AST SpaceMobile (NASDAQ:ASTS) Stock Price Down 3.9% – Should You Sell?

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s stock price fell 3.9% during trading on Monday . The company traded as low as $26.10 and last traded at $27.52. 6,383,844 shares changed hands during trading, a decline of 44% from the average session volume of 11,466,841 shares. The stock had previously closed at $28.64.

Wall Street Analysts Forecast Growth

ASTS has been the topic of several research reports. Scotiabank cut their price objective on shares of AST SpaceMobile from $44.70 to $40.20 and set a “sector outperform” rating on the stock in a research report on Friday, January 24th. Cantor Fitzgerald initiated coverage on AST SpaceMobile in a report on Thursday, February 6th. They issued an “overweight” rating and a $30.00 price target on the stock. Finally, UBS Group increased their price objective on AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, AST SpaceMobile has a consensus rating of “Buy” and a consensus target price of $40.04.

AST SpaceMobile Trading Down 0.4 %

The business’s 50-day moving average is $23.87 and its two-hundred day moving average is $25.32. 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 firm has a market cap of $8.26 billion, a P/E ratio of -13.33 and a beta of 1.62.

Institutional Trading of AST SpaceMobile

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Hollencrest Capital Management acquired a new position in shares of AST SpaceMobile during the 3rd quarter worth approximately $26,000. Fairfield Financial Advisors LTD acquired a new position in AST SpaceMobile during the third quarter worth $26,000. Summit Securities Group LLC bought a new stake in AST SpaceMobile during the fourth quarter worth $37,000. Golden State Wealth Management LLC acquired a new stake in AST SpaceMobile in the fourth quarter valued at $46,000. Finally, CIBC Private Wealth Group LLC grew its position in shares of AST SpaceMobile by 106.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company’s stock valued at $53,000 after acquiring an additional 1,222 shares during the period. Institutional investors 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.