AST SpaceMobile (NASDAQ:ASTS) Shares Down 3.9%

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) fell 3.9% during trading on Friday . The company traded as low as $26.66 and last traded at $27.50. 5,143,281 shares were traded during mid-day trading, a decline of 51% from the average session volume of 10,479,924 shares. The stock had previously closed at $28.61.

Analysts Set New Price Targets

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

AST SpaceMobile Stock Down 7.5 %

The firm has a market cap of $6.81 billion, a price-to-earnings ratio of -27.30 and a beta of 1.63. The business’s 50-day moving average is $23.67 and its 200-day moving average is $11.76. The company has a debt-to-equity ratio of 0.83, a quick ratio of 6.38 and a current ratio of 6.38.

AST SpaceMobile (NASDAQ:ASTS) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.05. The firm had revenue of $0.90 million for the quarter, compared to analyst estimates of $2.00 million. On average, equities analysts predict that AST SpaceMobile, Inc. will post -0.88 EPS for the current year.

Insiders Place Their Bets

In related news, Director Adriana Cisneros acquired 4,934 shares of the stock in a transaction on Friday, September 6th. The stock was purchased at an average price of $26.32 per share, for a total transaction 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 acquisition was disclosed in a filing with the SEC, which is available through this link. Insiders own 56.56% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Victory Capital Management Inc. increased its position in AST SpaceMobile by 5.5% in the second quarter. Victory Capital Management Inc. now owns 15,542 shares of the company’s stock worth $180,000 after purchasing an additional 814 shares during the period. Accordant Advisory Group Inc grew its position in shares of AST SpaceMobile by 2.0% during the 2nd quarter. Accordant Advisory Group Inc now owns 162,823 shares of the company’s stock worth $1,890,000 after buying an additional 3,146 shares during the period. MBE Wealth Management LLC raised its stake in shares of AST SpaceMobile by 34.1% during the second quarter. MBE Wealth Management LLC now owns 27,000 shares of the company’s stock worth $313,000 after buying an additional 6,870 shares during the last quarter. Cantor Fitzgerald L. P. bought a new stake in shares of AST SpaceMobile during the fourth quarter worth approximately $66,000. Finally, Calton & Associates Inc. acquired a new position in AST SpaceMobile in the second quarter valued at approximately $128,000. 60.95% of the stock is currently owned by institutional investors.

AST SpaceMobile Company Profile

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.