AST SpaceMobile (NASDAQ:ASTS) Stock Price Down 2% - Should You Sell?

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

Analyst Ratings Changes

ASTS has been the topic of a number of research analyst reports. Scotiabank restated a "sector perform" rating and issued a $45.40 target price on shares of AST SpaceMobile in a research note on Monday, June 23rd. B. Riley restated a "buy" rating and issued a $44.00 target price (up from $36.00) on shares of AST SpaceMobile in a research note on Monday, June 16th. Bank of America assumed coverage on AST SpaceMobile in a research note on Wednesday, June 25th. They issued a "neutral" rating and a $55.00 target price on the stock. Oppenheimer assumed coverage on AST SpaceMobile in a research report on Monday, May 5th. They set a "market perform" rating on the stock. 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 price objective on the stock. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, AST SpaceMobile currently has a consensus rating of "Moderate Buy" and an average target price of $45.34.

AST SpaceMobile Price Performance

The stock has a market capitalization of $14.46 billion, a P/E ratio of -22.96 and a beta of 2.27. The firm has a 50-day moving average price of $33.31 and a 200 day moving average price of $27.63. The company has a debt-to-equity ratio of 0.60, a quick ratio of 10.62 and a current ratio of 10.62.

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 the consensus estimate of ($0.17) by ($0.03). The company had revenue of $0.72 million for the quarter, compared to analysts' expectations of $3.85 million. AST SpaceMobile had a negative net margin of 7,033.22% and a negative return on equity of 23.56%. On average, analysts expect that AST SpaceMobile, Inc. will post -0.4 EPS for the current year.

Insider Activity at AST SpaceMobile

In other AST SpaceMobile news, President Scott Wisniewski sold 50,000 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $35.65, for a total value of $1,782,500.00. Following the completion of the sale, the president owned 545,595 shares in the company, valued at approximately $19,450,461.75. This trade represents a 8.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Shanti B. Gupta sold 10,000 shares of the 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 completion of 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 184,250 shares of company stock worth $6,146,750 in the last ninety days. 41.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On AST SpaceMobile

Several institutional investors and hedge funds have recently bought and sold shares of ASTS. Sunbelt Securities Inc. lifted its holdings in 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 buying an additional 505 shares during the period. GAMMA Investing LLC lifted its holdings in AST SpaceMobile by 388.7% in the 1st quarter. GAMMA Investing LLC now owns 1,559 shares of the company's stock worth $35,000 after buying an additional 1,240 shares during the period. Summit Securities Group LLC purchased a new stake in AST SpaceMobile in the 4th quarter worth approximately $37,000. Financial Gravity Asset Management Inc. purchased a new stake in AST SpaceMobile in the 1st quarter worth approximately $41,000. Finally, Close Asset Management Ltd lifted its holdings in 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 buying an additional 760 shares during the period. Hedge funds and other institutional investors 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.