AST SpaceMobile (NASDAQ:ASTS) Shares Down 4.9% – Time to Sell?

AST SpaceMobile, Inc. (NASDAQ:ASTS) fell 4.9% on Friday . The company traded as low as $29.64 and last traded at $30.10. 3,592,535 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 11,448,361 shares. The stock had previously closed at $31.63.

Analyst Ratings Changes

ASTS has been the subject of a number of recent research reports. UBS Group upped their price objective on AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Scotiabank lowered 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. Finally, Cantor Fitzgerald began coverage on AST SpaceMobile in a research note on Thursday, February 6th. They set an “overweight” rating and a $30.00 price objective for the company. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $40.04.

AST SpaceMobile Stock Performance

The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $8.36 billion, a price-to-earnings ratio of -13.64 and a beta of 1.62. The firm has a 50-day simple moving average of $23.77 and a two-hundred day simple moving average of $25.17.

Institutional Trading of AST SpaceMobile

A number of hedge funds have recently modified their holdings of ASTS. Hollencrest Capital Management bought a new position in shares of AST SpaceMobile during the 3rd quarter worth approximately $26,000. Fairfield Financial Advisors LTD acquired a new stake in AST SpaceMobile during the 3rd quarter valued at $26,000. Summit Securities Group LLC acquired a new stake in AST SpaceMobile during the 4th quarter valued at $37,000. Golden State Wealth Management LLC acquired a new stake in AST SpaceMobile during the 4th quarter valued at $46,000. Finally, CIBC Private Wealth Group LLC increased its holdings in AST SpaceMobile by 106.3% during the 4th 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 own 60.95% of the company’s stock.

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.