AST SpaceMobile (NASDAQ:ASTS) Stock Price Down 2.8%

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) traded down 2.8% during trading on Tuesday . The stock traded as low as $25.75 and last traded at $25.86. 1,900,277 shares traded hands during trading, a decline of 82% from the average session volume of 10,493,173 shares. The stock had previously closed at $26.61.

Wall Street Analyst Weigh In

ASTS has been the topic of a number of research reports. UBS Group boosted their target price on shares of AST SpaceMobile from $13.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. B. Riley increased their price objective on shares of AST SpaceMobile from $26.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Scotiabank boosted their target price on AST SpaceMobile from $28.00 to $45.90 and gave the company a “sector outperform” rating in a research report on Monday, August 26th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on AST SpaceMobile from $22.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th.

AST SpaceMobile Trading Down 3.0 %

The company has a market capitalization of $6.64 billion, a P/E ratio of -26.39 and a beta of 1.63. The company has a quick ratio of 6.38, a current ratio of 6.38 and a debt-to-equity ratio of 0.83. The firm’s 50-day moving average price is $24.54 and its 200 day moving average price is $12.33.

AST SpaceMobile (NASDAQ:ASTS) last posted its earnings results on Wednesday, August 14th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.05. The company had revenue of $0.90 million during the quarter, compared to the consensus estimate of $2.00 million. As a group, equities research analysts predict that AST SpaceMobile, Inc. will post -0.88 earnings per share for the current year.

Insider Activity

In other news, Director Adriana Cisneros acquired 4,934 shares of AST SpaceMobile stock in a transaction on Friday, September 6th. The stock was acquired at an average cost of $26.32 per share, with a total value of $129,862.88. Following the transaction, the director now owns 774,772 shares of the company’s stock, valued at approximately $20,391,999.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 56.56% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AST SpaceMobile

Several institutional investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC grew its holdings in AST SpaceMobile by 209.9% during the first quarter. Janus Henderson Group PLC now owns 7,450,467 shares of the company’s stock valued at $21,606,000 after purchasing an additional 5,046,667 shares during the period. Vanguard Group Inc. lifted its position in AST SpaceMobile by 49.9% during the first quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company’s stock valued at $19,325,000 after purchasing an additional 2,217,531 shares during the last quarter. Broad Run Investment Management LLC increased its holdings in shares of AST SpaceMobile by 74.8% in the 4th quarter. Broad Run Investment Management LLC now owns 3,962,853 shares of the company’s stock worth $23,896,000 after buying an additional 1,695,805 shares during the last quarter. Masters Capital Management LLC bought a new stake in AST SpaceMobile in the 1st quarter worth approximately $2,900,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in AST SpaceMobile during the second quarter valued at about $9,270,000. Institutional investors 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.