AST SpaceMobile (NASDAQ:ASTS) Trading Down 1.8% – Time to Sell?

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s stock price dropped 1.8% on Friday . The company traded as low as $26.28 and last traded at $26.62. Approximately 8,018,791 shares changed hands during trading, a decline of 22% from the average daily volume of 10,294,140 shares. The stock had previously closed at $27.12.

Analyst Ratings Changes

A number of analysts have recently commented on ASTS shares. Scotiabank dropped their price objective on AST SpaceMobile from $44.70 to $40.20 and set a “sector outperform” rating for the company in a report on Friday, January 24th. Cantor Fitzgerald assumed coverage on AST SpaceMobile in a report on Thursday. They issued an “overweight” rating and a $30.00 price objective on the stock. Finally, UBS Group boosted their target price on AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $40.04.

AST SpaceMobile Stock Performance

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 stock has a market cap of $7.68 billion, a P/E ratio of -12.50 and a beta of 1.62. The company has a fifty day moving average of $22.49 and a 200 day moving average of $24.27.

Institutional Investors Weigh In On AST SpaceMobile

A number of institutional investors and hedge funds have recently bought and sold shares of ASTS. Fairfield Financial Advisors LTD purchased a new stake in AST SpaceMobile during the third quarter valued at about $26,000. Hollencrest Capital Management purchased a new position in AST SpaceMobile during the 3rd quarter worth approximately $26,000. Golden State Wealth Management LLC acquired a new stake in AST SpaceMobile during the 4th quarter valued at $46,000. Rakuten Securities Inc. purchased a new stake in shares of AST SpaceMobile in the third quarter valued at $68,000. Finally, AlphaQuest LLC acquired a new stake in shares of AST SpaceMobile in the fourth quarter worth $67,000. 60.95% of the stock is 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.