AST SpaceMobile (NASDAQ:ASTS) Trading Down 0.6% – Should You Sell?

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) were down 0.6% during mid-day trading on Thursday . The stock traded as low as $26.08 and last traded at $27.13. Approximately 2,082,616 shares changed hands during trading, a decline of 83% from the average daily volume of 11,991,859 shares. The stock had previously closed at $27.29.

Wall Street Analyst Weigh In

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

AST SpaceMobile Stock Performance

The business has a 50-day moving average price of $26.28 and a 200-day moving average price of $25.16. 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 firm has a market capitalization of $8.34 billion, a price-to-earnings ratio of -12.43 and a beta of 1.62.

Insider Buying and Selling at AST SpaceMobile

In other news, Director Julio A. Torres sold 20,000 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $30.73, for a total transaction of $614,600.00. Following the transaction, the director now owns 52,628 shares in the company, valued at $1,617,258.44. This represents a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 41.80% of the stock is currently owned by company insiders.

Institutional Trading of AST SpaceMobile

A number of institutional investors have recently bought and sold shares of the stock. Summit Securities Group LLC purchased a new position in shares of AST SpaceMobile in the fourth quarter worth $37,000. Bernard Wealth Management Corp. purchased a new position in AST SpaceMobile in the 4th quarter worth $42,000. Golden State Wealth Management LLC acquired a new stake in AST SpaceMobile during the 4th quarter worth about $46,000. CIBC Private Wealth Group LLC grew its stake 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 during the last quarter. Finally, AlphaQuest LLC acquired a new position in shares of AST SpaceMobile in the fourth quarter valued at about $67,000. 60.95% of the stock is currently owned by institutional investors and hedge funds.

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.