AST SpaceMobile (NASDAQ:ASTS) Stock Price Down 3.9% - Time to Sell?

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) fell 3.9% during trading on Monday . The company traded as low as $26.10 and last traded at $27.52. 6,383,844 shares changed hands during mid-day trading, a decline of 44% from the average session volume of 11,466,841 shares. The stock had previously closed at $28.64.

Analysts Set New Price Targets

Several brokerages recently commented on ASTS. UBS Group boosted their price objective on shares of AST SpaceMobile from $30.00 to $31.00 and gave the company a "buy" rating in a research note on Friday, November 15th. Cantor Fitzgerald raised shares of AST SpaceMobile to a "strong-buy" rating in a research note on Tuesday. Finally, Scotiabank cut their price target on shares of AST SpaceMobile from $44.70 to $40.20 and set a "sector outperform" rating for the company in a research note on Friday, January 24th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $40.04.

AST SpaceMobile Stock Up 3.9 %

The company has a market cap of $7.85 billion, a PE ratio of -12.79 and a beta of 1.62. 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's 50 day moving average price is $24.21 and its 200-day moving average price is $25.47.

Institutional Investors Weigh In On AST SpaceMobile

Institutional investors have recently added to or reduced their stakes in the company. Fairfield Financial Advisors LTD purchased a new stake in AST SpaceMobile during the 3rd quarter valued at $26,000. Hollencrest Capital Management purchased a new stake in AST SpaceMobile during the 3rd quarter valued at $26,000. Summit Securities Group LLC purchased a new stake in AST SpaceMobile during the 4th quarter valued at $37,000. Bernard Wealth Management Corp. purchased a new stake in AST SpaceMobile during the 4th quarter valued at $42,000. Finally, Golden State Wealth Management LLC purchased a new stake in AST SpaceMobile during the 4th quarter valued at $46,000. 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.