AST SpaceMobile (NASDAQ:ASTS) Shares Down 4.9% – Should You Sell?

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) dropped 4.9% during trading on Friday . The stock traded as low as $29.64 and last traded at $30.10. Approximately 3,592,535 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 11,448,361 shares. The stock had previously closed at $31.63.

Analyst Ratings Changes

ASTS has been the topic of several research analyst reports. Scotiabank decreased their price target on shares of AST SpaceMobile from $44.70 to $40.20 and set a “sector outperform” rating on the stock in a research note on Friday, January 24th. Cantor Fitzgerald initiated coverage on shares of AST SpaceMobile in a research note on Thursday, February 6th. They issued an “overweight” rating and a $30.00 price target on the stock. Finally, UBS Group boosted 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. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, AST SpaceMobile currently has an average rating of “Buy” and an average price target of $40.04.

AST SpaceMobile Stock Performance

The business’s fifty day moving average price is $23.87 and its two-hundred day moving average price is $25.28. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80. The stock has a market capitalization of $8.30 billion, a P/E ratio of -13.51 and a beta of 1.62.

Institutional Trading of AST SpaceMobile

A number of large investors have recently made changes to their positions in ASTS. Vanguard Group Inc. increased its holdings in shares of AST SpaceMobile by 49.4% in the 4th quarter. Vanguard Group Inc. now owns 14,987,351 shares of the company’s stock worth $316,233,000 after buying an additional 4,955,941 shares during the last quarter. T. Rowe Price Investment Management Inc. bought a new stake in shares of AST SpaceMobile in the 4th quarter worth about $59,523,000. Privium Fund Management B.V. bought a new stake in shares of AST SpaceMobile in the 3rd quarter worth about $21,476,000. Charles Schwab Investment Management Inc. increased its holdings in shares of AST SpaceMobile by 228.9% in the 3rd 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 during the last quarter. Finally, State Street Corp grew its holdings in AST SpaceMobile by 14.8% during the 3rd quarter. State Street Corp now owns 3,091,577 shares of the company’s stock valued at $80,845,000 after purchasing an additional 399,713 shares during the last quarter. 60.95% of the stock is currently owned by 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.