AST SpaceMobile (NASDAQ:ASTS) Stock Price Down 1.3% – Should You Sell?

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

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ASTS shares. UBS Group raised their price target on AST SpaceMobile from $31.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Scotiabank reiterated an “outperform” rating on shares of AST SpaceMobile in a research report on Wednesday, March 5th. Finally, 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. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, AST SpaceMobile presently has an average rating of “Buy” and a consensus price target of $42.98.

AST SpaceMobile Trading Down 1.9 %

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 business’s fifty day moving average is $26.01 and its 200-day moving average is $25.13. The firm has a market cap of $9.10 billion, a P/E ratio of -13.54 and a beta of 1.62.

Insider Buying and Selling

In other AST SpaceMobile news, Director Julio A. Torres sold 20,000 shares of AST SpaceMobile stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $30.73, for a total transaction of $614,600.00. Following the transaction, the director now directly owns 52,628 shares of the company’s stock, valued at approximately $1,617,258.44. The trade was a 27.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 41.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ASTS. Victory Capital Management Inc. increased its holdings in shares of AST SpaceMobile by 97.4% during the third quarter. Victory Capital Management Inc. now owns 30,680 shares of the company’s stock valued at $802,000 after acquiring an additional 15,138 shares in the last quarter. Swiss National Bank purchased a new stake in shares of AST SpaceMobile in the third quarter valued at about $6,911,000. Intech Investment Management LLC purchased a new position in AST SpaceMobile during the third quarter worth about $957,000. Charles Schwab Investment Management Inc. grew its position in 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 purchasing an additional 787,566 shares in the last quarter. Finally, Kingsview Wealth Management LLC purchased a new stake in AST SpaceMobile in the 3rd quarter valued at about $586,000. Institutional investors and hedge funds 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.