AST SpaceMobile (NASDAQ:ASTS) Trading Down 4.1% – What’s Next?

AST SpaceMobile, Inc. (NASDAQ:ASTS) shares traded down 4.1% during mid-day trading on Tuesday . The stock traded as low as $29.28 and last traded at $29.86. 6,075,975 shares were traded during mid-day trading, a decline of 46% from the average session volume of 11,263,486 shares. The stock had previously closed at $31.14.

Analysts Set New Price Targets

A number of brokerages recently commented on ASTS. Cantor Fitzgerald initiated coverage on shares of AST SpaceMobile in a research note on Thursday, February 6th. They set an “overweight” rating and a $30.00 price target on the stock. UBS Group increased their target price on AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Finally, Scotiabank reduced their price target on AST SpaceMobile from $44.70 to $40.20 and set a “sector outperform” rating for the company in a research report on Friday, January 24th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $40.04.

AST SpaceMobile Stock Down 6.7 %

The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31. The firm has a market cap of $8.41 billion, a P/E ratio of -13.77 and a beta of 1.62. The stock’s fifty day moving average is $22.71 and its two-hundred day moving average is $24.61.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Fairfield Financial Advisors LTD purchased a new position in AST SpaceMobile during the third quarter worth about $26,000. Hollencrest Capital Management bought a new stake in shares of AST SpaceMobile during the 3rd quarter valued at about $26,000. Golden State Wealth Management LLC purchased a new position in shares of AST SpaceMobile during the fourth quarter worth about $46,000. AlphaQuest LLC bought a new position in shares of AST SpaceMobile in the fourth quarter worth approximately $67,000. Finally, Rakuten Securities Inc. purchased a new stake in AST SpaceMobile in the third quarter valued at approximately $68,000. Institutional investors own 60.95% of the company’s stock.

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.