AST SpaceMobile (NASDAQ:ASTS) Trading Down 4% – Time to Sell?

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) fell 4% during mid-day trading on Wednesday . The company traded as low as $82.32 and last traded at $82.36. 7,433,237 shares were traded during trading, a decline of 53% from the average session volume of 15,808,822 shares. The stock had previously closed at $85.82.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ASTS. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of AST SpaceMobile in a report on Tuesday, January 20th. Scotiabank lowered 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 report on Wednesday, January 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AST SpaceMobile in a research note on Monday, December 29th. Zacks Research downgraded shares of AST SpaceMobile from a “hold” rating to a “strong sell” rating in a report on Friday, January 9th. Finally, B. Riley Financial reduced their price objective on shares of AST SpaceMobile from $105.00 to $95.00 and set a “neutral” rating for the company in a research note on Friday, February 13th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $52.94.

AST SpaceMobile Stock Down 7.7%

The company has a current ratio of 9.56, a quick ratio of 9.48 and a debt-to-equity ratio of 0.43. The firm has a 50 day moving average price of $93.69 and a 200-day moving average price of $72.38. The firm has a market cap of $29.06 billion, a price-to-earnings ratio of -63.86 and a beta of 2.70.

Insider Buying and Selling

In related news, CTO Huiwen Yao sold 40,000 shares of AST SpaceMobile stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $73.52, for a total transaction of $2,940,800.00. Following the completion of the transaction, the chief technology officer directly owned 4,750 shares in the company, valued at $349,220. The trade was a 89.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Keith R. Larson bought 625 shares of the stock in a transaction on Wednesday, December 24th. The shares were bought at an average price of $80.00 per share, for a total transaction of $50,000.00. Following the acquisition, the director owned 2,015 shares in the company, valued at $161,200. The trade was a 44.96% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have bought 2,015 shares of company stock valued at $149,144 and have sold 2,344,621 shares valued at $163,788,075. 30.90% of the stock is currently owned by company insiders.

Institutional Trading of AST SpaceMobile

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. REAP Financial Group LLC acquired a new stake in shares of AST SpaceMobile during the 3rd quarter worth about $25,000. Crewe Advisors LLC purchased a new position in shares of AST SpaceMobile during the fourth quarter valued at approximately $25,000. Laurel Wealth Advisors LLC acquired a new stake in AST SpaceMobile during the fourth quarter worth approximately $25,000. Atlantic Union Bankshares Corp purchased a new stake in AST SpaceMobile in the 2nd quarter worth approximately $28,000. Finally, Byrne Asset Management LLC acquired a new position in AST SpaceMobile in the 4th quarter valued at $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.