AST SpaceMobile (NASDAQ:ASTS) Stock Price Down 7.8% - Time to Sell?

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) was down 7.8% during trading on Tuesday . The company traded as low as $25.83 and last traded at $26.35. Approximately 5,593,033 shares traded hands during trading, a decline of 52% from the average daily volume of 11,541,795 shares. The stock had previously closed at $28.57.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ASTS. Cantor Fitzgerald raised shares of AST SpaceMobile to a "strong-buy" rating in a research report on Tuesday. UBS Group increased their price target on shares of AST SpaceMobile from $30.00 to $31.00 and gave the stock a "buy" rating in a research note on Friday, November 15th. Finally, Scotiabank lowered their price objective on shares of AST SpaceMobile from $44.70 to $40.20 and set a "sector outperform" rating for the company in a research note on Friday, January 24th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, AST SpaceMobile currently has an average rating of "Buy" and a consensus price target of $40.04.

AST SpaceMobile Stock Up 3.9 %

The stock has a fifty day moving average price of $24.21 and a 200-day moving average price of $25.47. The firm has a market cap of $7.85 billion, a PE ratio of -12.79 and a beta of 1.62. 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 Investors Weigh In On AST SpaceMobile

Several institutional investors have recently bought and sold shares of ASTS. Bernard Wealth Management Corp. purchased a new position in shares of AST SpaceMobile in the 4th quarter valued at $42,000. First Heartland Consultants Inc. increased its holdings in AST SpaceMobile by 42.3% in the 4th quarter. First Heartland Consultants Inc. now owns 14,499 shares of the company's stock valued at $306,000 after purchasing an additional 4,311 shares in the last quarter. PharVision Advisers LLC purchased a new position in AST SpaceMobile in the fourth quarter valued at about $541,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of AST SpaceMobile by 49.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 275,810 shares of the company's stock worth $5,820,000 after purchasing an additional 91,536 shares in the last quarter. Finally, Twinbeech Capital LP purchased a new stake in shares of AST SpaceMobile in the fourth quarter worth about $4,684,000. 60.95% of the stock is currently 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.