AST SpaceMobile (NASDAQ:ASTS) Stock Price Down 0.4% – What’s Next?

AST SpaceMobile, Inc. (NASDAQ:ASTS) was down 0.4% during mid-day trading on Thursday . The company traded as low as $23.06 and last traded at $23.29. Approximately 6,944,095 shares traded hands during trading, a decline of 35% from the average daily volume of 10,634,587 shares. The stock had previously closed at $23.39.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. B. Riley upped their price objective on AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Scotiabank dropped their target price on AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating on the stock in a report on Friday, November 15th. UBS Group increased their price target on AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of AST SpaceMobile from $22.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th.

AST SpaceMobile Price Performance

The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31. The stock has a fifty day simple moving average of $25.17 and a two-hundred day simple moving average of $19.61. The company has a market cap of $6.75 billion, a PE ratio of -10.99 and a beta of 1.64.

Insider Activity

In other news, Director Adriana Cisneros bought 4,934 shares of the stock in a transaction on Friday, September 6th. The shares were bought at an average price of $26.32 per share, with a total value of $129,862.88. Following the completion of the acquisition, the director now owns 774,772 shares of the company’s stock, valued at approximately $20,391,999.04. This trade represents a 0.64 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Shanti B. Gupta sold 80,000 shares of the firm’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $25.83, for a total value of $2,066,400.00. Following the completion of the transaction, the chief operating officer now owns 393,232 shares of the company’s stock, valued at approximately $10,157,182.56. This represents a 16.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 127,700 shares of company stock valued at $3,220,524 in the last three months. 41.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AST SpaceMobile

A number of large investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC raised its position in AST SpaceMobile by 209.9% during the first quarter. Janus Henderson Group PLC now owns 7,450,467 shares of the company’s stock worth $21,606,000 after acquiring an additional 5,046,667 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of AST SpaceMobile by 49.9% during the 1st quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company’s stock worth $19,325,000 after purchasing an additional 2,217,531 shares in the last quarter. Privium Fund Management B.V. acquired a new position in shares of AST SpaceMobile during the 3rd quarter worth approximately $21,476,000. Oppenheimer & Co. Inc. purchased a new stake in AST SpaceMobile in the 2nd quarter valued at approximately $9,270,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in AST SpaceMobile by 228.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,131,705 shares of the company’s stock valued at $29,594,000 after buying an additional 787,566 shares during the last quarter. 60.95% of the stock is owned by institutional investors and hedge funds.

About AST SpaceMobile

AST SpaceMobile, Inc, together with its subsidiaries, develops and provides access to a space-based cellular broadband network for smartphones in the United States. Its SpaceMobile service provides cellular broadband services to end-users who are out of terrestrial cellular coverage. The company was founded in 2017 and is headquartered in Midland, Texas.