AST SpaceMobile (NASDAQ:ASTS) Shares Gap Down – Should You Sell?

AST SpaceMobile, Inc. (NASDAQ:ASTS) shares gapped down before the market opened on Monday . The stock had previously closed at $45.94, but opened at $43.75. AST SpaceMobile shares last traded at $47.99, with a volume of 4,264,567 shares.

Analyst Ratings Changes

ASTS has been the subject of a number of recent research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 target price on shares of AST SpaceMobile in a research report on Tuesday, March 4th. Scotiabank restated a “sector perform” rating and set a $45.40 target price on shares of AST SpaceMobile in a report on Monday. UBS Group upped their price target on AST SpaceMobile from $31.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. B. Riley reiterated a “buy” rating and set a $44.00 price objective (up previously from $36.00) on shares of AST SpaceMobile in a research report on Monday, June 16th. Finally, Oppenheimer started coverage on AST SpaceMobile in a research note on Monday, May 5th. They set a “market perform” rating on the stock. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $43.73.

AST SpaceMobile Trading Up 6.0%

The company’s 50 day simple moving average is $28.93 and its two-hundred day simple moving average is $26.15. The company has a debt-to-equity ratio of 0.60, a current ratio of 10.62 and a quick ratio of 10.62. The company has a market cap of $16.84 billion, a PE ratio of -26.74 and a beta of 2.02.

AST SpaceMobile (NASDAQ:ASTS) last announced its earnings results on Monday, May 12th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.03). The firm had revenue of $0.72 million for the quarter, compared to analysts’ expectations of $3.85 million. AST SpaceMobile had a negative net margin of 7,033.22% and a negative return on equity of 23.56%. As a group, sell-side analysts anticipate that AST SpaceMobile, Inc. will post -0.4 EPS for the current fiscal year.

Insider Activity

In other AST SpaceMobile news, CTO Huiwen Yao sold 4,250 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $34.60, for a total value of $147,050.00. Following the sale, the chief technology officer now directly owns 20,750 shares of the company’s stock, valued at approximately $717,950. This represents a 17.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, President Scott Wisniewski sold 50,000 shares of AST SpaceMobile stock in a transaction on Monday, June 9th. The stock was sold at an average price of $35.65, for a total transaction of $1,782,500.00. Following the sale, the president now directly owns 545,595 shares of the company’s stock, valued at approximately $19,450,461.75. This trade represents a 8.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 184,250 shares of company stock worth $6,146,750. Corporate insiders own 41.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Voya Investment Management LLC lifted its stake in AST SpaceMobile by 1,992.5% during the first quarter. Voya Investment Management LLC now owns 843,554 shares of the company’s stock worth $19,182,000 after purchasing an additional 803,240 shares during the last quarter. Strs Ohio acquired a new stake in AST SpaceMobile during the first quarter worth approximately $168,000. Belpointe Asset Management LLC purchased a new stake in shares of AST SpaceMobile during the 1st quarter worth approximately $900,000. Intech Investment Management LLC lifted its position in shares of AST SpaceMobile by 36.2% during the 1st quarter. Intech Investment Management LLC now owns 84,069 shares of the company’s stock worth $1,912,000 after buying an additional 22,358 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of AST SpaceMobile by 18.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 325,621 shares of the company’s stock valued at $7,405,000 after buying an additional 49,811 shares in the last quarter. Hedge funds and other institutional investors own 60.95% of the company’s stock.

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.