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

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) dropped 1.6% on Tuesday . The company traded as low as $82.85 and last traded at $86.98. Approximately 10,036,963 shares were traded during trading, a decline of 33% from the average daily volume of 14,892,915 shares. The stock had previously closed at $88.42.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. UBS Group boosted their price objective on shares of AST SpaceMobile from $43.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, March 4th. 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. Weiss Ratings reissued a “sell (d-)” rating on shares of AST SpaceMobile in a report on Monday, December 29th. 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, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of AST SpaceMobile in a report on Tuesday, January 20th. Two 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 MarketBeat, AST SpaceMobile currently has an average rating of “Reduce” and a consensus price target of $63.77.

AST SpaceMobile Stock Down 1.6%

The company has a debt-to-equity ratio of 0.92, a current ratio of 16.35 and a quick ratio of 16.27. The company has a market cap of $33.23 billion, a PE ratio of -65.89 and a beta of 2.78. The company has a fifty day moving average price of $96.09 and a 200 day moving average price of $77.60.

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). AST SpaceMobile had a negative return on equity of 23.02% and a negative net margin of 482.16%.The company had revenue of $54.31 million during the quarter, compared to the consensus estimate of $39.53 million. The business’s revenue for the quarter was up 2731.3% compared to the same quarter last year. As a group, analysts anticipate that AST SpaceMobile, Inc. will post -0.4 EPS for the current year.

Insider Activity at AST SpaceMobile

In related news, Director Keith R. Larson acquired 625 shares of the stock in a transaction dated Wednesday, December 24th. The shares were purchased at an average price of $80.00 per share, for a total transaction of $50,000.00. Following the transaction, the director owned 2,015 shares in the company, valued at $161,200. This represents a 44.96% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 30.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Crewe Advisors LLC bought a new position in shares of AST SpaceMobile during the 4th quarter valued at about $25,000. Laurel Wealth Advisors LLC purchased a new position in shares of AST SpaceMobile during the fourth quarter worth approximately $25,000. Byrne Asset Management LLC bought a new stake in shares of AST SpaceMobile in the 4th quarter worth approximately $29,000. Acumen Wealth Advisors LLC purchased a new stake in shares of AST SpaceMobile in the 4th quarter valued at $29,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of AST SpaceMobile during the 4th quarter valued at $33,000. 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.