AST SpaceMobile (NASDAQ:ASTS) Shares Down 0.7% – Here’s Why

AST SpaceMobile, Inc. (NASDAQ:ASTSGet Free Report)’s share price fell 0.7% during mid-day trading on Tuesday . The company traded as low as $21.42 and last traded at $21.66. 1,283,670 shares were traded during mid-day trading, a decline of 88% from the average session volume of 10,290,994 shares. The stock had previously closed at $21.81.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ASTS shares. Deutsche Bank Aktiengesellschaft boosted 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. Scotiabank cut their price objective on AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating on the stock in a research report on Friday, November 15th. Finally, UBS Group upped their target price on AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a report on Friday, November 15th.

Read Our Latest Analysis on AST SpaceMobile

AST SpaceMobile Stock Performance

The firm has a market capitalization of $6.11 billion, a P/E ratio of -9.95 and a beta of 1.60. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80. The company has a 50-day simple moving average of $23.97 and a two-hundred day simple moving average of $22.56.

Insider Buying and Selling

In other AST SpaceMobile news, CTO Huiwen Yao sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $24.26, for a total transaction of $1,091,700.00. Following the completion of the transaction, the chief technology officer now owns 55,000 shares of the company’s stock, valued at approximately $1,334,300. This trade represents a 45.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 41.80% of the stock is owned by insiders.

Institutional Trading of AST SpaceMobile

Hedge funds have recently made changes to their positions in the stock. Fairfield Financial Advisors LTD bought a new position in AST SpaceMobile in the 3rd quarter worth about $26,000. Hollencrest Capital Management purchased a new position in AST SpaceMobile in the third quarter worth about $26,000. Rakuten Securities Inc. bought a new position in shares of AST SpaceMobile in the third quarter worth approximately $68,000. Sunbelt Securities Inc. grew its holdings in shares of AST SpaceMobile by 3,380.0% during the third quarter. Sunbelt Securities Inc. now owns 3,480 shares of the company’s stock valued at $91,000 after buying an additional 3,380 shares during the last quarter. Finally, KBC Group NV bought a new stake in shares of AST SpaceMobile during the third quarter valued at approximately $104,000. 60.95% of the stock is owned by institutional investors.

AST SpaceMobile Company Profile

(Get Free Report)

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.

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