AST SpaceMobile (NASDAQ:ASTS) Trading Down 0.4% - What's Next?

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report)'s share price fell 0.4% during mid-day trading on Thursday . The company traded as low as $24.81 and last traded at $25.54. 1,953,179 shares traded hands during trading, a decline of 84% from the average session volume of 11,912,093 shares. The stock had previously closed at $25.65.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ASTS shares. UBS Group raised 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. Scotiabank reissued an "outperform" rating on shares of AST SpaceMobile in a research note on Wednesday, March 5th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $30.00 price objective on shares of AST SpaceMobile in a research report on Tuesday, March 4th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, AST SpaceMobile presently has a consensus rating of "Buy" and an average target price of $42.98.

AST SpaceMobile Stock Performance

The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80. The business's 50-day moving average is $25.84 and its 200-day moving average is $25.18. The company has a market capitalization of $8.14 billion, a PE ratio of -12.13 and a beta of 1.62.

Insider Transactions at AST SpaceMobile

In related 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 value of $614,600.00. Following the transaction, the director now owns 52,628 shares in the company, valued at $1,617,258.44. The trade was a 27.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 41.80% of the company's stock.

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Institutional Investors Weigh In On AST SpaceMobile

A number of institutional investors have recently made changes to their positions in ASTS. JPMorgan Chase & Co. lifted its holdings in shares of AST SpaceMobile by 235.9% during the third quarter. JPMorgan Chase & Co. now owns 247,781 shares of the company's stock valued at $6,479,000 after purchasing an additional 174,007 shares in the last quarter. Algert Global LLC purchased a new position in AST SpaceMobile in the 3rd quarter worth about $768,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of AST SpaceMobile by 11.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,266,713 shares of the company's stock valued at $26,728,000 after acquiring an additional 135,008 shares during the last quarter. Handelsbanken Fonder AB bought a new stake in shares of AST SpaceMobile in the fourth quarter worth approximately $755,000. Finally, Van ECK Associates Corp lifted its position in AST SpaceMobile by 150.1% during the fourth quarter. Van ECK Associates Corp now owns 258,747 shares of the company's stock valued at $5,460,000 after purchasing an additional 155,310 shares during the period. Hedge funds and other 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.