AST SpaceMobile (NASDAQ:ASTS) Shares Down 0.4% - Time to Sell?

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report)'s share price was down 0.4% during trading on Thursday . The stock traded as low as $24.81 and last traded at $25.54. Approximately 1,953,179 shares were traded during trading, a decline of 84% from the average daily volume of 11,912,093 shares. The stock had previously closed at $25.65.

Analysts Set New Price Targets

A number of brokerages have weighed in on ASTS. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $30.00 price target on shares of AST SpaceMobile in a research report on Tuesday, March 4th. UBS Group boosted their target price on 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 research report on Wednesday, March 5th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, AST SpaceMobile has an average rating of "Buy" and a consensus price target of $42.98.

AST SpaceMobile Stock Up 8.6 %

The firm's 50-day simple moving average is $25.84 and its 200-day simple moving average is $25.12. 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 company has a market capitalization of $8.84 billion, a price-to-earnings ratio of -13.17 and a beta of 1.62.

Insider Activity at AST SpaceMobile

In other news, Director Julio A. Torres sold 20,000 shares of the business'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 transaction of $614,600.00. Following the sale, the director now directly owns 52,628 shares in the company, valued at approximately $1,617,258.44. The trade was a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 41.80% of the company's stock.

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Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake 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 valued at $316,233,000 after buying an additional 4,955,941 shares in the last quarter. Geode Capital Management LLC increased its stake in 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 acquiring an additional 229,759 shares during the period. State Street Corp raised its position in AST SpaceMobile by 14.8% in the third 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. bought a new position in AST SpaceMobile during the fourth quarter worth about $59,523,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in AST SpaceMobile by 11.9% during the fourth 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 period. 60.95% of the stock is owned by institutional investors.

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.