AST SpaceMobile (NASDAQ:ASTS) Trading Down 4.7% - What's Next?

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) shares were down 4.7% during trading on Wednesday . The stock traded as low as $24.41 and last traded at $24.90. Approximately 2,335,800 shares were traded during trading, a decline of 78% from the average daily volume of 10,646,324 shares. The stock had previously closed at $26.14.

Analyst Ratings Changes

Several brokerages have commented on ASTS. Scotiabank cut their price target on shares of 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. UBS Group boosted their price target on AST SpaceMobile from $30.00 to $31.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. B. Riley increased their price objective on AST SpaceMobile from $26.00 to $36.00 and gave the company a "buy" rating in a report on Thursday, August 29th. Finally, 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.

AST SpaceMobile Price Performance

The business has a fifty day moving average of $25.63 and a two-hundred day moving average of $18.85. 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 market capitalization of $6.35 billion, a price-to-earnings ratio of -11.52 and a beta of 1.64.

Insider Activity

In other AST SpaceMobile news, COO Shanti B. Gupta sold 80,000 shares of AST SpaceMobile 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 completion of the transaction, the chief operating officer now directly owns 393,232 shares of the company's stock, valued at $10,157,182.56. The trade was a 16.91 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 trade represents a 0.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 127,700 shares of company stock valued at $3,220,524 over the last ninety days. 41.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AST SpaceMobile

Institutional investors have recently made changes to their positions in the stock. Janus Henderson Group PLC boosted its holdings in AST SpaceMobile by 209.9% in the first quarter. Janus Henderson Group PLC now owns 7,450,467 shares of the company's stock valued at $21,606,000 after acquiring an additional 5,046,667 shares during the last quarter. Vanguard Group Inc. increased its position in shares of AST SpaceMobile by 49.9% during the first quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company's stock worth $19,325,000 after buying an additional 2,217,531 shares during the period. Geode Capital Management LLC raised its stake in AST SpaceMobile by 9.4% during the third quarter. Geode Capital Management LLC now owns 3,267,066 shares of the company's stock worth $85,450,000 after buying an additional 281,749 shares during the last quarter. State Street Corp lifted its holdings in AST SpaceMobile by 14.8% in the third quarter. State Street Corp now owns 3,091,577 shares of the company's stock valued at $80,845,000 after buying an additional 399,713 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in AST SpaceMobile by 228.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,131,705 shares of the company's stock valued at $29,594,000 after acquiring an additional 787,566 shares during the last quarter. 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.

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.