AST SpaceMobile (NASDAQ:ASTS) Shares Gap Down - Here's Why

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report)'s stock price gapped down prior to trading on Friday . The stock had previously closed at $32.18, but opened at $31.40. AST SpaceMobile shares last traded at $31.51, with a volume of 2,479,921 shares traded.

Wall Street Analyst Weigh In

ASTS has been the subject of a number of recent research reports. Scotiabank raised their target price on AST SpaceMobile from $40.20 to $47.90 and gave the stock a "sector outperform" rating in a research report on Wednesday. UBS Group raised their target price on AST SpaceMobile from $31.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $30.00 target price on shares of AST SpaceMobile in a research report on Tuesday. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, AST SpaceMobile has a consensus rating of "Buy" and a consensus target price of $42.98.

AST SpaceMobile Stock Performance

The company has a market capitalization of $9.68 billion, a PE ratio of -15.75 and a beta of 1.62. 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 company has a 50-day moving average price of $24.72 and a two-hundred day moving average price of $25.58.

Hedge Funds Weigh In On AST SpaceMobile

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bernard Wealth Management Corp. purchased a new position in AST SpaceMobile during the fourth quarter worth about $42,000. First Heartland Consultants Inc. grew its position in AST SpaceMobile by 42.3% during the fourth quarter. First Heartland Consultants Inc. now owns 14,499 shares of the company's stock worth $306,000 after buying an additional 4,311 shares in the last quarter. PharVision Advisers LLC purchased a new position in AST SpaceMobile during the fourth quarter worth about $541,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in AST SpaceMobile by 49.7% during 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 buying an additional 91,536 shares in the last quarter. Finally, Twinbeech Capital LP purchased a new position in AST SpaceMobile during the fourth quarter worth about $4,684,000. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

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.