AST SpaceMobile (NASDAQ:ASTS) Stock Price Down 1.8% - What's Next?

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report)'s stock price dropped 1.8% during mid-day trading on Wednesday . The company traded as low as $44.56 and last traded at $44.28. Approximately 2,497,301 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 12,695,563 shares. The stock had previously closed at $45.11.

Analyst Ratings Changes

ASTS has been the topic of a number of recent research reports. UBS Group boosted their target price on AST SpaceMobile from $31.00 to $38.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. Bank of America started coverage on AST SpaceMobile in a research report on Wednesday, June 25th. They set a "neutral" rating and a $55.00 target price on the stock. Cantor Fitzgerald restated an "overweight" rating and issued a $30.00 price objective on shares of AST SpaceMobile in a research report on Tuesday, March 4th. B. Riley restated a "buy" rating and issued a $44.00 price objective (up from $36.00) on shares of AST SpaceMobile in a research report on Monday, June 16th. Finally, Roth Capital assumed coverage on AST SpaceMobile in a research report on Thursday, April 10th. They set a "buy" rating and a $42.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, AST SpaceMobile has an average rating of "Moderate Buy" and an average price target of $45.34.

AST SpaceMobile Trading Up 1.3%

The company has a quick ratio of 10.62, a current ratio of 10.62 and a debt-to-equity ratio of 0.60. The firm has a market cap of $14.47 billion, a price-to-earnings ratio of -22.97 and a beta of 2.27. The business has a 50 day moving average price of $32.00 and a 200-day moving average price of $27.12.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company had revenue of $0.72 million during the quarter, compared to analyst estimates of $3.85 million. As a group, research analysts expect that AST SpaceMobile, Inc. will post -0.4 EPS for the current fiscal year.

Insider Buying and Selling at AST SpaceMobile

In other AST SpaceMobile news, President Scott Wisniewski sold 50,000 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $35.65, for a total transaction of $1,782,500.00. Following the completion of the sale, the president owned 545,595 shares in the company, valued at $19,450,461.75. This trade represents a 8.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Shanti B. Gupta sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $41.84, for a total value of $418,400.00. Following the sale, the chief operating officer owned 305,667 shares of the company's stock, valued at approximately $12,789,107.28. This trade represents a 3.17% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 184,250 shares of company stock worth $6,146,750 in the last 90 days. 34.15% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AST SpaceMobile

Hedge funds have recently bought and sold shares of the business. Sunbelt Securities Inc. grew its position in shares of 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 in the last quarter. Xponance Inc. grew its position in shares of AST SpaceMobile by 5.9% in the 1st quarter. Xponance Inc. now owns 10,244 shares of the company's stock worth $233,000 after acquiring an additional 568 shares in the last quarter. Close Asset Management Ltd grew its position in shares of AST SpaceMobile by 72.4% in the 1st quarter. Close Asset Management Ltd now owns 1,810 shares of the company's stock worth $41,000 after acquiring an additional 760 shares in the last quarter. KBC Group NV grew its position in shares of AST SpaceMobile by 15.6% in the 1st quarter. KBC Group NV now owns 7,525 shares of the company's stock worth $171,000 after acquiring an additional 1,016 shares in the last quarter. Finally, CIBC Private Wealth Group LLC grew its position in shares of AST SpaceMobile by 106.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company's stock worth $53,000 after acquiring an additional 1,222 shares in the last quarter. Institutional investors and hedge funds 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.