AST SpaceMobile (NASDAQ:ASTS) Shares Down 4.6% - Time to Sell?

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report)'s stock price dropped 4.6% during mid-day trading on Thursday . The stock traded as low as $28.87 and last traded at $29.74. Approximately 5,508,032 shares traded hands during trading, a decline of 52% from the average daily volume of 11,536,661 shares. The stock had previously closed at $31.17.

Wall Street Analyst Weigh In

ASTS has been the topic of several recent analyst reports. Scotiabank cut their target price on shares of AST SpaceMobile from $44.70 to $40.20 and set a "sector outperform" rating on the stock in a research note on Friday, January 24th. UBS Group boosted their target price on shares of AST SpaceMobile from $30.00 to $31.00 and gave the company a "buy" rating in a research note on Friday, November 15th. Finally, Cantor Fitzgerald assumed coverage on shares of AST SpaceMobile in a research note on Thursday, February 6th. They set an "overweight" rating and a $30.00 target price on the stock. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, AST SpaceMobile has a consensus rating of "Buy" and a consensus price target of $40.04.

AST SpaceMobile Price Performance

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 $8.30 billion, a price-to-earnings ratio of -13.51 and a beta of 1.62. The stock's 50 day moving average price is $23.87 and its two-hundred day moving average price is $25.32.

Institutional Investors Weigh In On AST SpaceMobile

A number of large investors have recently bought and sold shares of the business. First Heartland Consultants Inc. boosted its holdings in AST SpaceMobile by 42.3% in the fourth quarter. First Heartland Consultants Inc. now owns 14,499 shares of the company's stock worth $306,000 after purchasing an additional 4,311 shares in the last quarter. PharVision Advisers LLC bought a new stake in AST SpaceMobile in the fourth quarter worth $541,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in AST SpaceMobile by 49.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 275,810 shares of the company's stock worth $5,820,000 after purchasing an additional 91,536 shares in the last quarter. Twinbeech Capital LP bought a new stake in AST SpaceMobile in the fourth quarter worth $4,684,000. Finally, Two Sigma Investments LP boosted its holdings in AST SpaceMobile by 117.5% in the fourth quarter. Two Sigma Investments LP now owns 51,874 shares of the company's stock worth $1,095,000 after purchasing an additional 28,025 shares in the last quarter. 60.95% of the stock is currently owned by institutional investors.

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.