AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report)'s stock price dropped 4.1% on Tuesday . The company traded as low as $29.28 and last traded at $29.86. Approximately 6,075,975 shares traded hands during trading, a decline of 46% from the average daily volume of 11,263,486 shares. The stock had previously closed at $31.14.
Analyst Upgrades and Downgrades
ASTS has been the topic of a number of research reports. Scotiabank dropped their target price on shares of 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 increased their target price on shares of AST SpaceMobile from $30.00 to $31.00 and gave the stock a "buy" rating in a report on Friday, November 15th. Finally, Cantor Fitzgerald initiated coverage on shares of AST SpaceMobile in a report on Thursday, February 6th. They set an "overweight" rating and a $30.00 target price on the stock. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $40.04.
Read Our Latest Analysis on ASTS
AST SpaceMobile Stock Performance
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 stock's fifty day moving average is $23.20 and its two-hundred day moving average is $24.83. The firm has a market cap of $9.30 billion, a price-to-earnings ratio of -15.14 and a beta of 1.62.
Institutional Trading of AST SpaceMobile
A number of large investors have recently modified their holdings of the company. FAS Wealth Partners Inc. acquired a new stake in shares of AST SpaceMobile in the 4th quarter worth about $540,000. Lido Advisors LLC acquired a new stake in shares of AST SpaceMobile in the 4th quarter worth about $370,000. Northern Trust Corp increased its holdings in shares of AST SpaceMobile by 8.8% in the 4th quarter. Northern Trust Corp now owns 1,233,056 shares of the company's stock worth $26,017,000 after acquiring an additional 100,153 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of AST SpaceMobile by 2.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 84,406 shares of the company's stock worth $1,781,000 after acquiring an additional 2,006 shares during the period. Finally, Quarry LP acquired a new stake in shares of AST SpaceMobile in the 4th quarter worth about $128,000. Institutional investors and hedge funds own 60.95% of the company's stock.
About AST SpaceMobile
(
Get Free Report)
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.
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