Insider Buying and Selling at AST SpaceMobile

In other AST SpaceMobile news, COO Shanti B. Gupta sold 80,000 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now owns 393,232 shares of the company's stock, valued at $10,157,182.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other AST SpaceMobile news, CTO Huiwen Yao sold 45,000 shares of AST SpaceMobile stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $24.26, for a total value of $1,091,700.00. Following the transaction, the chief technology officer now owns 55,000 shares of the company's stock, valued at approximately $1,334,300. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Shanti B. Gupta sold 80,000 shares of the firm's stock in a transaction on Monday, September 30th. The shares were sold at an average price of $25.83, for a total transaction of $2,066,400.00. Following the completion of the transaction, the chief operating officer now directly owns 393,232 shares of the company's stock, valued at approximately $10,157,182.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 127,700 shares of company stock worth $3,220,524 over the last ninety days. Company insiders own 41.80% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Verition Fund Management LLC bought a new stake in shares of AST SpaceMobile during the third quarter worth $1,107,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of AST SpaceMobile in the third quarter valued at $4,819,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in AST SpaceMobile during the third quarter worth $626,000. FORA Capital LLC purchased a new position in shares of AST SpaceMobile in the 3rd quarter worth approximately $4,215,000. Finally, MetLife Investment Management LLC grew its position in AST SpaceMobile by 12.4% during the third quarter. MetLife Investment Management LLC now owns 76,302 shares of the company's stock valued at $1,995,000 after buying an additional 8,441 shares during the period. Institutional investors 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.

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