AST SpaceMobile (NASDAQ:ASTS) Stock Price Down 2% - Time to Sell?

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) traded down 2% during trading on Monday . The company traded as low as $44.03 and last traded at $44.69. 3,513,006 shares were traded during trading, a decline of 72% from the average session volume of 12,722,290 shares. The stock had previously closed at $45.60.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Oppenheimer assumed coverage on shares of AST SpaceMobile in a report on Monday, May 5th. They set a "market perform" rating for the company. Bank of America started coverage on shares of AST SpaceMobile in a research note on Wednesday, June 25th. They issued a "neutral" rating and a $55.00 price objective for the company. Scotiabank reissued a "sector perform" rating and issued a $45.40 price objective on shares of AST SpaceMobile in a research note on Monday, June 23rd. B. Riley reissued 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. Finally, Roth Capital started 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. Three 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 has a consensus rating of "Moderate Buy" and a consensus price target of $45.34.

AST SpaceMobile Trading Up 3.5%

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 stock's 50-day moving average is $34.55 and its two-hundred day moving average is $28.00. The stock has a market cap of $13.92 billion, a P/E ratio of -22.10 and a beta of 2.27.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last issued 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). AST SpaceMobile had a negative return on equity of 23.56% and a negative net margin of 7,033.22%. The company had revenue of $0.72 million for the quarter, compared to the consensus estimate of $3.85 million. Equities research analysts anticipate that AST SpaceMobile, Inc. will post -0.4 EPS for the current year.

Insider Buying and Selling

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

Hedge Funds Weigh In On AST SpaceMobile

Institutional investors have recently bought and sold shares of the business. Sunbelt Securities Inc. lifted its position in AST SpaceMobile by 61.9% during the first quarter. Sunbelt Securities Inc. now owns 1,321 shares of the company's stock valued at $30,000 after purchasing an additional 505 shares during the last quarter. GAMMA Investing LLC lifted its position in AST SpaceMobile by 388.7% during the first quarter. GAMMA Investing LLC now owns 1,559 shares of the company's stock valued at $35,000 after purchasing an additional 1,240 shares during the last quarter. Summit Securities Group LLC bought a new position in AST SpaceMobile during the fourth quarter valued at $37,000. Financial Gravity Asset Management Inc. bought a new position in AST SpaceMobile during the first quarter valued at $41,000. Finally, Close Asset Management Ltd lifted its position in AST SpaceMobile by 72.4% during the first quarter. Close Asset Management Ltd now owns 1,810 shares of the company's stock valued at $41,000 after purchasing an additional 760 shares during the last quarter. 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.