AST SpaceMobile (NASDAQ:ASTS) Stock Price Down 1.4% – Should You Sell?

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s share price was down 1.4% during trading on Thursday . The stock traded as low as $71.77 and last traded at $73.88. Approximately 10,609,887 shares changed hands during trading, a decline of 43% from the average daily volume of 18,548,510 shares. The stock had previously closed at $74.95.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ASTS shares. William Blair reiterated a “market perform” rating on shares of AST SpaceMobile in a report on Friday, May 29th. New Street Research set a $106.00 price target on shares of AST SpaceMobile in a report on Friday, May 29th. Deutsche Bank Aktiengesellschaft lowered shares of AST SpaceMobile from a “buy” rating to a “hold” rating and reduced their price target for the stock from $117.00 to $106.00 in a research note on Friday, May 29th. Roth Capital reissued a “buy” rating and set a $108.00 price objective on shares of AST SpaceMobile in a report on Tuesday, May 12th. Finally, Wall Street Zen downgraded shares of AST SpaceMobile from a “sell” rating to a “strong sell” rating in a research report on Wednesday, April 15th. One equities research analyst has rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, AST SpaceMobile presently has a consensus rating of “Reduce” and a consensus price target of $85.09.

AST SpaceMobile Trading Down 1.4%

The stock has a market capitalization of $28.67 billion, a PE ratio of -41.51 and a beta of 2.69. The company has a current ratio of 18.47, a quick ratio of 18.37 and a debt-to-equity ratio of 1.11. The stock has a 50 day moving average price of $87.32 and a 200-day moving average price of $89.83.

AST SpaceMobile (NASDAQ:ASTS) last posted its earnings results on Monday, May 11th. The company reported ($0.66) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.43). The firm had revenue of $14.73 million during the quarter, compared to the consensus estimate of $39.01 million. AST SpaceMobile had a negative net margin of 573.67% and a negative return on equity of 24.87%. The firm’s revenue was up 1952.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.20) EPS. Sell-side analysts expect that AST SpaceMobile, Inc. will post -1.47 earnings per share for the current year.

Insider Buying and Selling at AST SpaceMobile

In other news, CFO Andrew Martin Johnson sold 45,809 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $93.81, for a total value of $4,297,342.29. Following the transaction, the chief financial officer owned 503,619 shares in the company, valued at $47,244,498.39. This represents a 8.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Hiroshi Mikitani sold 1,350,000 shares of the stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $86.22, for a total transaction of $116,397,000.00. Following the completion of the transaction, the insider owned 27,980,155 shares in the company, valued at $2,412,448,964.10. This trade represents a 4.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 3,145,809 shares of company stock worth $280,645,292 over the last 90 days. 20.89% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Crewe Advisors LLC purchased a new position in shares of AST SpaceMobile during the 4th quarter worth $25,000. Laurel Wealth Advisors LLC bought a new position in AST SpaceMobile in the 4th quarter worth $25,000. Cornerstone Planning Group LLC lifted its position in AST SpaceMobile by 16,350.0% during the first quarter. Cornerstone Planning Group LLC now owns 329 shares of the company’s stock valued at $27,000 after purchasing an additional 327 shares in the last quarter. Grove Bank & Trust bought a new stake in AST SpaceMobile during the second quarter valued at about $27,000. Finally, Byrne Asset Management LLC purchased a new stake in AST SpaceMobile in the fourth quarter worth about $29,000. 60.95% of the stock is currently owned by institutional investors.

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.