AST SpaceMobile (NASDAQ:ASTS) Stock Price Down 6.2% – Time to Sell?

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) traded down 6.2% during trading on Monday . The company traded as low as $71.85 and last traded at $73.82. 13,337,517 shares changed hands during trading, a decline of 10% from the average session volume of 14,893,202 shares. The stock had previously closed at $78.67.

Analysts Set New Price Targets

ASTS has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of AST SpaceMobile in a report on Tuesday, January 20th. Zacks Research raised AST SpaceMobile from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. B. Riley Financial lowered their price target on AST SpaceMobile from $105.00 to $95.00 and set a “neutral” rating on the stock in a report on Friday, February 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AST SpaceMobile in a report on Friday. Finally, Scotiabank downgraded AST SpaceMobile from a “sector perform” rating to a “sector underperform” rating and set a $45.60 target price on the stock. in a research report on Wednesday, January 7th. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $63.77.

AST SpaceMobile Price Performance

The company has a debt-to-equity ratio of 0.92, a quick ratio of 16.27 and a current ratio of 16.35. The stock has a market capitalization of $32.09 billion, a PE ratio of -63.63 and a beta of 2.77. The company’s fifty day simple moving average is $93.55 and its two-hundred day simple moving average is $79.51.

AST SpaceMobile (NASDAQ:ASTS) last announced its quarterly earnings results on Monday, March 2nd. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.08). AST SpaceMobile had a negative net margin of 482.16% and a negative return on equity of 23.02%. The business had revenue of $54.31 million during the quarter, compared to analysts’ expectations of $39.53 million. The firm’s revenue was up 2731.3% compared to the same quarter last year. As a group, sell-side analysts predict that AST SpaceMobile, Inc. will post -0.4 EPS for the current year.

Insider Transactions at AST SpaceMobile

In other AST SpaceMobile news, CTO Huiwen Yao sold 40,000 shares of the stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $88.88, for a total transaction of $3,555,200.00. Following the sale, the chief technology officer owned 4,750 shares in the company, valued at approximately $422,180. This represents a 89.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 30.90% of the company’s stock.

Institutional Trading of AST SpaceMobile

Several institutional investors and hedge funds have recently made changes to their positions in ASTS. Calton & Associates Inc. increased its position in AST SpaceMobile by 0.8% during the 4th quarter. Calton & Associates Inc. now owns 13,579 shares of the company’s stock worth $986,000 after purchasing an additional 104 shares in the last quarter. Investmark Advisory Group LLC lifted its holdings in AST SpaceMobile by 2.7% in the 4th quarter. Investmark Advisory Group LLC now owns 4,645 shares of the company’s stock valued at $337,000 after purchasing an additional 120 shares in the last quarter. ORG Partners LLC boosted its stake in shares of AST SpaceMobile by 4.2% during the 4th quarter. ORG Partners LLC now owns 3,283 shares of the company’s stock worth $238,000 after purchasing an additional 133 shares during the last quarter. Atlantic Union Bankshares Corp grew its holdings in shares of AST SpaceMobile by 18.2% during the fourth quarter. Atlantic Union Bankshares Corp now owns 923 shares of the company’s stock worth $67,000 after buying an additional 142 shares in the last quarter. Finally, Larson Financial Group LLC grew its holdings in shares of AST SpaceMobile by 39.0% during the fourth quarter. Larson Financial Group LLC now owns 513 shares of the company’s stock worth $37,000 after buying an additional 144 shares in the last quarter. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

About AST SpaceMobile

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.