Free Trial

AST SpaceMobile (NASDAQ:ASTS) Shares Down 3.4% - Time to Sell?

AST SpaceMobile logo with Computer and Technology background

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report)'s stock price dropped 3.4% on Wednesday . The company traded as low as $42.81 and last traded at $43.90. Approximately 4,204,066 shares changed hands during trading, a decline of 67% from the average daily volume of 12,698,845 shares. The stock had previously closed at $45.46.

Analyst Upgrades and Downgrades

ASTS has been the subject of several research reports. Roth Capital assumed coverage on shares of AST SpaceMobile in a research report on Thursday, April 10th. They issued a "buy" rating and a $42.00 price target for the company. Scotiabank reiterated a "sector perform" rating and set a $45.40 price objective on shares of AST SpaceMobile in a report on Monday, June 23rd. B. Riley restated a "buy" rating and issued a $44.00 target price (up previously from $36.00) on shares of AST SpaceMobile in a report on Monday, June 16th. Bank of America started coverage on AST SpaceMobile in a research note on Wednesday, June 25th. They set a "neutral" rating and a $55.00 price target for the company. Finally, Oppenheimer assumed coverage on AST SpaceMobile in a report on Monday, May 5th. They set a "market perform" rating for the company. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, AST SpaceMobile currently has a consensus rating of "Moderate Buy" and a consensus price target of $45.34.

Get Our Latest Research Report on AST SpaceMobile

AST SpaceMobile Trading Up 3.7%

The company has a debt-to-equity ratio of 0.60, a current ratio of 10.62 and a quick ratio of 10.62. The firm's fifty day moving average is $34.55 and its two-hundred day moving average is $28.00. The firm has a market capitalization of $14.43 billion, a PE ratio of -22.91 and a beta of 2.27.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.03). The business had revenue of $0.72 million during the quarter, compared to analysts' expectations of $3.85 million. AST SpaceMobile had a negative return on equity of 23.56% and a negative net margin of 7,033.22%. On average, equities analysts predict that AST SpaceMobile, Inc. will post -0.4 EPS for the current fiscal year.

Insider Buying and Selling

In related news, President Scott Wisniewski sold 50,000 shares of AST SpaceMobile stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $35.65, for a total value of $1,782,500.00. Following the sale, the president owned 545,595 shares of the company's stock, valued at approximately $19,450,461.75. The trade was a 8.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Shanti B. Gupta sold 15,000 shares of the company's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $36.08, for a total value of $541,200.00. Following the completion of the transaction, the chief operating officer owned 315,667 shares in the company, valued at approximately $11,389,265.36. The trade was a 4.54% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 184,250 shares of company stock valued at $6,146,750. 34.15% of the stock is owned by insiders.

Institutional Trading of AST SpaceMobile

Several hedge funds have recently made changes to their positions in ASTS. Sunbelt Securities Inc. increased its holdings in AST SpaceMobile by 61.9% in the 1st quarter. Sunbelt Securities Inc. now owns 1,321 shares of the company's stock worth $30,000 after acquiring an additional 505 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of AST SpaceMobile by 388.7% during the 1st quarter. GAMMA Investing LLC now owns 1,559 shares of the company's stock valued at $35,000 after buying an additional 1,240 shares in the last quarter. Summit Securities Group LLC purchased a new stake in shares of AST SpaceMobile during the 4th quarter valued at approximately $37,000. Financial Gravity Asset Management Inc. bought a new position in AST SpaceMobile in the 1st quarter worth approximately $41,000. Finally, Close Asset Management Ltd grew its stake in AST SpaceMobile by 72.4% in the 1st quarter. Close Asset Management Ltd now owns 1,810 shares of the company's stock valued at $41,000 after buying an additional 760 shares in the last quarter. 60.95% of the stock is currently owned by institutional investors.

AST SpaceMobile Company Profile

(Get Free Report)

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.

Featured Articles

Should You Invest $1,000 in AST SpaceMobile Right Now?

Before you consider AST SpaceMobile, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and AST SpaceMobile wasn't on the list.

While AST SpaceMobile currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

These 7 Stocks Will Be Magnificent in 2025 Cover

Discover the next wave of investment opportunities with our report, 7 Stocks That Will Be Magnificent in 2025. Explore companies poised to replicate the growth, innovation, and value creation of the tech giants dominating today's markets.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

3 Hot Growth Stocks to Watch Right Now!
Don’t Miss These Top 3 Defense Stocks Set To Gain
Triple-Digit Gains: These 4 Nuclear Stocks Have Even More Upside Ahead

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines