AST SpaceMobile (NASDAQ:ASTS) Stock Price Down 1.7% – Should You Sell?

AST SpaceMobile, Inc. (NASDAQ:ASTS) dropped 1.7% during trading on Monday . The company traded as low as $86.53 and last traded at $88.3870. Approximately 12,852,798 shares were traded during mid-day trading, a decline of 14% from the average daily volume of 14,999,605 shares. The stock had previously closed at $89.93.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. UBS Group upped their price objective 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. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of AST SpaceMobile in a report on Tuesday, January 20th. B. Riley Financial cut their price target on shares of AST SpaceMobile from $105.00 to $95.00 and set a “neutral” rating for the company in a report on Friday, February 13th. Scotiabank lowered shares of AST SpaceMobile from a “sector perform” rating to a “sector underperform” rating and set a $45.60 price target on the stock. in a research report on Wednesday, January 7th. Finally, Zacks Research raised shares of AST SpaceMobile from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, AST SpaceMobile presently has a consensus rating of “Reduce” and an average target price of $63.77.

AST SpaceMobile Trading Down 1.7%

The firm has a 50-day moving average of $96.29 and a two-hundred day moving average of $77.27. The firm has a market capitalization of $33.77 billion, a P/E ratio of -66.96 and a beta of 2.78. The company has a current ratio of 16.35, a quick ratio of 16.27 and a debt-to-equity ratio of 0.92.

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). The business had revenue of $54.31 million during the quarter, compared to the consensus estimate of $39.53 million. AST SpaceMobile had a negative net margin of 482.16% and a negative return on equity of 23.02%. The company’s revenue was up 2731.3% compared to the same quarter last year. On average, analysts anticipate 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 acquired 625 shares of the company’s stock in a transaction that occurred on Wednesday, December 24th. The stock was acquired at an average price of $80.00 per share, with a total value of $50,000.00. Following the purchase, the director directly owned 2,015 shares in the company, valued at approximately $161,200. This trade represents a 44.96% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 30.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Crewe Advisors LLC acquired a new stake in shares of AST SpaceMobile during the 4th quarter valued at $25,000. Laurel Wealth Advisors LLC acquired a new position in AST SpaceMobile in the 4th quarter worth about $25,000. Byrne Asset Management LLC bought a new position in AST SpaceMobile in the fourth quarter valued at about $29,000. Acumen Wealth Advisors LLC bought a new position in AST SpaceMobile in the fourth quarter valued at about $29,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of AST SpaceMobile during the fourth quarter valued at about $33,000. 60.95% of the stock is currently owned by 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.