AST SpaceMobile (NASDAQ:ASTS) Stock Price Down 6% – Should You Sell?

AST SpaceMobile, Inc. (NASDAQ:ASTS) shares traded down 6% on Monday . The company traded as low as $104.06 and last traded at $104.55. 12,827,556 shares were traded during trading, a decline of 27% from the average session volume of 17,656,824 shares. The stock had previously closed at $111.21.

Analyst Upgrades and Downgrades

A number of research firms have commented on ASTS. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of AST SpaceMobile in a report on Tuesday, January 20th. Barclays downgraded AST SpaceMobile from an “overweight” rating to an “underweight” rating and set a $60.00 target price on the stock. in a research note on Friday, October 17th. Scotiabank downgraded AST SpaceMobile from a “sector perform” rating to a “sector underperform” rating and set a $45.60 price target for the company. in a research note on Wednesday, January 7th. Zacks Research lowered shares of AST SpaceMobile from a “hold” rating to a “strong sell” rating in a report on Friday, January 9th. Finally, B. Riley downgraded shares of AST SpaceMobile from a “buy” rating to a “neutral” rating in a report on Tuesday, January 13th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $45.66.

AST SpaceMobile Price Performance

The stock’s 50-day simple moving average is $83.89 and its two-hundred day simple moving average is $67.44. The firm has a market cap of $38.37 billion, a P/E ratio of -84.31 and a beta of 2.70. The company has a debt-to-equity ratio of 0.43, a current ratio of 9.56 and a quick ratio of 9.48.

AST SpaceMobile (NASDAQ:ASTS) last issued 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). The business had revenue of $14.74 million during the quarter, compared to analysts’ expectations of $22.04 million. AST SpaceMobile had a negative return on equity of 27.76% and a negative net margin of 1,639.59%.The company’s quarterly revenue was up 1236.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.10) earnings per share. Equities research analysts forecast that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current fiscal year.

Insider Activity at AST SpaceMobile

In other news, CAO Maya Bernal sold 6,000 shares of AST SpaceMobile stock in a transaction on Friday, December 5th. The stock was sold at an average price of $73.76, for a total value of $442,560.00. Following the transaction, the chief accounting officer directly owned 122,486 shares in the company, valued at approximately $9,034,567.36. This trade represents a 4.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Shanti B. Gupta sold 10,000 shares of the firm’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $77.34, for a total value of $773,400.00. Following the completion of the sale, the chief operating officer directly owned 382,375 shares of the company’s stock, valued at $29,572,882.50. The trade was a 2.55% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, 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 corporate insiders.

Hedge Funds Weigh In On AST SpaceMobile

Several hedge funds and other institutional investors have recently bought and sold shares of the business. REAP Financial Group LLC acquired a new stake in shares of AST SpaceMobile during the 3rd quarter worth approximately $25,000. Crewe Advisors LLC acquired a new position in shares of AST SpaceMobile in the 4th quarter valued at $25,000. Laurel Wealth Advisors LLC purchased a new stake in AST SpaceMobile during the fourth quarter worth $25,000. Atlantic Union Bankshares Corp acquired a new stake in AST SpaceMobile during the second quarter valued at $28,000. Finally, Byrne Asset Management LLC acquired a new stake in AST SpaceMobile during the fourth quarter valued at $29,000. Institutional investors and hedge funds 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.