AST SpaceMobile (NASDAQ:ASTS) Stock Price Down 1.3% – Time to Sell?

AST SpaceMobile, Inc. (NASDAQ:ASTS) traded down 1.3% during mid-day trading on Tuesday . The company traded as low as $28.65 and last traded at $28.93. 1,906,312 shares changed hands during trading, a decline of 84% from the average session volume of 12,066,075 shares. The stock had previously closed at $29.30.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 target price on shares of AST SpaceMobile in a research note on Tuesday, March 4th. UBS Group lifted their target price on AST SpaceMobile from $31.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Finally, Scotiabank restated an “outperform” rating on shares of AST SpaceMobile in a research report on Wednesday, March 5th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, AST SpaceMobile presently has a consensus rating of “Buy” and a consensus target price of $42.98.

AST SpaceMobile Stock Down 1.9 %

The company has a market capitalization of $9.10 billion, a P/E ratio of -13.54 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. The company has a 50 day moving average of $26.01 and a 200-day moving average of $25.13.

Insider Buying and Selling

In other AST SpaceMobile news, Director Julio A. Torres sold 20,000 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $30.73, for a total value of $614,600.00. Following the sale, the director now owns 52,628 shares in the company, valued at approximately $1,617,258.44. This represents a 27.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 41.80% of the stock is owned by insiders.

Hedge Funds Weigh In On AST SpaceMobile

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in AST SpaceMobile by 49.4% during the fourth quarter. Vanguard Group Inc. now owns 14,987,351 shares of the company’s stock valued at $316,233,000 after acquiring an additional 4,955,941 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of AST SpaceMobile by 7.0% in the fourth quarter. Geode Capital Management LLC now owns 3,496,825 shares of the company’s stock worth $73,801,000 after buying an additional 229,759 shares during the period. State Street Corp grew its stake in shares of AST SpaceMobile by 14.8% during the 3rd quarter. State Street Corp now owns 3,091,577 shares of the company’s stock valued at $80,845,000 after acquiring an additional 399,713 shares during the period. T. Rowe Price Investment Management Inc. bought a new stake in AST SpaceMobile during the 4th quarter worth approximately $59,523,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of AST SpaceMobile by 11.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,266,713 shares of the company’s stock worth $26,728,000 after purchasing an additional 135,008 shares during the period. 60.95% of the stock is owned by institutional investors.

About AST SpaceMobile

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.