AST SpaceMobile (NASDAQ:ASTS) Stock Price Down 5.3% - Time to Sell?

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) was down 5.3% during mid-day trading on Monday . The company traded as low as $46.20 and last traded at $46.74. Approximately 6,884,352 shares traded hands during mid-day trading, a decline of 44% from the average daily volume of 12,388,090 shares. The stock had previously closed at $49.36.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. B. Riley reaffirmed a "buy" rating and issued a $44.00 price objective (up from $36.00) on shares of AST SpaceMobile in a research note on Monday, June 16th. UBS Group lifted their target price on AST SpaceMobile from $31.00 to $38.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th. Cantor Fitzgerald reiterated an "overweight" rating and set a $30.00 price target on shares of AST SpaceMobile in a research note on Tuesday, March 4th. Roth Capital initiated coverage on shares of AST SpaceMobile in a research note on Thursday, April 10th. They issued a "buy" rating and a $42.00 price objective for the company. Finally, Scotiabank restated a "sector perform" rating and issued a $45.40 price objective on shares of AST SpaceMobile in a 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $45.34.

AST SpaceMobile Stock Down 4.1%

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 company has a market cap of $14.99 billion, a PE ratio of -23.77 and a beta of 2.02. The business's 50 day moving average is $30.54 and its 200-day moving average is $26.70.

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

Insiders Place Their Bets

In other news, CTO Huiwen Yao sold 55,000 shares of AST SpaceMobile stock in a transaction on Friday, May 16th. The shares were sold at an average price of $26.82, for a total value of $1,475,100.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Scott Wisniewski sold 50,000 shares of the firm's stock in a transaction 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 transaction, the president now directly owns 545,595 shares in the company, valued at $19,450,461.75. The trade was a 8.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 184,250 shares of company stock valued at $6,146,750. 41.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AST SpaceMobile

Several large investors have recently modified their holdings of ASTS. Voya Investment Management LLC lifted its stake in shares of AST SpaceMobile by 1,992.5% in the 1st quarter. Voya Investment Management LLC now owns 843,554 shares of the company's stock worth $19,182,000 after acquiring an additional 803,240 shares during the period. Strs Ohio acquired a new position in AST SpaceMobile during the 1st quarter worth approximately $168,000. Belpointe Asset Management LLC acquired a new stake in shares of AST SpaceMobile in the 1st quarter valued at approximately $900,000. Intech Investment Management LLC boosted its stake in shares of AST SpaceMobile by 36.2% in the first quarter. Intech Investment Management LLC now owns 84,069 shares of the company's stock valued at $1,912,000 after buying an additional 22,358 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in AST SpaceMobile by 18.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 325,621 shares of the company's stock worth $7,405,000 after acquiring an additional 49,811 shares during the period. Hedge funds and other institutional investors own 60.95% of the company's stock.

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.

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