AST SpaceMobile (NASDAQ:ASTS) Trading Down 3.4% - Should You Sell?

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) traded down 3.4% on Tuesday . The company traded as low as $25.04 and last traded at $25.11. 2,722,262 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 10,542,660 shares. The stock had previously closed at $25.99.

Analysts Set New Price Targets

A number of research firms recently commented on ASTS. Deutsche Bank Aktiengesellschaft boosted their target price on shares of AST SpaceMobile from $22.00 to $63.00 and gave the stock a "buy" rating in a report on Wednesday, September 4th. UBS Group increased their price objective on AST SpaceMobile from $30.00 to $31.00 and gave the company a "buy" rating in a research report on Friday, November 15th. Scotiabank reduced their price objective on AST SpaceMobile from $45.90 to $44.70 and set a "sector outperform" rating for the company in a research note on Friday, November 15th. Finally, B. Riley raised 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.

AST SpaceMobile Stock Down 4.3 %

The business has a fifty day moving average of $24.72 and a 200 day moving average of $20.87. The stock has a market cap of $7.21 billion, a price-to-earnings ratio of -11.84 and a beta of 1.60. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80.

Insider Buying and Selling

In other AST SpaceMobile news, COO Shanti B. Gupta sold 80,000 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $25.83, for a total transaction of $2,066,400.00. Following the transaction, the chief operating officer now owns 393,232 shares in the company, valued at $10,157,182.56. This trade represents a 16.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Scott Wisniewski sold 2,700 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were 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 approximately $16,476,699.20. This trade represents a 0.38 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 127,700 shares of company stock worth $3,220,524. Insiders own 41.80% of the company's stock.

Hedge Funds Weigh In On AST SpaceMobile

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fairfield Financial Advisors LTD acquired a new position in AST SpaceMobile during the third quarter valued at approximately $26,000. Hollencrest Capital Management acquired a new stake in shares of AST SpaceMobile in the third quarter worth $26,000. Rakuten Securities Inc. acquired a new stake in shares of AST SpaceMobile in the third quarter worth $68,000. Sunbelt Securities Inc. grew its stake in shares of AST SpaceMobile by 3,380.0% in the third quarter. Sunbelt Securities Inc. now owns 3,480 shares of the company's stock worth $91,000 after acquiring an additional 3,380 shares during the last quarter. Finally, KBC Group NV acquired a new stake in shares of AST SpaceMobile in the third quarter worth $104,000. Institutional investors and hedge funds 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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