AST SpaceMobile (NASDAQ:ASTS) Stock Price Down 7.6% – Time to Sell?

AST SpaceMobile, Inc. (NASDAQ:ASTS) traded down 7.6% during trading on Monday . The stock traded as low as $22.30 and last traded at $21.62. 755,453 shares traded hands during trading, a decline of 94% from the average session volume of 12,382,602 shares. The stock had previously closed at $23.39.

Analyst Upgrades and Downgrades

ASTS has been the topic of a number of research reports. Scotiabank reaffirmed an “outperform” rating on shares of AST SpaceMobile in a research note on Wednesday, March 5th. UBS Group lifted their target price on shares of AST SpaceMobile from $31.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $30.00 price objective on shares of AST SpaceMobile in a research report on Tuesday, March 4th. Finally, Roth Capital started coverage on shares of AST SpaceMobile in a research note on Thursday, April 10th. They set a “buy” rating and a $42.00 price target for the company. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $42.82.

AST SpaceMobile Stock Performance

The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $6.74 billion, a PE ratio of -10.05 and a beta of 1.81. The company has a 50-day moving average price of $26.05 and a two-hundred day moving average price of $24.60.

Insider Activity

In other AST SpaceMobile news, Director Julio A. Torres sold 20,000 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $30.73, for a total value of $614,600.00. Following the sale, the director now owns 52,628 shares of the company’s stock, valued at $1,617,258.44. This trade represents a 27.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 41.80% of the stock is owned by company insiders.

Institutional Trading of AST SpaceMobile

Several institutional investors and hedge funds have recently made changes to their positions in ASTS. GAMMA Investing LLC grew its holdings in shares of AST SpaceMobile by 388.7% during the 1st quarter. GAMMA Investing LLC now owns 1,559 shares of the company’s stock valued at $35,000 after purchasing an additional 1,240 shares during the last quarter. Summit Securities Group LLC purchased a new position in shares of AST SpaceMobile in the 4th quarter valued at approximately $37,000. Bernard Wealth Management Corp. purchased a new position in AST SpaceMobile during the fourth quarter valued at $42,000. UMB Bank n.a. bought a new position in shares of AST SpaceMobile in the 1st quarter worth about $45,000. Finally, ORG Partners LLC bought a new position in AST SpaceMobile in the 1st quarter valued at approximately $48,000. Hedge funds and other institutional investors own 60.95% of the company’s stock.

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.