AST SpaceMobile (NASDAQ:ASTS) Trading Down 1.3% – Time to Sell?

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s share price fell 1.3% on Tuesday . The company traded as low as $28.65 and last traded at $28.93. 1,906,312 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 12,066,075 shares. The stock had previously closed at $29.30.

Analysts Set New Price Targets

Several brokerages recently weighed in on ASTS. Cantor Fitzgerald restated an “overweight” rating and set a $30.00 target price on shares of AST SpaceMobile in a research note on Tuesday, March 4th. Scotiabank restated an “outperform” rating on shares of AST SpaceMobile in a research note on Wednesday, March 5th. Finally, UBS Group increased their price objective on shares of AST SpaceMobile from $31.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $42.98.

AST SpaceMobile Trading Down 5.5 %

The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80. The stock has a market cap of $8.17 billion, a PE ratio of -12.17 and a beta of 1.62. The company’s fifty day moving average is $26.28 and its 200-day moving average is $25.16.

Insider Buying and Selling

In other AST SpaceMobile news, Director Julio A. Torres sold 20,000 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $30.73, for a total transaction of $614,600.00. Following the completion of the transaction, the director now owns 52,628 shares of the company’s stock, valued at $1,617,258.44. This represents a 27.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 41.80% of the stock is owned by insiders.

Institutional Trading of AST SpaceMobile

A number of institutional investors have recently made changes to their positions in ASTS. Vanguard Group Inc. lifted its holdings in AST SpaceMobile by 49.4% in the 4th quarter. Vanguard Group Inc. now owns 14,987,351 shares of the company’s stock valued at $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 in the fourth quarter valued at about $59,523,000. Charles Schwab Investment Management Inc. lifted its stake 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 worth $29,594,000 after buying an additional 787,566 shares in the last quarter. State Street Corp boosted its position in AST SpaceMobile by 14.8% during the third quarter. State Street Corp now owns 3,091,577 shares of the company’s stock worth $80,845,000 after acquiring an additional 399,713 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in AST SpaceMobile by 9.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,267,066 shares of the company’s stock valued at $85,450,000 after acquiring an additional 281,749 shares in the last quarter. 60.95% of the stock is owned by institutional investors and hedge funds.

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.