AST SpaceMobile (NASDAQ:ASTS) Stock Price Down 2.5% – Time to Sell?

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s share price fell 2.5% during mid-day trading on Tuesday . The company traded as low as $87.35 and last traded at $87.53. 11,383,163 shares traded hands during trading, a decline of 28% from the average session volume of 15,781,987 shares. The stock had previously closed at $89.76.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Zacks Research upgraded shares of AST SpaceMobile from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Weiss Ratings restated a “sell (d-)” rating on shares of AST SpaceMobile in a report on Monday, December 29th. B. Riley Financial cut their price target on AST SpaceMobile from $105.00 to $95.00 and set a “neutral” rating for the company in a report on Friday, February 13th. Scotiabank lowered AST SpaceMobile from a “sector perform” rating to a “sector underperform” rating and set a $45.60 price objective on the stock. in a research note on Wednesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of AST SpaceMobile in a research note on Tuesday, January 20th. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $63.77.

AST SpaceMobile Stock Performance

The company has a debt-to-equity ratio of 0.92, a current ratio of 16.35 and a quick ratio of 16.27. The company has a market cap of $32.53 billion, a price-to-earnings ratio of -66.99 and a beta of 2.77. The firm has a 50 day simple moving average of $96.00 and a 200-day simple moving average of $75.03.

AST SpaceMobile (NASDAQ:ASTS) last released its quarterly earnings results on Monday, March 2nd. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.08). The business had revenue of $54.31 million for the quarter, compared to analysts’ expectations of $39.53 million. AST SpaceMobile had a negative return on equity of 23.02% and a negative net margin of 482.16%.The company’s revenue was up 2731.3% on a year-over-year basis. As a group, 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 purchased 625 shares of the company’s stock in a transaction on Wednesday, December 24th. The stock was acquired at an average cost of $80.00 per share, for a total transaction of $50,000.00. Following the completion of the transaction, the director directly owned 2,015 shares in the company, valued at approximately $161,200. The trade was a 44.96% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 30.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AST SpaceMobile

A number of hedge funds have recently made changes to their positions in ASTS. REAP Financial Group LLC purchased a new stake in AST SpaceMobile in the third quarter valued at approximately $25,000. Crewe Advisors LLC acquired a new stake in shares of AST SpaceMobile in the fourth quarter valued at $25,000. Laurel Wealth Advisors LLC acquired a new position in AST SpaceMobile during the 4th quarter worth $25,000. Atlantic Union Bankshares Corp purchased a new stake in AST SpaceMobile during the 2nd quarter worth about $28,000. Finally, Byrne Asset Management LLC acquired a new stake in AST SpaceMobile in the 4th quarter valued at about $29,000. Hedge funds and other 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.