AST SpaceMobile (NASDAQ:ASTS) Trading Down 1.3% - What's Next?

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) was down 1.3% during trading on Tuesday . The company traded as low as $28.65 and last traded at $28.93. Approximately 1,906,312 shares changed hands during 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 equities analysts recently issued reports on ASTS shares. Cantor Fitzgerald reiterated an "overweight" rating and issued a $30.00 target price on shares of AST SpaceMobile in a research note on Tuesday, March 4th. Scotiabank reissued an "outperform" rating on shares of AST SpaceMobile in a research note on Wednesday, March 5th. Finally, UBS Group raised their target price on AST SpaceMobile from $31.00 to $38.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $42.98.

AST SpaceMobile Price Performance

The stock's 50-day simple moving average is $26.45 and its two-hundred day simple moving average is $25.13. The company has a market capitalization of $7.61 billion, a price-to-earnings ratio of -11.35 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.

Insider Buying and Selling

In other AST SpaceMobile 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 completion of 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 41.80% of the company's stock.

Hedge Funds Weigh In On AST SpaceMobile

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in 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 purchasing an additional 4,955,941 shares during the last quarter. 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. Charles Schwab Investment Management Inc. lifted its stake in shares of AST SpaceMobile by 228.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,131,705 shares of the company's stock worth $29,594,000 after buying an additional 787,566 shares in the last quarter. State Street Corp boosted 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 worth $80,845,000 after acquiring an additional 399,713 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in AST SpaceMobile by 9.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,267,066 shares of the company's stock valued at $85,450,000 after acquiring an additional 281,749 shares in the last quarter. Hedge funds and other institutional investors 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.