AST SpaceMobile (NASDAQ:ASTS) Shares Down 5.7% – Time to Sell?

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) dropped 5.7% during trading on Tuesday . The stock traded as low as $95.70 and last traded at $96.27. Approximately 10,146,600 shares changed hands during mid-day trading, a decline of 41% from the average daily volume of 17,088,549 shares. The stock had previously closed at $102.12.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ASTS. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of AST SpaceMobile in a research note on Tuesday, January 20th. Scotiabank downgraded AST SpaceMobile from a “sector perform” rating to a “sector underperform” rating and set a $45.60 price objective on the stock. in a research note on Wednesday, January 7th. Barclays cut AST SpaceMobile from an “overweight” rating to an “underweight” rating and set a $60.00 target price for the company. in a research note on Friday, October 17th. B. Riley Financial lowered AST SpaceMobile from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 13th. Finally, Zacks Research downgraded shares of AST SpaceMobile from a “hold” rating to a “strong sell” rating in a research report on Friday, January 9th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $45.66.

AST SpaceMobile Price Performance

The business has a 50-day moving average of $89.70 and a 200 day moving average of $69.36. The company has a current ratio of 9.56, a quick ratio of 9.48 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $35.36 billion, a P/E ratio of -77.68 and a beta of 2.70.

AST SpaceMobile (NASDAQ:ASTS) last announced its quarterly earnings data on Monday, November 10th. The company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.27). AST SpaceMobile had a negative net margin of 1,639.59% and a negative return on equity of 27.76%. The firm had revenue of $14.74 million during the quarter, compared to analyst estimates of $22.04 million. During the same period last year, the business posted ($1.10) EPS. The company’s revenue was up 1236.4% on a year-over-year basis. On average, sell-side analysts predict that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current fiscal year.

Insider Activity

In other AST SpaceMobile news, CTO Huiwen Yao sold 40,000 shares of the firm’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $73.52, for a total value of $2,940,800.00. Following the transaction, the chief technology officer directly owned 4,750 shares of the company’s stock, valued at approximately $349,220. This trade represents a 89.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Shanti B. Gupta sold 10,000 shares of the business’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $77.34, for a total transaction of $773,400.00. Following the sale, the chief operating officer directly owned 382,375 shares of the company’s stock, valued at approximately $29,572,882.50. The trade was a 2.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have acquired 2,765 shares of company stock valued at $187,236 and have sold 2,354,621 shares valued at $164,348,075. Corporate insiders own 30.90% of the company’s stock.

Institutional Investors Weigh In On AST SpaceMobile

Several institutional investors have recently bought and sold shares of the stock. Calton & Associates Inc. raised its stake in AST SpaceMobile by 0.8% in the 4th quarter. Calton & Associates Inc. now owns 13,579 shares of the company’s stock valued at $986,000 after acquiring an additional 104 shares during the period. Investmark Advisory Group LLC increased its stake in AST SpaceMobile by 2.7% in the 4th quarter. Investmark Advisory Group LLC now owns 4,645 shares of the company’s stock worth $337,000 after acquiring an additional 120 shares during the last quarter. ORG Partners LLC raised its holdings in shares of AST SpaceMobile by 4.2% in the 4th quarter. ORG Partners LLC now owns 3,283 shares of the company’s stock valued at $238,000 after acquiring an additional 133 shares in the last quarter. Atlantic Union Bankshares Corp boosted its position in shares of AST SpaceMobile by 18.2% during the 4th quarter. Atlantic Union Bankshares Corp now owns 923 shares of the company’s stock valued at $67,000 after acquiring an additional 142 shares during the last quarter. Finally, Larson Financial Group LLC grew its holdings in shares of AST SpaceMobile by 39.0% during the fourth quarter. Larson Financial Group LLC now owns 513 shares of the company’s stock worth $37,000 after purchasing an additional 144 shares in the last quarter. Institutional investors own 60.95% of the company’s stock.

AST SpaceMobile Company Profile

AST SpaceMobile is a U.S.-based aerospace company developing a space-based cellular broadband network designed to connect standard mobile phones and other devices directly to satellites. The company’s core proposition is “space-to-cell” service: operating a constellation of low-Earth-orbit (LEO) satellites equipped with large, high-power phased-array antennas to provide wide-area mobile broadband without requiring users to buy specialized terminals or handset modifications.

AST SpaceMobile designs, builds and operates satellite payloads and supporting ground infrastructure.