AST SpaceMobile (NASDAQ:ASTS) Stock Price Down 0.2% – Should You Sell?

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s share price was down 0.2% on Monday . The company traded as low as $27.16 and last traded at $28.10. Approximately 3,448,410 shares were traded during trading, a decline of 71% from the average daily volume of 11,892,445 shares. The stock had previously closed at $28.15.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ASTS shares. Cantor Fitzgerald restated an “overweight” rating and set a $30.00 price objective on shares of AST SpaceMobile in a research note on Tuesday, March 4th. Scotiabank restated an “outperform” rating on shares of AST SpaceMobile in a report on Wednesday, March 5th. Finally, UBS Group boosted their target price on shares of AST SpaceMobile from $31.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $42.98.

AST SpaceMobile Price Performance

The business has a fifty day moving average price of $25.53 and a 200 day moving average price of $25.26. The company has a market capitalization of $9.03 billion, a price-to-earnings ratio of -13.48 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.

Insider Transactions at AST SpaceMobile

In related news, Director Julio A. Torres sold 20,000 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $30.73, for a total value of $614,600.00. Following the completion of the sale, the director now directly owns 52,628 shares of the company’s stock, valued at approximately $1,617,258.44. This represents a 27.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 41.80% of the stock is owned by insiders.

Hedge Funds Weigh In On AST SpaceMobile

A number of large investors have recently made changes to their positions in the business. Summit Securities Group LLC bought a new position in AST SpaceMobile during the fourth quarter valued at approximately $37,000. Bernard Wealth Management Corp. bought a new position in shares of AST SpaceMobile in the 4th quarter valued at approximately $42,000. Golden State Wealth Management LLC bought a new stake in AST SpaceMobile during the fourth quarter worth approximately $46,000. CIBC Private Wealth Group LLC boosted its holdings in shares of AST SpaceMobile by 106.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company’s stock worth $53,000 after buying an additional 1,222 shares during the period. Finally, AlphaQuest LLC bought a new position in AST SpaceMobile in the 4th quarter worth $67,000. Institutional investors and hedge funds 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.