AST SpaceMobile (NASDAQ:ASTS) Shares Down 1.4% - What's Next?

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) shares fell 1.4% during trading on Tuesday . The company traded as low as $45.37 and last traded at $45.05. 2,509,408 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 12,699,857 shares. The stock had previously closed at $45.69.

Analyst Ratings Changes

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

AST SpaceMobile Trading Up 4.1%

The company has a current ratio of 10.62, a quick ratio of 10.62 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $14.48 billion, a price-to-earnings ratio of -22.98 and a beta of 2.27. The firm has a 50-day moving average of $34.55 and a 200 day moving average of $28.00.

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

Insider Activity at AST SpaceMobile

In related news, COO Shanti B. Gupta sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $41.84, for a total value of $418,400.00. Following the sale, the chief operating officer directly owned 305,667 shares in the company, valued at $12,789,107.28. This trade represents a 3.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Huiwen Yao sold 4,250 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $34.60, for a total value of $147,050.00. Following the completion of the sale, the chief technology officer owned 20,750 shares in the company, valued at approximately $717,950. This represents a 17.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 184,250 shares of company stock worth $6,146,750 in the last three months. 34.15% of the stock is owned by company insiders.

Hedge Funds Weigh In On AST SpaceMobile

Several hedge funds have recently modified their holdings of ASTS. Bank of New York Mellon Corp increased its position in shares of AST SpaceMobile by 57.6% during the 4th quarter. Bank of New York Mellon Corp now owns 641,678 shares of the company's stock valued at $13,539,000 after purchasing an additional 234,517 shares during the period. Jones Financial Companies Lllp increased its position in shares of AST SpaceMobile by 667.1% during the 4th quarter. Jones Financial Companies Lllp now owns 5,454 shares of the company's stock valued at $115,000 after purchasing an additional 4,743 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of AST SpaceMobile by 11.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,266,713 shares of the company's stock valued at $26,728,000 after purchasing an additional 135,008 shares during the period. Victory Capital Management Inc. increased its position in shares of AST SpaceMobile by 22.8% during the 4th quarter. Victory Capital Management Inc. now owns 37,662 shares of the company's stock valued at $795,000 after purchasing an additional 6,982 shares during the period. Finally, Arizona State Retirement System increased its position in shares of AST SpaceMobile by 18.9% during the 4th quarter. Arizona State Retirement System now owns 46,352 shares of the company's stock valued at $978,000 after purchasing an additional 7,370 shares during the period. 60.95% of the stock is currently owned by institutional investors and hedge funds.

About AST SpaceMobile

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.