AST SpaceMobile (NASDAQ:ASTS) Trading Down 3.9% - Should You Sell?

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report)'s share price traded down 3.9% during mid-day trading on Monday . The company traded as low as $26.10 and last traded at $27.52. 6,383,844 shares traded hands during mid-day trading, a decline of 44% from the average session volume of 11,466,841 shares. The stock had previously closed at $28.64.

Analyst Ratings Changes

ASTS has been the topic of a number of recent analyst reports. Scotiabank dropped their price objective on AST SpaceMobile from $44.70 to $40.20 and set a "sector outperform" rating on the stock in a report on Friday, January 24th. UBS Group upped their price objective on shares of AST SpaceMobile from $30.00 to $31.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. Finally, Cantor Fitzgerald upgraded shares of AST SpaceMobile to a "strong-buy" rating in a research report on Tuesday. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, AST SpaceMobile presently has a consensus rating of "Buy" and an average price target of $40.04.

AST SpaceMobile Stock Down 0.3 %

The firm has a market capitalization of $7.87 billion, a PE ratio of -12.80 and a beta of 1.62. The firm's 50-day moving average is $24.07 and its 200 day moving average is $25.41. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its position 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. acquired a new stake in shares of AST SpaceMobile during the 4th quarter worth about $59,523,000. Privium Fund Management B.V. purchased a new stake in shares of AST SpaceMobile during the third quarter worth about $21,476,000. Charles Schwab Investment Management Inc. raised its position 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 valued at $29,594,000 after buying an additional 787,566 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of 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. 60.95% of the stock is owned by hedge funds and other 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.