AST SpaceMobile (NASDAQ:ASTS) Trading Down 1.6% – Time to Sell?

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s stock price dropped 1.6% during mid-day trading on Monday . The stock traded as low as $90.81 and last traded at $92.06. Approximately 13,589,596 shares traded hands during trading, a decline of 23% from the average daily volume of 17,706,592 shares. The stock had previously closed at $93.60.

Analysts Set New Price Targets

ASTS has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft lowered AST SpaceMobile from a “buy” rating to a “hold” rating and dropped their target price for the company from $117.00 to $106.00 in a research report on Friday, May 29th. William Blair restated a “market perform” rating on shares of AST SpaceMobile in a research report on Friday, May 29th. Wall Street Zen lowered AST SpaceMobile from a “sell” rating to a “strong sell” rating in a research report on Wednesday, April 15th. Roth Mkm restated a “buy” rating and set a $108.00 target price on shares of AST SpaceMobile in a research report on Tuesday, May 12th. Finally, Barclays boosted their price target on AST SpaceMobile from $60.00 to $65.00 and gave the company an “underweight” rating in a report on Thursday, April 9th. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $81.33.

AST SpaceMobile Stock Down 1.6%

The company has a debt-to-equity ratio of 1.11, a current ratio of 18.47 and a quick ratio of 18.37. The stock has a market cap of $35.73 billion, a PE ratio of -51.72 and a beta of 2.70. The business has a fifty day moving average of $89.60 and a 200-day moving average of $86.92.

AST SpaceMobile (NASDAQ:ASTS) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.66) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.43). The business had revenue of $14.74 million during the quarter, compared to the consensus estimate of $39.01 million. AST SpaceMobile had a negative return on equity of 24.87% and a negative net margin of 573.67%.The business’s quarterly revenue was up 1952.2% on a year-over-year basis. During the same period last year, the firm earned ($0.20) EPS. Equities research analysts anticipate that AST SpaceMobile, Inc. will post -1.47 earnings per share for the current year.

Insider Buying and Selling at AST SpaceMobile

In related news, major shareholder Hiroshi Mikitani sold 1,690,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $91.42, for a total value of $154,499,800.00. Following the completion of the transaction, the insider owned 29,330,155 shares of the company’s stock, valued at $2,681,362,770.10. The trade was a 5.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Huiwen Yao sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $88.88, for a total transaction of $3,555,200.00. Following the completion of the transaction, the chief technology officer directly owned 4,750 shares of the company’s stock, valued at $422,180. This trade represents a 89.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 3,100,000 shares of company stock worth $276,048,350. 20.89% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AST SpaceMobile

Large investors have recently bought and sold shares of the business. Cornerstone Planning Group LLC raised its stake in AST SpaceMobile by 16,350.0% in the first quarter. Cornerstone Planning Group LLC now owns 329 shares of the company’s stock worth $27,000 after buying an additional 327 shares in the last quarter. Crewe Advisors LLC bought a new position in AST SpaceMobile in the fourth quarter worth approximately $25,000. Laurel Wealth Advisors LLC bought a new position in AST SpaceMobile in the fourth quarter worth approximately $25,000. Portus Wealth Advisors LLC bought a new position in AST SpaceMobile in the first quarter worth approximately $30,000. Finally, Advocate Investing Services LLC acquired a new position in shares of AST SpaceMobile during the first quarter worth $31,000. Institutional investors own 60.95% of the company’s stock.

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.