AST SpaceMobile (NASDAQ:ASTS) Trading Down 4.9% - Time to Sell?

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) were down 4.9% during trading on Friday . The company traded as low as $29.64 and last traded at $30.10. Approximately 3,592,535 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 11,448,361 shares. The stock had previously closed at $31.63.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Scotiabank dropped 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 report on Friday, January 24th. UBS Group lifted their price objective on AST SpaceMobile from $30.00 to $31.00 and gave the company a "buy" rating in a research report on Friday, November 15th. Finally, Cantor Fitzgerald raised AST SpaceMobile to a "strong-buy" rating in a research report on Tuesday. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $40.04.

AST SpaceMobile Price Performance

The firm has a market cap of $7.89 billion, a P/E ratio of -12.85 and a beta of 1.62. 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 firm's 50 day moving average is $23.99 and its 200 day moving average is $25.40.

Institutional Trading of AST SpaceMobile

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Hollencrest Capital Management bought a new position in AST SpaceMobile in the 3rd quarter worth about $26,000. Fairfield Financial Advisors LTD bought a new position in shares of AST SpaceMobile in the third quarter worth approximately $26,000. Summit Securities Group LLC purchased a new stake in shares of AST SpaceMobile during the fourth quarter valued at approximately $37,000. Golden State Wealth Management LLC bought a new stake in shares of AST SpaceMobile during the fourth quarter valued at approximately $46,000. Finally, CIBC Private Wealth Group LLC raised its holdings in AST SpaceMobile by 106.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company's stock worth $53,000 after acquiring an additional 1,222 shares during the last quarter. Hedge funds and other 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.