AST SpaceMobile (NASDAQ:ASTS) Trading Down 3.3% - Should You Sell?

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report)'s share price traded down 3.3% on Thursday . The company traded as low as $21.62 and last traded at $21.90. 3,444,109 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 10,517,370 shares. The stock had previously closed at $22.64.

Wall Street Analyst Weigh In

ASTS has been the subject of several recent research reports. B. Riley lifted their price target on AST SpaceMobile from $26.00 to $36.00 and gave the stock a "buy" rating in a research report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft lifted their price objective 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. Scotiabank cut their target price on 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. Finally, UBS Group raised their price target on AST SpaceMobile from $30.00 to $31.00 and gave the stock a "buy" rating in a research note on Friday, November 15th.

AST SpaceMobile Price Performance

The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80. The firm has a fifty day simple moving average of $24.74 and a 200 day simple moving average of $20.34. The company has a market capitalization of $6.67 billion, a PE ratio of -10.33 and a beta of 1.60.

Insider Activity at AST SpaceMobile

In other AST SpaceMobile news, President Scott Wisniewski sold 2,700 shares of AST SpaceMobile stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $23.12, for a total value of $62,424.00. Following the transaction, the president now owns 712,660 shares in the company, valued at $16,476,699.20. The trade was a 0.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Shanti B. Gupta sold 80,000 shares of the stock in a transaction dated 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 sale, the chief operating officer now directly 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 sold 127,700 shares of company stock worth $3,220,524 over the last three months. 41.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AST SpaceMobile

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of AST SpaceMobile by 49.9% during 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 last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in AST SpaceMobile in the second quarter valued at about $278,000. Van ECK Associates Corp boosted its holdings in AST SpaceMobile by 141.1% in the third quarter. Van ECK Associates Corp now owns 103,437 shares of the company's stock worth $2,716,000 after acquiring an additional 60,530 shares in the last quarter. Algert Global LLC purchased a new stake in shares of AST SpaceMobile during the third quarter worth about $768,000. Finally, Americana Partners LLC acquired a new position in shares of AST SpaceMobile during the third quarter valued at about $673,000. Hedge funds and other 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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