AST SpaceMobile (NASDAQ:ASTS) Shares Down 0.3% – Time to Sell?

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) were down 0.3% on Tuesday . The stock traded as low as $22.92 and last traded at $23.14. Approximately 2,104,153 shares traded hands during trading, a decline of 80% from the average daily volume of 10,554,967 shares. The stock had previously closed at $23.22.

Analyst Upgrades and Downgrades

ASTS has been the subject of several recent analyst reports. Scotiabank cut their price objective on shares of AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating for the company in a research report on Friday, November 15th. 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 increased their price objective on AST SpaceMobile from $26.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, UBS Group lifted their target price on AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, November 15th.

AST SpaceMobile Trading Down 0.9 %

The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31. The business has a 50-day simple moving average of $24.91 and a 200-day simple moving average of $20.06. The company has a market cap of $6.66 billion, a PE ratio of -10.92 and a beta of 1.60.

Insider Buying and Selling at AST SpaceMobile

In other news, Director Adriana Cisneros bought 4,934 shares of AST SpaceMobile stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average price of $26.32 per share, with a total value of $129,862.88. Following the completion of the acquisition, the director now directly owns 774,772 shares in the company, valued at $20,391,999.04. The trade was a 0.64 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Shanti B. Gupta sold 80,000 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $25.83, for a total transaction of $2,066,400.00. Following the transaction, the chief operating officer now owns 393,232 shares of the company’s stock, valued at $10,157,182.56. This trade represents a 16.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 127,700 shares of company stock valued at $3,220,524 in the last three months. 41.80% of the stock is owned by corporate insiders.

Institutional Trading of AST SpaceMobile

A number of institutional investors have recently bought and sold shares of the business. Fairfield Financial Advisors LTD acquired a new stake in shares of AST SpaceMobile during the 3rd quarter worth about $26,000. Hollencrest Capital Management acquired a new stake in AST SpaceMobile during the third quarter worth approximately $26,000. Rakuten Securities Inc. purchased a new stake in shares of AST SpaceMobile during the 3rd quarter worth approximately $68,000. Sunbelt Securities Inc. boosted its holdings in shares of AST SpaceMobile by 3,380.0% in the 3rd quarter. Sunbelt Securities Inc. now owns 3,480 shares of the company’s stock valued at $91,000 after buying an additional 3,380 shares in the last quarter. Finally, KBC Group NV purchased a new position in shares of AST SpaceMobile in the 3rd quarter valued at $104,000. 60.95% of the stock is owned by hedge funds and other 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.