AST SpaceMobile (NASDAQ:ASTS) Trading Down 3.5% - What's Next?

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report)'s share price was down 3.5% during trading on Wednesday . The company traded as low as $21.73 and last traded at $22.20. Approximately 1,983,703 shares were traded during trading, a decline of 63% from the average daily volume of 5,318,823 shares. The stock had previously closed at $23.00.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ASTS shares. Scotiabank reduced their target price on AST SpaceMobile from $45.90 to $44.70 and set a "sector outperform" rating for the company in a report on Friday, November 15th. 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.

AST SpaceMobile Stock Performance

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 stock has a market cap of $6.52 billion, a price-to-earnings ratio of -10.62 and a beta of 1.64. The firm has a fifty day moving average of $23.68 and a 200 day moving average of $22.97.

Institutional Investors Weigh In On AST SpaceMobile

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Amalgamated Bank increased its stake in AST SpaceMobile by 17.4% during the third quarter. Amalgamated Bank now owns 4,578 shares of the company's stock worth $120,000 after acquiring an additional 679 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of AST SpaceMobile by 5.5% during the second quarter. Victory Capital Management Inc. now owns 15,542 shares of the company's stock worth $180,000 after buying an additional 814 shares during the period. Fairfield Financial Advisors LTD purchased a new position in shares of AST SpaceMobile during the third quarter worth $26,000. Hollencrest Capital Management purchased a new position in shares of AST SpaceMobile during the third quarter worth $26,000. Finally, Calton & Associates Inc. boosted its position in shares of AST SpaceMobile by 14.5% during the third quarter. Calton & Associates Inc. now owns 12,600 shares of the company's stock worth $329,000 after buying an additional 1,600 shares during the period. 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.