AST SpaceMobile (NASDAQ:ASTS) Stock Price Down 3.6%

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) traded down 3.6% during mid-day trading on Monday . The stock traded as low as $30.74 and last traded at $31.69. 6,626,968 shares were traded during trading, a decline of 30% from the average session volume of 9,532,780 shares. The stock had previously closed at $32.86.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. UBS Group lifted their target price on shares of AST SpaceMobile from $13.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, August 15th. B. Riley boosted their target price on shares of AST SpaceMobile from $15.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Finally, Scotiabank boosted their price objective on shares of AST SpaceMobile from $28.00 to $45.90 and gave the company a “sector outperform” rating in a research report on Monday.

AST SpaceMobile Trading Down 10.4 %

The stock’s fifty day simple moving average is $18.20 and its 200-day simple moving average is $8.98. The firm has a market cap of $7.18 billion, a PE ratio of -29.70 and a beta of 1.61. The company has a debt-to-equity ratio of 0.56, a current ratio of 7.51 and a quick ratio of 7.51.

Hedge Funds Weigh In On AST SpaceMobile

A number of institutional investors and hedge funds have recently bought and sold shares of ASTS. B. Riley Wealth Advisors Inc. purchased a new stake in AST SpaceMobile during the 2nd quarter worth approximately $278,000. Scientech Research LLC purchased a new position in AST SpaceMobile during the 2nd quarter worth $774,000. Sender Co & Partners Inc. purchased a new stake in AST SpaceMobile during the second quarter worth about $177,000. The Manufacturers Life Insurance Company increased its holdings in AST SpaceMobile by 31.9% in the second quarter. The Manufacturers Life Insurance Company now owns 51,209 shares of the company’s stock valued at $595,000 after buying an additional 12,391 shares in the last quarter. Finally, Marshall Wace LLP increased its stake in shares of AST SpaceMobile by 150.4% during the 2nd quarter. Marshall Wace LLP now owns 126,685 shares of the company’s stock worth $1,471,000 after purchasing an additional 76,088 shares in the last quarter. 60.95% of the stock is currently owned by institutional investors and hedge funds.

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.