AST SpaceMobile (NASDAQ:ASTS) Trading Down 0.3% – What’s Next?

AST SpaceMobile, Inc. (NASDAQ:ASTS) dropped 0.3% on Thursday . The company traded as low as $22.90 and last traded at $23.29. Approximately 1,812,868 shares changed hands during trading, a decline of 83% from the average daily volume of 10,412,544 shares. The stock had previously closed at $23.36.

Wall Street Analyst Weigh In

ASTS has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft increased their target price on shares of AST SpaceMobile from $22.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. B. Riley raised their price objective on AST SpaceMobile from $26.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. UBS Group upped their price objective on shares of AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, Scotiabank lowered their target price on shares of AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating for the company in a research note on Friday, November 15th.

AST SpaceMobile Trading Down 0.3 %

The company has a market cap of $6.75 billion, a PE ratio of -10.99 and a beta of 1.60. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31. The company has a fifty day simple moving average of $24.68 and a two-hundred day simple moving average of $21.61.

Insiders Place Their Bets

In other news, COO Shanti B. Gupta sold 80,000 shares of AST SpaceMobile stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $25.83, for a total value of $2,066,400.00. Following the sale, the chief operating officer now owns 393,232 shares of the company’s stock, valued at $10,157,182.56. The trade was a 16.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Huiwen Yao sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $24.26, for a total value of $1,091,700.00. Following the transaction, the chief technology officer now owns 55,000 shares in the company, valued at $1,334,300. The trade was a 45.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 127,700 shares of company stock valued at $3,220,524. 41.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ASTS. B. Riley Wealth Advisors Inc. acquired a new position in shares of AST SpaceMobile in the 2nd quarter valued at about $278,000. Van ECK Associates Corp increased its position in shares of AST SpaceMobile by 141.1% in the third quarter. Van ECK Associates Corp now owns 103,437 shares of the company’s stock worth $2,716,000 after acquiring an additional 60,530 shares in the last quarter. Algert Global LLC purchased a new position in AST SpaceMobile during the 3rd quarter worth approximately $768,000. Americana Partners LLC acquired a new stake in AST SpaceMobile during the 3rd quarter valued at $673,000. Finally, Oppenheimer & Co. Inc. boosted its position in shares of AST SpaceMobile by 6.0% in the third quarter. Oppenheimer & Co. Inc. now owns 846,072 shares of the company’s stock worth $22,125,000 after buying an additional 47,600 shares during the period. Institutional investors and hedge funds own 60.95% of the company’s stock.

AST SpaceMobile Company Profile

AST SpaceMobile, Inc, together with its subsidiaries, develops and provides access to a space-based cellular broadband network for smartphones in the United States. Its SpaceMobile service provides cellular broadband services to end-users who are out of terrestrial cellular coverage. The company was founded in 2017 and is headquartered in Midland, Texas.