AST SpaceMobile (NASDAQ:ASTS) Trading Down 4.6% – Time to Sell?

AST SpaceMobile, Inc. (NASDAQ:ASTS) shares fell 4.6% during trading on Thursday . The company traded as low as $28.87 and last traded at $29.74. 5,508,032 shares traded hands during trading, a decline of 52% from the average session volume of 11,536,661 shares. The stock had previously closed at $31.17.

Analyst Ratings Changes

Several research analysts have recently issued reports on ASTS shares. Scotiabank reduced their price objective 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. UBS Group raised 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 assumed coverage on shares of AST SpaceMobile in a report on Thursday, February 6th. They issued an “overweight” rating and a $30.00 price objective on the stock. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $40.04.

AST SpaceMobile Stock Down 9.5 %

The business’s fifty day simple moving average is $23.87 and its two-hundred day simple moving average is $25.24. The company has a market cap of $8.30 billion, a PE ratio of -13.51 and a beta of 1.62. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80.

Hedge Funds Weigh In On AST SpaceMobile

A number of large investors have recently bought and sold shares of ASTS. Amalgamated Bank grew its holdings in AST SpaceMobile by 17.4% in the third quarter. Amalgamated Bank now owns 4,578 shares of the company’s stock valued at $120,000 after purchasing an additional 679 shares during the period. Xponance Inc. grew its stake in AST SpaceMobile by 8.7% in the 4th quarter. Xponance Inc. now owns 9,676 shares of the company’s stock valued at $204,000 after acquiring an additional 772 shares during the period. Hollencrest Capital Management purchased a new stake in AST SpaceMobile in the 3rd quarter worth $26,000. Fairfield Financial Advisors LTD acquired a new position in AST SpaceMobile during the third quarter worth $26,000. Finally, CIBC Private Wealth Group LLC lifted its holdings in AST SpaceMobile by 106.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company’s stock valued at $53,000 after purchasing an additional 1,222 shares in the last quarter. Institutional investors and hedge funds 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.