AST SpaceMobile (NASDAQ:ASTS) Stock Price Down 2.4% – Time to Sell?

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s share price dropped 2.4% during trading on Friday . The stock traded as low as $111.25 and last traded at $113.57. Approximately 11,491,312 shares traded hands during trading, a decline of 39% from the average daily volume of 18,986,977 shares. The stock had previously closed at $116.37.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ASTS shares. B. Riley cut shares of AST SpaceMobile from a “buy” rating to a “neutral” rating in a report on Tuesday, January 13th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of AST SpaceMobile in a research report on Tuesday. Zacks Research downgraded AST SpaceMobile from a “hold” rating to a “strong sell” rating in a research note on Friday, January 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AST SpaceMobile in a research note on Monday, December 29th. Finally, Scotiabank downgraded AST SpaceMobile from a “sector perform” rating to a “sector underperform” rating and set a $45.60 price objective for the company. in a research note on Wednesday, January 7th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $45.66.

AST SpaceMobile Stock Performance

The company has a debt-to-equity ratio of 0.43, a quick ratio of 9.48 and a current ratio of 9.56. The company has a market capitalization of $41.68 billion, a P/E ratio of -91.59 and a beta of 2.70. The business’s fifty day simple moving average is $76.93 and its 200-day simple moving average is $64.35.

AST SpaceMobile (NASDAQ:ASTS) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.27). AST SpaceMobile had a negative net margin of 1,639.59% and a negative return on equity of 27.76%. The firm had revenue of $14.74 million for the quarter, compared to analysts’ expectations of $22.04 million. During the same quarter in the prior year, the business earned ($1.10) EPS. The business’s quarterly revenue was up 1236.4% compared to the same quarter last year. As a group, equities analysts anticipate that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current fiscal year.

Insider Transactions at AST SpaceMobile

In related news, COO Shanti B. Gupta sold 10,000 shares of the business’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $77.34, for a total value of $773,400.00. Following the sale, the chief operating officer owned 382,375 shares in the company, valued at approximately $29,572,882.50. The trade was a 2.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Andrew Martin Johnson sold 10,000 shares of the stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $56.00, for a total transaction of $560,000.00. Following the transaction, the chief financial officer owned 387,485 shares of the company’s stock, valued at $21,699,160. This trade represents a 2.52% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders bought 2,765 shares of company stock valued at $187,236 and sold 2,354,621 shares valued at $164,348,075. 30.90% of the stock is owned by company insiders.

Institutional Trading of AST SpaceMobile

Hedge funds and other institutional investors have recently bought and sold shares of the stock. ORG Partners LLC raised its holdings in shares of AST SpaceMobile by 4.2% in the fourth quarter. ORG Partners LLC now owns 3,283 shares of the company’s stock valued at $238,000 after acquiring an additional 133 shares in the last quarter. Atlantic Union Bankshares Corp grew its holdings in AST SpaceMobile by 30.0% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 781 shares of the company’s stock worth $38,000 after acquiring an additional 180 shares in the last quarter. Sunbelt Securities Inc. increased its position in AST SpaceMobile by 22.9% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,003 shares of the company’s stock valued at $49,000 after purchasing an additional 187 shares during the period. GAMMA Investing LLC raised its holdings in shares of AST SpaceMobile by 21.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,355 shares of the company’s stock valued at $67,000 after purchasing an additional 243 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of AST SpaceMobile by 3.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 6,586 shares of the company’s stock worth $323,000 after purchasing an additional 245 shares during the period. Hedge funds and other institutional investors own 60.95% of the company’s stock.

AST SpaceMobile Company Profile

AST SpaceMobile is a U.S.-based aerospace company developing a space-based cellular broadband network designed to connect standard mobile phones and other devices directly to satellites. The company’s core proposition is “space-to-cell” service: operating a constellation of low-Earth-orbit (LEO) satellites equipped with large, high-power phased-array antennas to provide wide-area mobile broadband without requiring users to buy specialized terminals or handset modifications.

AST SpaceMobile designs, builds and operates satellite payloads and supporting ground infrastructure.