AST SpaceMobile (NASDAQ:ASTS) Stock Price Down 2.2% – Time to Sell?

AST SpaceMobile, Inc. (NASDAQ:ASTS) shares fell 2.2% on Wednesday . The stock traded as low as $61.23 and last traded at $61.95. Approximately 10,811,591 shares traded hands during mid-day trading, a decline of 42% from the average daily volume of 18,636,986 shares. The stock had previously closed at $63.34.

Trending Headlines about AST SpaceMobile

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

• Positive Sentiment: AST SpaceMobile completed a private offering of $1.15 billion in convertible senior notes due 2034, easing concerns that it lacked the capital needed to fund satellite launches and constellation buildout. AST SpaceMobile Announces Completion of Private Offering of $1.15 Billion of Convertible Senior Notes Due 2034
• Positive Sentiment: Reports that BlueBirds 8, 9, and 10 are fully deployed, with three more satellites already at Cape, reinforced progress toward commercial deployment and supported the stock’s momentum. ASTS Stock Rises Overnight: CEO Says BlueBirds 8, 9 And 10 Are Fully Deployed — With 3 More Satellites Already At Cape
• Positive Sentiment: Several articles framed AST SpaceMobile as a compelling long-term space stock, including a rating upgrade arguing that the new debt could accelerate the company’s full potential by securing launch capacity and funding execution. AST SpaceMobile: Convertible Notes Accelerate Its Full Potential (Rating Upgrade)
• Neutral Sentiment: AST SpaceMobile was featured in comparisons and watchlist-style articles versus names like Redwire, and one piece argued it is a more compelling space play than SpaceX, which may have helped investor sentiment but did not add new company-specific fundamentals. Better Space Stock: AST SpaceMobile vs. Redwire
• Negative Sentiment: Jim Cramer’s comments that AST SpaceMobile is “losing a fortune” and could fall to $40, along with a law-firm investor investigation, added caution and highlighted ongoing concerns about losses and risk. ‘That Thing Has Just Been Crushed’: Cramer On This Tech Stock INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of AST SpaceMobile, Inc. – ASTS

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. William Blair reiterated a “market perform” rating on shares of AST SpaceMobile in a research report on Friday, May 29th. Roth Capital restated a “buy” rating and issued a $108.00 target price on shares of AST SpaceMobile in a report on Tuesday, May 12th. Piper Sandler initiated coverage on shares of AST SpaceMobile in a research report on Wednesday, July 15th. They set an “overweight” rating and a $100.00 target price on the stock. UBS Group lowered their price target on shares of AST SpaceMobile from $85.00 to $80.00 and set a “neutral” rating for the company in a report on Tuesday, May 12th. Finally, B. Riley Financial upgraded AST SpaceMobile from a “neutral” rating to a “buy” rating and set a $85.00 price target for the company in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $86.95.

AST SpaceMobile Stock Down 2.2%

The company has a fifty day moving average of $86.07 and a two-hundred day moving average of $89.05. The company has a market cap of $24.04 billion, a PE ratio of -34.80 and a beta of 2.69. The company has a debt-to-equity ratio of 1.11, a quick ratio of 18.37 and a current ratio of 18.47.

AST SpaceMobile (NASDAQ:ASTS) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.66) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.43). The firm had revenue of $14.73 million for the quarter, compared to analysts’ expectations of $39.01 million. AST SpaceMobile had a negative return on equity of 24.87% and a negative net margin of 573.67%.The firm’s quarterly revenue was up 1952.2% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.20) earnings per share. As a group, analysts anticipate that AST SpaceMobile, Inc. will post -1.38 earnings per share for the current fiscal year.

Insider Transactions at AST SpaceMobile

In other news, Director Julio A. Torres sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $76.34, for a total value of $1,145,100.00. Following the completion of the sale, the director owned 43,239 shares in the company, valued at approximately $3,300,865.26. This trade represents a 25.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Huiwen Yao sold 40,000 shares of AST SpaceMobile stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $96.37, for a total transaction of $3,854,800.00. Following the transaction, the chief technology officer directly owned 34,750 shares of the company’s stock, valued at approximately $3,348,857.50. This represents a 53.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 105,809 shares of company stock worth $9,748,492. 20.89% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. AQR Capital Management LLC grew its stake in shares of AST SpaceMobile by 11.8% during the first quarter. AQR Capital Management LLC now owns 34,548 shares of the company’s stock valued at $786,000 after buying an additional 3,642 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of AST SpaceMobile by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 79,764 shares of the company’s stock worth $1,814,000 after acquiring an additional 3,515 shares during the last quarter. Millennium Management LLC boosted its holdings in AST SpaceMobile by 16.1% during the 1st quarter. Millennium Management LLC now owns 467,626 shares of the company’s stock valued at $10,634,000 after acquiring an additional 64,989 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in AST SpaceMobile by 18.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 325,621 shares of the company’s stock valued at $7,405,000 after acquiring an additional 49,811 shares during the period. Finally, Strs Ohio bought a new position in AST SpaceMobile in the 1st quarter valued at $168,000. Institutional investors 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.