AST SpaceMobile (NASDAQ:ASTS) Stock Price Down 4.9% - What's Next?

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report)'s stock price traded down 4.9% on Friday . The company traded as low as $29.64 and last traded at $30.10. 3,592,535 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 11,448,361 shares. The stock had previously closed at $31.63.

Wall Street Analyst Weigh In

Several brokerages have commented on ASTS. UBS Group raised 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. Cantor Fitzgerald began 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. Finally, 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. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $40.04.

AST SpaceMobile Stock Down 0.2 %

The company has a market capitalization of $8.28 billion, a P/E ratio of -13.48 and a beta of 1.62. The firm's 50 day moving average price is $23.96 and its two-hundred day moving average price is $25.36. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31.

Hedge Funds Weigh In On AST SpaceMobile

Hedge funds have recently made changes to their positions in the business. Hollencrest Capital Management bought a new position in shares of AST SpaceMobile during the 3rd quarter worth approximately $26,000. Fairfield Financial Advisors LTD bought a new position in shares of AST SpaceMobile in the third quarter valued at $26,000. Summit Securities Group LLC bought a new position in shares of AST SpaceMobile in the fourth quarter valued at $37,000. Golden State Wealth Management LLC bought a new position in shares of AST SpaceMobile in the fourth quarter valued at $46,000. Finally, CIBC Private Wealth Group LLC grew its stake in shares of AST SpaceMobile by 106.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company's stock valued at $53,000 after buying an additional 1,222 shares in 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.