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

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) dropped 1.6% during mid-day trading on Wednesday . The company traded as low as $87.12 and last traded at $87.32. Approximately 15,504,878 shares were traded during trading, a decline of 13% from the average daily volume of 17,772,064 shares. The stock had previously closed at $88.71.

Key AST SpaceMobile News

Here are the key news stories impacting AST SpaceMobile this week:

• Positive Sentiment: AST SpaceMobile’s confirmed June 17 launch of BlueBird 8, 9, and 10 is a key catalyst, as investors see progress toward scaling its direct-to-smartphone satellite broadband network and meeting 2026 deployment goals. Article: Can AST SpaceMobile’s Upcoming Satellite Launch Advance Connectivity?
• Positive Sentiment: Some investors are still bullish on the long-term opportunity, with commentary suggesting ASTS could benefit if SpaceX/Starlink-related hype lifts interest across space stocks, and that ASTS may have a differentiated position in the satellite connectivity market. Article: The SpaceX IPO Is Closer Than You Think. These Are the Stocks That Win When It Happens.

Analyst Upgrades and Downgrades

ASTS has been the topic of a number of recent research reports. B. Riley Financial upped their price objective on AST SpaceMobile from $75.00 to $85.00 and gave the company a “neutral” rating in a research report on Tuesday, May 12th. UBS Group decreased their price objective on AST SpaceMobile from $85.00 to $80.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 12th. Barclays upped their price objective on AST SpaceMobile from $60.00 to $65.00 and gave the company an “underweight” rating in a research report on Thursday, April 9th. Zacks Research upgraded AST SpaceMobile from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Finally, Wall Street Zen downgraded AST SpaceMobile from a “sell” rating to a “strong sell” rating in a research report on Wednesday, April 15th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $81.33.

AST SpaceMobile Stock Performance

The stock has a market cap of $33.91 billion, a P/E ratio of -49.09 and a beta of 2.70. The business has a 50 day moving average price of $89.89 and a 200 day moving average price of $87.38. The company has a quick ratio of 18.37, a current ratio of 18.47 and a debt-to-equity ratio of 1.11.

AST SpaceMobile (NASDAQ:ASTS) last released its earnings results on Monday, May 11th. The company reported ($0.66) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.43). The business had revenue of $14.74 million for the quarter, compared to the consensus estimate of $39.01 million. AST SpaceMobile had a negative net margin of 573.67% and a negative return on equity of 24.87%. The company’s quarterly revenue was up 1952.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.20) EPS. As a group, sell-side analysts expect that AST SpaceMobile, Inc. will post -1.47 EPS for the current year.

Insider Transactions at AST SpaceMobile

In related news, major shareholder Hiroshi Mikitani sold 1,690,000 shares of the stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $91.42, for a total value of $154,499,800.00. Following the transaction, the insider owned 29,330,155 shares of the company’s stock, valued at $2,681,362,770.10. This represents a 5.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Andrew Martin Johnson sold 5,000 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $90.25, for a total value of $451,250.00. Following the completion of the transaction, the chief financial officer directly owned 565,805 shares in the company, valued at approximately $51,063,901.25. This trade represents a 0.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 3,140,000 shares of company stock worth $279,903,150 in the last ninety days. 20.89% of the stock is owned by company insiders.

Institutional Trading of AST SpaceMobile

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Calton & Associates Inc. boosted its position in AST SpaceMobile by 0.8% during the 4th quarter. Calton & Associates Inc. now owns 13,579 shares of the company’s stock valued at $986,000 after acquiring an additional 104 shares in the last quarter. Investmark Advisory Group LLC lifted its holdings in shares of AST SpaceMobile by 2.7% during the 4th quarter. Investmark Advisory Group LLC now owns 4,645 shares of the company’s stock valued at $337,000 after purchasing an additional 120 shares during the last quarter. ORG Partners LLC lifted its holdings in shares of AST SpaceMobile by 4.2% during the 4th quarter. ORG Partners LLC now owns 3,283 shares of the company’s stock valued at $238,000 after purchasing an additional 133 shares during the last quarter. Atlantic Union Bankshares Corp lifted its holdings in shares of AST SpaceMobile by 18.2% during the 4th quarter. Atlantic Union Bankshares Corp now owns 923 shares of the company’s stock valued at $67,000 after purchasing an additional 142 shares during the last quarter. Finally, Larson Financial Group LLC lifted its holdings in shares of AST SpaceMobile by 39.0% during the 4th quarter. Larson Financial Group LLC now owns 513 shares of the company’s stock valued at $37,000 after purchasing an additional 144 shares during the last quarter. Institutional investors own 60.95% of the company’s stock.

AST SpaceMobile Company Profile

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.