AST SpaceMobile (NASDAQ:ASTS) Shares Down 0.4% – Time to Sell?

AST SpaceMobile, Inc. (NASDAQ:ASTS) was down 0.4% on Thursday . The stock traded as low as $23.06 and last traded at $23.29. Approximately 6,944,095 shares traded hands during mid-day trading, a decline of 35% from the average daily volume of 10,634,587 shares. The stock had previously closed at $23.39.

Analyst Ratings Changes

Several analysts have recently issued reports on ASTS shares. B. Riley increased their price target on shares of 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 increased their target price on shares of AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Scotiabank dropped their price target 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. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on AST SpaceMobile from $22.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th.

AST SpaceMobile Price Performance

The stock’s 50 day moving average is $25.17 and its two-hundred day moving average is $19.61. The stock has a market capitalization of $6.75 billion, a PE ratio of -10.99 and a beta of 1.64. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80.

Insiders Place Their Bets

In other AST SpaceMobile news, CTO Huiwen Yao sold 45,000 shares of AST SpaceMobile stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $24.26, for a total transaction of $1,091,700.00. Following the completion of the sale, the chief technology officer now directly owns 55,000 shares of the company’s stock, valued at $1,334,300. The trade was a 45.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Scott Wisniewski sold 2,700 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $23.12, for a total value of $62,424.00. Following the transaction, the president now directly owns 712,660 shares of the company’s stock, valued at approximately $16,476,699.20. This represents a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 127,700 shares of company stock worth $3,220,524 in the last 90 days. Corporate insiders own 41.80% of the company’s stock.

Hedge Funds Weigh In On AST SpaceMobile

Several hedge funds have recently made changes to their positions in ASTS. Amalgamated Bank grew its stake in AST SpaceMobile by 17.4% during the 3rd quarter. Amalgamated Bank now owns 4,578 shares of the company’s stock worth $120,000 after buying an additional 679 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of AST SpaceMobile by 5.5% in the second quarter. Victory Capital Management Inc. now owns 15,542 shares of the company’s stock valued at $180,000 after acquiring an additional 814 shares during the period. Fairfield Financial Advisors LTD purchased a new position in shares of AST SpaceMobile during the third quarter worth approximately $26,000. Hollencrest Capital Management purchased a new position in shares of AST SpaceMobile during the third quarter worth approximately $26,000. Finally, Calton & Associates Inc. increased its holdings in shares of AST SpaceMobile by 14.5% in the 3rd quarter. Calton & Associates Inc. now owns 12,600 shares of the company’s stock valued at $329,000 after acquiring an additional 1,600 shares during the period. Hedge funds and other institutional investors 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.