AST SpaceMobile (NASDAQ:ASTS) Stock Price Down 0.2% - Time to Sell?

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report)'s stock price fell 0.2% during trading on Monday . The company traded as low as $27.16 and last traded at $28.10. 3,448,410 shares traded hands during trading, a decline of 71% from the average session volume of 11,892,445 shares. The stock had previously closed at $28.15.

Wall Street Analysts Forecast Growth

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

AST SpaceMobile Price Performance

The stock has a market cap of $8.14 billion, a price-to-earnings ratio of -12.13 and a beta of 1.62. The stock's 50 day moving average price is $25.84 and its two-hundred day moving average price is $25.21. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31.

Insider Transactions at AST SpaceMobile

In related news, Director Julio A. Torres sold 20,000 shares of the firm's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $30.73, for a total transaction of $614,600.00. Following the sale, the director now owns 52,628 shares in the company, valued at approximately $1,617,258.44. This trade represents a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 41.80% of the company's stock.

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Institutional Trading of AST SpaceMobile

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in AST SpaceMobile by 49.4% during the fourth quarter. Vanguard Group Inc. now owns 14,987,351 shares of the company's stock valued at $316,233,000 after buying an additional 4,955,941 shares during the period. Geode Capital Management LLC grew its position in AST SpaceMobile by 7.0% during the fourth quarter. Geode Capital Management LLC now owns 3,496,825 shares of the company's stock valued at $73,801,000 after buying an additional 229,759 shares during the period. State Street Corp grew its position in AST SpaceMobile by 14.8% during the third quarter. State Street Corp now owns 3,091,577 shares of the company's stock valued at $80,845,000 after buying an additional 399,713 shares during the period. T. Rowe Price Investment Management Inc. acquired a new stake in shares of AST SpaceMobile in the fourth quarter valued at about $59,523,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of AST SpaceMobile by 11.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,266,713 shares of the company's stock valued at $26,728,000 after purchasing an additional 135,008 shares during the period. Institutional investors and hedge funds 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.