AST SpaceMobile (NASDAQ:ASTS) Trading Down 2.4% – Here’s Why

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) traded down 2.4% during mid-day trading on Friday . The stock traded as low as $111.25 and last traded at $113.57. 11,491,312 shares traded hands during trading, a decline of 39% from the average session volume of 18,986,977 shares. The stock had previously closed at $116.37.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Barclays lowered AST SpaceMobile from an “overweight” rating to an “underweight” rating and set a $60.00 target price for the company. in a report on Friday, October 17th. B. Riley lowered AST SpaceMobile from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 13th. Zacks Research downgraded AST SpaceMobile from a “hold” rating to a “strong sell” rating in a research report on Friday, January 9th. Scotiabank lowered 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. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of AST SpaceMobile in a research report on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $45.66.

AST SpaceMobile Stock Performance

The company has a market capitalization of $41.68 billion, a PE ratio of -91.59 and a beta of 2.70. The company has a quick ratio of 9.48, a current ratio of 9.56 and a debt-to-equity ratio of 0.43. The business has a 50 day simple moving average of $76.93 and a 200 day simple moving average of $64.35.

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

Insider Buying and Selling at AST SpaceMobile

In related news, Director Keith R. Larson acquired 625 shares of the company’s stock in a transaction dated Wednesday, December 24th. The shares were purchased at an average cost of $80.00 per share, with a total value of $50,000.00. Following the completion of the acquisition, the director directly owned 2,015 shares of the company’s stock, valued at $161,200. This represents a 44.96% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Huiwen Yao sold 40,000 shares of the firm’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $73.52, for a total value of $2,940,800.00. Following the completion of the transaction, the chief technology officer owned 4,750 shares of the company’s stock, valued at $349,220. This trade represents a 89.39% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders acquired 2,765 shares of company stock valued at $187,236 and sold 2,354,621 shares valued at $164,348,075. 30.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ASTS. REAP Financial Group LLC acquired a new stake in AST SpaceMobile during the 3rd quarter worth about $25,000. Crewe Advisors LLC acquired a new stake in shares of AST SpaceMobile during the 4th quarter worth approximately $25,000. Atlantic Union Bankshares Corp acquired a new position in shares of AST SpaceMobile in the 2nd quarter valued at $28,000. Byrne Asset Management LLC acquired a new stake in AST SpaceMobile during the fourth quarter valued at $29,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of AST SpaceMobile in the third quarter worth about $29,000. Hedge funds and other 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.