AST SpaceMobile (NASDAQ:ASTS) Trading Down 1.7%

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) fell 1.7% during trading on Monday . The company traded as low as $25.95 and last traded at $26.06. 2,431,756 shares were traded during trading, a decline of 77% from the average session volume of 10,513,649 shares. The stock had previously closed at $26.50.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ASTS shares. Scotiabank raised their price objective on AST SpaceMobile from $28.00 to $45.90 and gave the company a "sector outperform" rating in a research note on Monday, August 26th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of AST SpaceMobile from $22.00 to $63.00 and gave the company a "buy" rating in a research report on Wednesday, September 4th. B. Riley upped their price objective on shares of AST SpaceMobile from $26.00 to $36.00 and gave the stock a "buy" rating in a report on Thursday, August 29th. Finally, UBS Group boosted their target price on shares of AST SpaceMobile from $13.00 to $30.00 and gave the stock a "buy" rating in a research report on Thursday, August 15th.

AST SpaceMobile Stock Up 0.4 %

The firm has a 50-day moving average price of $24.28 and a two-hundred day moving average price of $12.16. The company has a market capitalization of $6.85 billion, a P/E ratio of -26.59 and a beta of 1.63. The company has a quick ratio of 6.38, a current ratio of 6.38 and a debt-to-equity ratio of 0.83.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.05. The company had revenue of $0.90 million during the quarter, compared to analyst estimates of $2.00 million. Equities research analysts anticipate that AST SpaceMobile, Inc. will post -0.88 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Adriana Cisneros acquired 4,934 shares of the firm's stock in a transaction dated Friday, September 6th. The shares were bought at an average price of $26.32 per share, with a total value of $129,862.88. Following the acquisition, the director now owns 774,772 shares of the company's stock, valued at $20,391,999.04. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 56.56% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. acquired a new position in shares of AST SpaceMobile in the 4th quarter valued at $65,000. PNC Financial Services Group Inc. raised its position in AST SpaceMobile by 319.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 163,296 shares of the company's stock worth $985,000 after purchasing an additional 124,322 shares in the last quarter. IPG Investment Advisors LLC bought a new position in AST SpaceMobile during the fourth quarter worth about $96,000. Rathbones Group PLC acquired a new stake in AST SpaceMobile during the fourth quarter valued at approximately $76,000. Finally, Cantor Fitzgerald L. P. acquired a new stake in AST SpaceMobile during the fourth quarter valued at approximately $66,000. 60.95% of the stock is owned by institutional investors.

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.