AST SpaceMobile (NASDAQ:ASTS) Stock Price Down 1.8% – Should You Sell?

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

Wall Street Analyst Weigh In

ASTS has been the subject of a number of analyst reports. Scotiabank reduced their target price on shares of 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. Cantor Fitzgerald initiated coverage on AST SpaceMobile in a report on Thursday. They issued an “overweight” rating and a $30.00 target price for the company. Finally, UBS Group increased their price target on AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a report on Friday, November 15th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $40.04.

AST SpaceMobile Stock Down 2.2 %

The firm has a market capitalization of $7.68 billion, a price-to-earnings ratio of -12.50 and a beta of 1.62. The business has a 50 day moving average of $22.49 and a 200 day moving average of $24.27. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80.

Institutional Trading of AST SpaceMobile

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fairfield Financial Advisors LTD acquired a new stake in AST SpaceMobile in the 3rd quarter valued at $26,000. Hollencrest Capital Management acquired a new stake in shares of AST SpaceMobile in the 3rd quarter valued at $26,000. Golden State Wealth Management LLC bought a new stake in shares of AST SpaceMobile in the 4th quarter worth about $46,000. AlphaQuest LLC acquired a new stake in shares of AST SpaceMobile during the 4th quarter worth about $67,000. Finally, Rakuten Securities Inc. bought a new position in AST SpaceMobile during the 3rd quarter valued at about $68,000. 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.