AST SpaceMobile (NASDAQ:ASTS) Shares Down 7.8% - What's Next?

Key Points

• AST SpaceMobile shares fell 7.8% intraday to $56.60 on Monday, with 9.34 million shares traded—below the ~12.10 million average session volume.
• The company reported Q3 EPS of ($0.45), missing estimates of ($0.18), and revenue of $14.74 million versus a $22.04 million consensus, although revenue was up 1,236% year‑over‑year.
• Analysts' consensus rating is Reduce with an average price target of $45.27 after recent downgrades from Barclays and UBS; analyst coverage is mixed (3 Buy, 4 Hold, 4 Sell).

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report)'s share price traded down 7.8% during mid-day trading on Monday . The company traded as low as $56.16 and last traded at $56.60. 9,344,898 shares changed hands during trading, a decline of 23% from the average session volume of 12,102,672 shares. The stock had previously closed at $61.40.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ASTS. Barclays cut shares of AST SpaceMobile from an "overweight" rating to an "underweight" rating and set a $60.00 price objective for the company. in a research note on Friday, October 17th. Weiss Ratings restated a "sell (d-)" rating on shares of AST SpaceMobile in a report on Wednesday, October 8th. UBS Group cut shares of AST SpaceMobile from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $62.00 to $43.00 in a research report on Tuesday, September 9th. William Blair initiated coverage on shares of AST SpaceMobile in a research report on Thursday, August 21st. They set a "market perform" rating on the stock. Finally, Roth Capital reiterated a "buy" rating on shares of AST SpaceMobile in a research report on Tuesday, August 12th. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, AST SpaceMobile currently has a consensus rating of "Reduce" and an average price target of $45.27.

AST SpaceMobile Trading Down 7.8%

The company has a fifty day moving average price of $64.81 and a 200-day moving average price of $49.68. The company has a current ratio of 9.56, a quick ratio of 9.48 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $20.29 billion, a price-to-earnings ratio of -45.64 and a beta of 2.46.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.45) EPS for the quarter, missing analysts' consensus estimates of ($0.18) by ($0.27). AST SpaceMobile had a negative return on equity of 27.76% and a negative net margin of 1,639.59%.The business had revenue of $14.74 million during the quarter, compared to the consensus estimate of $22.04 million. During the same quarter in the previous year, the firm posted ($1.10) earnings per share. The company's revenue for the quarter was up 1236.4% on a year-over-year basis. On average, equities research analysts predict that AST SpaceMobile, Inc. will post -0.4 EPS for the current year.

Insider Buying and Selling at AST SpaceMobile

In other news, CTO Huiwen Yao sold 40,000 shares of the company's stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $40.58, for a total transaction of $1,623,200.00. Following the completion of the transaction, the chief technology officer directly owned 4,750 shares of the company's stock, valued at $192,755. This represents a 89.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Andrew Martin Johnson sold 20,000 shares of the company's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $52.48, for a total transaction of $1,049,600.00. Following the sale, the chief financial officer directly owned 397,485 shares in the company, valued at $20,860,012.80. This trade represents a 4.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 30.90% of the company's stock.

Institutional Trading of AST SpaceMobile

Several large investors have recently modified their holdings of the stock. REAP Financial Group LLC bought a new position in shares of AST SpaceMobile in the third quarter worth about $25,000. Harvest Fund Management Co. Ltd bought a new position in AST SpaceMobile during the 3rd quarter worth approximately $29,000. Atlantic Union Bankshares Corp bought a new stake in shares of AST SpaceMobile during the 2nd quarter valued at about $28,000. Geneos Wealth Management Inc. boosted its holdings in shares of AST SpaceMobile by 225.0% during the 3rd quarter. Geneos Wealth Management Inc. now owns 650 shares of the company's stock worth $32,000 after buying an additional 450 shares in the last quarter. Finally, Binnacle Investments Inc acquired a new position in AST SpaceMobile during the 2nd quarter worth approximately $33,000. 60.95% of the stock is owned by institutional investors and hedge funds.

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.

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