AST SpaceMobile (NASDAQ:ASTS) Shares Down 0.3% – Should You Sell?

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s stock price fell 0.3% during mid-day trading on Thursday . The stock traded as low as $22.90 and last traded at $23.29. 1,812,868 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 10,412,544 shares. The stock had previously closed at $23.36.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. UBS Group increased their price objective on AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, November 15th. B. Riley raised their price target on shares of AST SpaceMobile from $26.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft upped their price objective 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. Finally, Scotiabank decreased their target price on AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating on the stock in a research report on Friday, November 15th.

AST SpaceMobile Stock Down 0.5 %

The firm has a fifty day moving average price of $24.65 and a 200 day moving average price of $21.72. The firm has a market capitalization of $6.63 billion, a price-to-earnings ratio of -10.79 and a beta of 1.60. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31.

Insiders Place Their Bets

In other AST SpaceMobile news, COO Shanti B. Gupta sold 80,000 shares of AST SpaceMobile stock in a transaction on Monday, September 30th. The shares were sold at an average price of $25.83, for a total transaction of $2,066,400.00. Following the completion of the sale, the chief operating officer now owns 393,232 shares of the company’s stock, valued at approximately $10,157,182.56. The trade was a 16.91 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Scott Wisniewski sold 2,700 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $23.12, for a total value of $62,424.00. Following the completion of the transaction, the president now owns 712,660 shares in the company, valued at $16,476,699.20. This represents a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 127,700 shares of company stock valued at $3,220,524. Insiders own 41.80% of the company’s stock.

Institutional Investors Weigh In On AST SpaceMobile

Large investors have recently bought and sold shares of the company. Fairfield Financial Advisors LTD bought a new stake in shares of AST SpaceMobile during the third quarter worth $26,000. Hollencrest Capital Management acquired a new stake in shares of AST SpaceMobile in the 3rd quarter valued at about $26,000. Rakuten Securities Inc. bought a new stake in shares of AST SpaceMobile in the third quarter valued at about $68,000. Sunbelt Securities Inc. boosted its position in shares of AST SpaceMobile by 3,380.0% during the third quarter. Sunbelt Securities Inc. now owns 3,480 shares of the company’s stock worth $91,000 after buying an additional 3,380 shares during the period. Finally, KBC Group NV bought a new position in shares of AST SpaceMobile during the third quarter worth about $104,000. 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.