AST SpaceMobile (NASDAQ:ASTS) Trading Down 1.9% - What's Next?

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report)'s share price traded down 1.9% during trading on Wednesday . The company traded as low as $27.46 and last traded at $27.85. 4,178,547 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 11,289,271 shares. The stock had previously closed at $28.40.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Scotiabank decreased their target price on AST SpaceMobile from $44.70 to $40.20 and set a "sector outperform" rating for the company in a research report on Friday, January 24th. UBS Group boosted their target price on AST SpaceMobile from $30.00 to $31.00 and gave the company a "buy" rating in a research report on Friday, November 15th. Finally, Cantor Fitzgerald assumed coverage on AST SpaceMobile in a research report on Thursday, February 6th. They issued an "overweight" rating and a $30.00 target price for the company. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $40.04.

AST SpaceMobile Price Performance

The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31. The business has a fifty day simple moving average of $23.20 and a 200 day simple moving average of $24.83. The stock has a market capitalization of $9.30 billion, a P/E ratio of -15.14 and a beta of 1.62.

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Institutional Trading of AST SpaceMobile

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ASTS. Vanguard Group Inc. increased its holdings in AST SpaceMobile by 49.4% during the 4th quarter. Vanguard Group Inc. now owns 14,987,351 shares of the company's stock worth $316,233,000 after purchasing an additional 4,955,941 shares in the last quarter. T. Rowe Price Investment Management Inc. purchased a new position in shares of AST SpaceMobile in the 4th quarter worth approximately $59,523,000. Privium Fund Management B.V. purchased a new position in shares of AST SpaceMobile in the 3rd quarter worth approximately $21,476,000. Charles Schwab Investment Management Inc. boosted its stake in shares of AST SpaceMobile by 228.9% in the 3rd 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 during the last quarter. Finally, State Street Corp boosted its stake in shares of AST SpaceMobile by 14.8% in the 3rd quarter. State Street Corp now owns 3,091,577 shares of the company's stock worth $80,845,000 after buying an additional 399,713 shares during the last quarter. 60.95% of the stock is owned by institutional investors.

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.