AST SpaceMobile (NASDAQ:ASTS) Shares Down 1.1% – What’s Next?

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s stock price traded down 1.1% during mid-day trading on Thursday . The stock traded as low as $81.85 and last traded at $85.13. Approximately 15,744,509 shares traded hands during mid-day trading, a decline of 16% from the average session volume of 18,792,371 shares. The stock had previously closed at $86.10.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ASTS shares. William Blair reiterated a “market perform” rating on shares of AST SpaceMobile in a report on Friday, May 29th. B. Riley Financial raised 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. Deutsche Bank Aktiengesellschaft downgraded AST SpaceMobile from a “buy” rating to a “hold” rating and reduced their target price for the stock from $117.00 to $106.00 in a research note on Friday, May 29th. Zacks Research upgraded AST SpaceMobile from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AST SpaceMobile in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, AST SpaceMobile currently has a consensus rating of “Reduce” and an average price target of $85.09.

AST SpaceMobile Stock Performance

The company has a fifty day moving average of $87.26 and a two-hundred day moving average of $89.41. The firm has a market capitalization of $33.04 billion, a price-to-earnings ratio of -47.83 and a beta of 2.69. The company has a debt-to-equity ratio of 1.11, a quick ratio of 18.37 and a current ratio of 18.47.

AST SpaceMobile (NASDAQ:ASTS) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.66) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.43). AST SpaceMobile had a negative return on equity of 24.87% and a negative net margin of 573.67%.The firm had revenue of $14.73 million for the quarter, compared to the consensus estimate of $39.01 million. During the same quarter in the previous year, the business earned ($0.20) EPS. The firm’s quarterly revenue was up 1952.2% on a year-over-year basis. As a group, equities research analysts predict that AST SpaceMobile, Inc. will post -1.47 earnings per share for the current fiscal year.

Insider Buying and Selling at AST SpaceMobile

In other AST SpaceMobile news, major shareholder Hiroshi Mikitani sold 1,350,000 shares of AST SpaceMobile stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $86.22, for a total value of $116,397,000.00. Following the completion of the sale, the insider owned 27,980,155 shares in the company, valued at $2,412,448,964.10. The trade was a 4.60% decrease in their position. 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 45,809 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $93.81, for a total transaction of $4,297,342.29. Following the completion of the sale, the chief financial officer directly owned 503,619 shares of the company’s stock, valued at $47,244,498.39. This represents a 8.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 3,145,809 shares of company stock worth $280,645,292 over the last quarter. Company insiders own 20.89% of the company’s stock.

Institutional Investors Weigh In On AST SpaceMobile

A number of large investors have recently added to or reduced their stakes in ASTS. Crewe Advisors LLC bought a new position in AST SpaceMobile during the 4th quarter worth $25,000. Laurel Wealth Advisors LLC bought a new stake in shares of AST SpaceMobile during the 4th quarter valued at $25,000. Cornerstone Planning Group LLC lifted its position in shares of AST SpaceMobile by 16,350.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 329 shares of the company’s stock valued at $27,000 after acquiring an additional 327 shares during the period. Byrne Asset Management LLC acquired a new stake in shares of AST SpaceMobile during the 4th quarter worth $29,000. Finally, Acumen Wealth Advisors LLC acquired a new stake in shares of AST SpaceMobile during the 4th quarter worth $29,000. Institutional investors and hedge funds 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.