AST SpaceMobile (NASDAQ:ASTS) Shares Down 1.3% - Should You Sell?

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) were down 1.3% during mid-day trading on Tuesday . The stock traded as low as $28.65 and last traded at $28.93. Approximately 1,906,312 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 12,066,075 shares. The stock had previously closed at $29.30.

Analyst Upgrades and Downgrades

Several analysts have commented on ASTS shares. Scotiabank reaffirmed an "outperform" rating on shares of AST SpaceMobile in a research note on Wednesday, March 5th. UBS Group increased their price target on AST SpaceMobile from $31.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $30.00 price objective on shares of AST SpaceMobile in a research note on Tuesday, March 4th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $42.98.

AST SpaceMobile Stock Down 7.0 %

The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80. The firm's 50-day simple moving average is $26.38 and its 200 day simple moving average is $25.17. The company has a market capitalization of $7.59 billion, a PE ratio of -11.29 and a beta of 1.62.

Insider Buying and Selling at AST SpaceMobile

In related news, Director Julio A. Torres sold 20,000 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $30.73, for a total value of $614,600.00. Following the completion of the transaction, the director now directly owns 52,628 shares of the company's stock, valued at $1,617,258.44. This trade represents a 27.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 41.80% of the stock is currently owned by corporate insiders.

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Institutional Trading of AST SpaceMobile

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of AST SpaceMobile by 49.4% in the 4th quarter. Vanguard Group Inc. now owns 14,987,351 shares of the company's stock worth $316,233,000 after buying an additional 4,955,941 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of AST SpaceMobile by 7.0% in the fourth quarter. Geode Capital Management LLC now owns 3,496,825 shares of the company's stock valued at $73,801,000 after purchasing an additional 229,759 shares in the last quarter. State Street Corp increased its stake in shares of AST SpaceMobile by 14.8% during the 3rd quarter. State Street Corp now owns 3,091,577 shares of the company's stock worth $80,845,000 after purchasing an additional 399,713 shares in the last quarter. T. Rowe Price Investment Management Inc. purchased a new position in shares of AST SpaceMobile during the 4th quarter worth approximately $59,523,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of AST SpaceMobile by 11.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,266,713 shares of the company's stock worth $26,728,000 after purchasing an additional 135,008 shares during the last quarter. 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.