AST SpaceMobile (NASDAQ:ASTS) Stock Price Down 6.2% – Should You Sell?

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s stock price traded down 6.2% on Monday . The company traded as low as $71.85 and last traded at $73.82. 13,337,517 shares changed hands during mid-day trading, a decline of 10% from the average session volume of 14,893,202 shares. The stock had previously closed at $78.67.

Analyst Ratings Changes

A number of brokerages have commented on ASTS. Zacks Research upgraded shares of AST SpaceMobile from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. UBS Group boosted their price objective on shares of AST SpaceMobile from $43.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday, March 4th. B. Riley Financial reduced their target price on shares of AST SpaceMobile from $105.00 to $95.00 and set a “neutral” rating on the stock in a report on Friday, February 13th. Scotiabank cut 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. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of AST SpaceMobile in a research note on Tuesday, January 20th. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $63.77.

AST SpaceMobile Trading Down 6.2%

The firm has a 50-day moving average of $94.98 and a 200-day moving average of $78.95. The company has a debt-to-equity ratio of 0.92, a quick ratio of 16.27 and a current ratio of 16.35. The firm has a market capitalization of $28.20 billion, a P/E ratio of -55.92 and a beta of 2.77.

AST SpaceMobile (NASDAQ:ASTS) last announced its quarterly earnings data on Monday, March 2nd. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.08). The company had revenue of $54.31 million during the quarter, compared to the consensus estimate of $39.53 million. AST SpaceMobile had a negative net margin of 482.16% and a negative return on equity of 23.02%. The company’s quarterly revenue was up 2731.3% compared to the same quarter last year. On average, equities research analysts anticipate that AST SpaceMobile, Inc. will post -0.4 EPS for the current fiscal year.

Insider Activity at AST SpaceMobile

In related news, CTO Huiwen Yao sold 40,000 shares of the company’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $88.88, for a total transaction of $3,555,200.00. Following the completion of the sale, the chief technology officer directly owned 4,750 shares in the company, valued at $422,180. This represents a 89.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 30.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AST SpaceMobile

A number of large investors have recently added to or reduced their stakes in ASTS. Vodafone Ventures Ltd purchased a new position in AST SpaceMobile during the 4th quarter valued at about $397,413,000. Norges Bank purchased a new stake in AST SpaceMobile in the 4th quarter worth approximately $198,270,000. Vanguard Group Inc. lifted its holdings in AST SpaceMobile by 13.4% in the 3rd quarter. Vanguard Group Inc. now owns 19,919,888 shares of the company’s stock worth $977,668,000 after buying an additional 2,351,539 shares during the period. Clear Street Group Inc. bought a new stake in shares of AST SpaceMobile in the 3rd quarter worth approximately $90,129,000. Finally, Morgan Stanley grew its position in shares of AST SpaceMobile by 44.0% in the 4th quarter. Morgan Stanley now owns 4,661,551 shares of the company’s stock worth $338,569,000 after buying an additional 1,425,199 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.