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

AST SpaceMobile, Inc. (NASDAQ:ASTS) shares gapped down before the market opened on Wednesday . The stock had previously closed at $20.14, but opened at $19.54. AST SpaceMobile shares last traded at $18.04, with a volume of 4,498,250 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. UBS Group boosted their price target on shares of AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a report on Friday, November 15th. 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.

AST SpaceMobile Price Performance

The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $5.21 billion, a price-to-earnings ratio of -8.47 and a beta of 1.64. The stock’s 50-day moving average price is $22.76 and its 200-day moving average price is $24.00.

Institutional Trading of AST SpaceMobile

A number of hedge funds have recently modified their holdings of the company. Amalgamated Bank raised its holdings in AST SpaceMobile by 17.4% during the 3rd quarter. Amalgamated Bank now owns 4,578 shares of the company’s stock worth $120,000 after buying an additional 679 shares during the period. Fairfield Financial Advisors LTD bought a new position in shares of AST SpaceMobile during the 3rd quarter worth approximately $26,000. Hollencrest Capital Management bought a new stake in AST SpaceMobile during the 3rd quarter worth about $26,000. Calton & Associates Inc. boosted its position in AST SpaceMobile by 14.5% during the third quarter. Calton & Associates Inc. now owns 12,600 shares of the company’s stock valued at $329,000 after purchasing an additional 1,600 shares during the last quarter. Finally, Golden State Wealth Management LLC bought a new stake in AST SpaceMobile during the fourth quarter worth $46,000. 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.