AST SpaceMobile (NASDAQ:ASTS) Shares Gap Down - What's Next?

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report)'s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $20.14, but opened at $19.54. AST SpaceMobile shares last traded at $18.04, with a volume of 4,498,250 shares.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ASTS. UBS Group boosted their price target on shares of AST SpaceMobile from $30.00 to $31.00 and gave the stock a "buy" rating in a research note on Friday, November 15th. 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.

AST SpaceMobile Trading Up 11.1 %

The company has a market capitalization of $5.86 billion, a P/E ratio of -9.55 and a beta of 1.64. The business has a 50 day moving average price of $22.45 and a 200 day moving average price of $23.96. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31.

Institutional Investors Weigh In On AST SpaceMobile

Large investors have recently bought and sold shares of the company. Fairfield Financial Advisors LTD bought a new position in shares of AST SpaceMobile during the 3rd quarter valued at about $26,000. Hollencrest Capital Management bought a new position in AST SpaceMobile in the third quarter valued at approximately $26,000. Golden State Wealth Management LLC acquired a new position in shares of AST SpaceMobile in the fourth quarter valued at approximately $46,000. Rakuten Securities Inc. bought a new stake in shares of AST SpaceMobile during the third quarter worth $68,000. Finally, Sunbelt Securities Inc. increased its position in shares of AST SpaceMobile by 3,380.0% during the third quarter. Sunbelt Securities Inc. now owns 3,480 shares of the company's stock worth $91,000 after acquiring an additional 3,380 shares in the last quarter. 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.