AST SpaceMobile (NASDAQ:ASTS) Stock Price Down 6.2% – Should You Sell?

AST SpaceMobile, Inc. (NASDAQ:ASTS) shares dropped 6.2% on Monday . The stock traded as low as $71.85 and last traded at $73.82. Approximately 13,337,517 shares changed hands during trading, a decline of 10% from the average daily volume of 14,893,202 shares. The stock had previously closed at $78.67.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of AST SpaceMobile in a research report on Tuesday, January 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AST SpaceMobile in a report on Friday. Scotiabank cut shares of AST SpaceMobile from a “sector perform” rating to a “sector underperform” rating and set a $45.60 target price on the stock. in a research note on Wednesday, January 7th. B. Riley Financial reduced their price target on shares of AST SpaceMobile from $105.00 to $95.00 and set a “neutral” rating for the company in a research report on Friday, February 13th. Finally, Zacks Research raised shares of AST SpaceMobile from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. Two equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, AST SpaceMobile presently has a consensus rating of “Reduce” and an average target price of $63.77.

AST SpaceMobile Trading Down 6.2%

The stock has a market cap of $28.20 billion, a P/E ratio of -55.92 and a beta of 2.77. The company has a debt-to-equity ratio of 0.92, a quick ratio of 16.27 and a current ratio of 16.35. The stock has a 50-day moving average price of $94.98 and a 200-day moving average price of $78.95.

AST SpaceMobile (NASDAQ:ASTS) last posted its quarterly earnings data on Monday, March 2nd. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.08). The company had revenue of $54.31 million during the quarter, compared to the consensus estimate of $39.53 million. AST SpaceMobile had a negative return on equity of 23.02% and a negative net margin of 482.16%.The business’s revenue for the quarter was up 2731.3% compared to the same quarter last year. On average, equities research analysts expect that AST SpaceMobile, Inc. will post -0.4 EPS for the current year.

Insider Buying and Selling

In other news, CTO Huiwen Yao sold 40,000 shares of the stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $88.88, for a total value of $3,555,200.00. Following the transaction, the chief technology officer owned 4,750 shares of the company’s stock, valued at $422,180. This represents a 89.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 30.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Crewe Advisors LLC purchased a new stake in AST SpaceMobile during the fourth quarter valued at about $25,000. Laurel Wealth Advisors LLC purchased a new position in shares of AST SpaceMobile in the 4th quarter worth about $25,000. Byrne Asset Management LLC purchased a new position in shares of AST SpaceMobile in the 4th quarter worth about $29,000. Acumen Wealth Advisors LLC bought a new position in shares of AST SpaceMobile during the 4th quarter valued at about $29,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of AST SpaceMobile during the 4th quarter valued at about $33,000. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

About AST SpaceMobile

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.