AST SpaceMobile (NASDAQ:ASTS) Trading Down 4.1% – Should You Sell?

AST SpaceMobile, Inc. (NASDAQ:ASTS) fell 4.1% on Tuesday . The company traded as low as $29.28 and last traded at $29.86. 6,075,975 shares were traded during trading, a decline of 46% from the average session volume of 11,263,486 shares. The stock had previously closed at $31.14.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ASTS shares. Scotiabank dropped their price target on AST SpaceMobile from $44.70 to $40.20 and set a “sector outperform” rating for the company in a research note on Friday, January 24th. Cantor Fitzgerald began coverage on AST SpaceMobile in a research report on Thursday, February 6th. They issued an “overweight” rating and a $30.00 target price for the company. Finally, UBS Group upped their target price on AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $40.04.

AST SpaceMobile Stock Performance

The company has a market cap of $8.41 billion, a P/E ratio of -13.77 and a beta of 1.62. The business has a 50 day moving average price of $22.71 and a two-hundred day moving average price of $24.61. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80.

Institutional Investors Weigh In On AST SpaceMobile

Several institutional investors have recently added to or reduced their stakes in the company. Amalgamated Bank raised its stake in shares of AST SpaceMobile by 17.4% during the third quarter. Amalgamated Bank now owns 4,578 shares of the company’s stock valued at $120,000 after acquiring an additional 679 shares during the last quarter. Xponance Inc. grew its stake in shares of AST SpaceMobile by 8.7% in the fourth quarter. Xponance Inc. now owns 9,676 shares of the company’s stock worth $204,000 after purchasing an additional 772 shares during the last quarter. Fairfield Financial Advisors LTD purchased a new position in AST SpaceMobile during the 3rd quarter valued at about $26,000. Hollencrest Capital Management bought a new position in AST SpaceMobile during the 3rd quarter valued at approximately $26,000. Finally, Americana Partners LLC lifted its holdings in AST SpaceMobile by 5.2% in the 4th quarter. Americana Partners LLC now owns 27,047 shares of the company’s stock worth $571,000 after buying an additional 1,326 shares during the period. 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.