AST SpaceMobile (NASDAQ:ASTS) Trading Down 1.3% – Should You Sell?

AST SpaceMobile, Inc. (NASDAQ:ASTS) shares fell 1.3% during trading on Thursday . The stock traded as low as $83.91 and last traded at $87.09. 9,863,398 shares changed hands during trading, a decline of 37% from the average session volume of 15,544,230 shares. The stock had previously closed at $88.21.

Analyst Ratings Changes

Several research firms recently issued reports on ASTS. B. Riley Financial cut their price objective on AST SpaceMobile from $105.00 to $95.00 and set a “neutral” rating on the stock in a report on Friday, February 13th. Scotiabank cut AST SpaceMobile from a “sector perform” rating to a “sector underperform” rating and set a $45.60 target price for the company. in a report on Wednesday, January 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of AST SpaceMobile in a research report on Tuesday, January 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of AST SpaceMobile in a research note on Monday, December 29th. Finally, UBS Group increased their price target on shares of AST SpaceMobile from $43.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 4th. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, AST SpaceMobile has a consensus rating of “Reduce” and a consensus target price of $63.77.

AST SpaceMobile Stock Down 0.9%

The business has a 50-day moving average price of $96.35 and a two-hundred day moving average price of $75.37. The company has a quick ratio of 16.27, a current ratio of 16.35 and a debt-to-equity ratio of 0.92. The firm has a market cap of $31.69 billion, a PE ratio of -65.41 and a beta of 2.77.

AST SpaceMobile (NASDAQ:ASTS) last released its earnings results on Monday, March 2nd. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $54.31 million during the quarter, compared to analysts’ expectations of $39.53 million. The company’s revenue was up 2731.3% compared to the same quarter last year. On average, equities research analysts expect that AST SpaceMobile, Inc. will post -0.4 EPS for the current year.

Insider Transactions at AST SpaceMobile

In related news, Director Keith R. Larson purchased 625 shares of AST SpaceMobile stock in a transaction on Wednesday, December 24th. The shares were bought at an average price of $80.00 per share, with a total value of $50,000.00. Following the transaction, the director directly owned 2,015 shares of the company’s stock, valued at approximately $161,200. This trade represents a 44.96% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 30.90% of the stock is owned by corporate insiders.

Institutional Trading of AST SpaceMobile

A number of large investors have recently made changes to their positions in the company. Calton & Associates Inc. raised its holdings in AST SpaceMobile by 0.8% in the fourth quarter. Calton & Associates Inc. now owns 13,579 shares of the company’s stock valued at $986,000 after acquiring an additional 104 shares in the last quarter. Investmark Advisory Group LLC grew its holdings in AST SpaceMobile by 2.7% during the 4th quarter. Investmark Advisory Group LLC now owns 4,645 shares of the company’s stock worth $337,000 after acquiring an additional 120 shares in the last quarter. ORG Partners LLC increased its position in shares of AST SpaceMobile by 4.2% in the 4th quarter. ORG Partners LLC now owns 3,283 shares of the company’s stock valued at $238,000 after purchasing an additional 133 shares during the last quarter. Atlantic Union Bankshares Corp raised its holdings in shares of AST SpaceMobile by 18.2% in the 4th quarter. Atlantic Union Bankshares Corp now owns 923 shares of the company’s stock valued at $67,000 after purchasing an additional 142 shares in the last quarter. Finally, Larson Financial Group LLC raised its holdings in shares of AST SpaceMobile by 39.0% in the 4th quarter. Larson Financial Group LLC now owns 513 shares of the company’s stock valued at $37,000 after purchasing 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.