AST SpaceMobile (NASDAQ:ASTS) Trading Down 3.9% – Should You Sell?

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s stock price was down 3.9% during mid-day trading on Monday . The stock traded as low as $26.10 and last traded at $27.52. Approximately 6,383,844 shares were traded during mid-day trading, a decline of 44% from the average daily volume of 11,466,841 shares. The stock had previously closed at $28.64.

Wall Street Analyst Weigh In

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

AST SpaceMobile Price Performance

The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80. The company has a market capitalization of $8.26 billion, a price-to-earnings ratio of -13.33 and a beta of 1.62. The company has a 50-day moving average price of $23.87 and a 200-day moving average price of $25.32.

Institutional Investors Weigh In On AST SpaceMobile

Several hedge funds have recently bought and sold shares of the company. Private Advisor Group LLC increased its position in shares of AST SpaceMobile by 18.2% in the 3rd quarter. Private Advisor Group LLC now owns 19,170 shares of the company’s stock valued at $501,000 after buying an additional 2,955 shares in the last quarter. Allworth Financial LP grew its stake in AST SpaceMobile by 3,554.0% in the third quarter. Allworth Financial LP now owns 9,208 shares of the company’s stock valued at $241,000 after acquiring an additional 8,956 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of AST SpaceMobile by 2,418.4% in the third quarter. Nisa Investment Advisors LLC now owns 31,027 shares of the company’s stock worth $811,000 after acquiring an additional 29,795 shares in the last quarter. Traynor Capital Management Inc. bought a new stake in shares of AST SpaceMobile in the third quarter worth about $276,000. Finally, Fairfield Financial Advisors LTD acquired a new stake in shares of AST SpaceMobile during the third quarter worth about $26,000. 60.95% of the stock is currently owned by institutional investors and hedge funds.

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.