AST SpaceMobile (NASDAQ:ASTS) Stock Price Down 15.2% – What’s Next?

AST SpaceMobile, Inc. (NASDAQ:ASTS) was down 15.2% during trading on Thursday. The stock traded as low as $28.98 and last traded at $30.20. Approximately 32,955,151 shares traded hands during trading, an increase of 98% from the average daily volume of 16,667,891 shares. The stock had previously closed at $35.62.

More AST SpaceMobile News

Here are the key news stories impacting AST SpaceMobile this week:

• Positive Sentiment: AST SpaceMobile said it will support prime contractor STR on a U.S. Space Force contract advancing space-based sensing technology. The work adds a government application for its satellite capabilities, although the announcement describes another phase of technology development rather than a disclosed large revenue award. Article: AST SpaceMobile Awarded U.S. Space Force Contract
• Positive Sentiment: Recent operational progress includes a successful AT&T test of switching between cellular towers and satellites, while Chile granted AST’s local unit a 30-year concession to operate mobile satellite services. These developments support the company’s network rollout and international expansion prospects. Article: AT&T Handoff Test Article: Chile Clears Nationwide Satellite Service
• Negative Sentiment: ASTS is also falling alongside other space stocks. One report linked the sector’s weakness to political developments in Texas that could affect Elon Musk’s data-center plans; this appears to be broader sector pressure rather than a company-specific announcement. Article: Space Stocks Fall Amid Texas Election Fallout
• Negative Sentiment: Several law firms are publicizing a securities class action against AST SpaceMobile and certain officers, with a November 13 lead-plaintiff deadline. The complaint alleges misleading statements about the company’s capital position and competitive standing, including user adoption; these remain allegations, not proven findings. The repeated law-firm notices may add to investor concern and uncertainty. Article: ASTS Shareholder Alert

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. UBS Group began coverage on shares of AST SpaceMobile in a report on Wednesday, September 2nd. They issued a “buy” rating on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of AST SpaceMobile in a research report on Monday, September 21st. Scotiabank raised shares of AST SpaceMobile from a “sector perform” rating to a “sector outperform” rating and upped their price target for the company from $50.80 to $55.70 in a report on Friday, October 23rd. Royal Bank Of Canada downgraded AST SpaceMobile to a “sector perform” rating in a research report on Friday, October 2nd. Finally, Piper Sandler downgraded AST SpaceMobile from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $98.00 to $54.00 in a research report on Tuesday, October 13th. Six research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, AST SpaceMobile presently has an average rating of “Hold” and a consensus price target of $80.67.

AST SpaceMobile Price Performance

The stock has a market capitalization of $11.75 billion, a PE ratio of -14.11 and a beta of 2.88. The company has a debt-to-equity ratio of 1.24, a current ratio of 13.05 and a quick ratio of 12.90. The stock’s fifty day moving average is $53.34 and its 200-day moving average is $76.84.

AST SpaceMobile (NASDAQ:ASTS) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.77) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.45). The firm had revenue of $31.52 million during the quarter, compared to analysts’ expectations of $34.53 million. AST SpaceMobile had a negative net margin of 536.66% and a negative return on equity of 22.88%. During the same period in the previous year, the firm posted ($0.41) EPS. As a group, equities analysts predict that AST SpaceMobile, Inc. will post -1.91 earnings per share for the current fiscal year.

Insider Activity

In other AST SpaceMobile news, CTO Huiwen Yao sold 40,000 shares of the stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $58.93, for a total transaction of $2,357,200.00. Following the transaction, the chief technology officer owned 34,750 shares in the company, valued at approximately $2,047,817.50. This represents a 53.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Shanti B. Gupta sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $58.89, for a total value of $706,680.00. Following the completion of the sale, the chief operating officer directly owned 462,980 shares in the company, valued at approximately $27,264,892.20. The trade was a 2.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 20.89% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ASTS. United Capital Management of KS Inc. grew its stake in AST SpaceMobile by 4.7% in the 3rd quarter. United Capital Management of KS Inc. now owns 209,393 shares of the company’s stock valued at $12,325,000 after acquiring an additional 9,475 shares during the period. AlphaCore Capital LLC increased its holdings in AST SpaceMobile by 320.7% in the 3rd quarter. AlphaCore Capital LLC now owns 15,435 shares of the company’s stock worth $909,000 after acquiring an additional 11,766 shares in the last quarter. Palacios Wealth Management LLC raised its position in AST SpaceMobile by 22.8% during the third quarter. Palacios Wealth Management LLC now owns 15,652 shares of the company’s stock worth $921,000 after acquiring an additional 2,903 shares during the period. Fulcrum Asset Management LLP acquired a new position in AST SpaceMobile during the third quarter worth $104,000. Finally, 5th Street Advisors LLC raised its position in AST SpaceMobile by 8.5% during the third quarter. 5th Street Advisors LLC now owns 3,560 shares of the company’s stock worth $210,000 after acquiring an additional 280 shares during the period. 60.95% of the stock is owned by institutional investors and hedge funds.

AST SpaceMobile Company Profile

AST SpaceMobile, Inc is a space-based communications company developing a global cellular broadband network designed to connect directly with standard, unmodified mobile phones. Its technology is intended to extend wireless coverage beyond traditional terrestrial networks, including in rural, remote and underserved areas.

The company is building and deploying a constellation of large low Earth orbit satellites, known as the BlueBird satellite system. AST SpaceMobile plans to provide voice, messaging, data and broadband services through partnerships with mobile network operators, allowing subscribers to remain connected outside the reach of conventional cellular towers.

Founded in 2017 and headquartered in Midland, Texas, AST SpaceMobile was established by Abel Avellan, who serves as its chairman and chief executive officer.