AST SpaceMobile (NASDAQ:ASTS) Stock Price Down 0.7% – Should You Sell?

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) were down 0.7% on Tuesday . The stock traded as low as $21.42 and last traded at $21.66. Approximately 1,283,670 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 10,290,994 shares. The stock had previously closed at $21.81.

Analyst Ratings Changes

Several research firms recently commented on ASTS. Deutsche Bank Aktiengesellschaft raised their target price on AST SpaceMobile from $22.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Scotiabank cut their price objective on AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating for the company in a report on Friday, November 15th. Finally, UBS Group upped their target price on shares of AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, November 15th.

AST SpaceMobile Price Performance

The stock has a fifty day moving average of $24.21 and a two-hundred day moving average of $22.49. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $6.19 billion, a price-to-earnings ratio of -10.08 and a beta of 1.60.

Insider Activity

In other news, CTO Huiwen Yao sold 45,000 shares of the stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $24.26, for a total transaction of $1,091,700.00. Following the sale, the chief technology officer now directly owns 55,000 shares of the company’s stock, valued at $1,334,300. This represents a 45.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 41.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Fairfield Financial Advisors LTD acquired a new stake in shares of AST SpaceMobile in the 3rd quarter valued at $26,000. Hollencrest Capital Management acquired a new stake in AST SpaceMobile in the third quarter worth about $26,000. Rakuten Securities Inc. bought a new stake in AST SpaceMobile during the 3rd quarter worth about $68,000. Sunbelt Securities Inc. lifted its position in AST SpaceMobile by 3,380.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 3,480 shares of the company’s stock valued at $91,000 after purchasing an additional 3,380 shares during the period. Finally, KBC Group NV bought a new position in shares of AST SpaceMobile in the 3rd quarter valued at about $104,000. Institutional investors and hedge funds own 60.95% of the company’s stock.

About AST SpaceMobile

AST SpaceMobile, Inc, together with its subsidiaries, develops and provides access to a space-based cellular broadband network for smartphones in the United States. Its SpaceMobile service provides cellular broadband services to end-users who are out of terrestrial cellular coverage. The company was founded in 2017 and is headquartered in Midland, Texas.