AST SpaceMobile (NASDAQ:ASTS) Trading Down 7.6% - Should You Sell?

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report)'s share price was down 7.6% during trading on Monday . The stock traded as low as $22.30 and last traded at $21.62. Approximately 755,453 shares changed hands during mid-day trading, a decline of 94% from the average daily volume of 12,382,602 shares. The stock had previously closed at $23.39.

Analysts Set New Price Targets

ASTS has been the subject of several analyst reports. Cantor Fitzgerald restated an "overweight" rating and set a $30.00 price target on shares of AST SpaceMobile in a report on Tuesday, March 4th. UBS Group raised their price objective on shares of AST SpaceMobile from $31.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. Scotiabank reiterated an "outperform" rating on shares of AST SpaceMobile in a report on Wednesday, March 5th. Finally, Roth Capital initiated coverage on shares of AST SpaceMobile in a report on Thursday, April 10th. They issued a "buy" rating and a $42.00 price objective for the company. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, AST SpaceMobile has an average rating of "Buy" and a consensus target price of $42.82.

AST SpaceMobile Price 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 firm's fifty day moving average price is $25.55 and its two-hundred day moving average price is $24.58. The stock has a market capitalization of $7.52 billion, a PE ratio of -11.21 and a beta of 1.81.

Insider Transactions at AST SpaceMobile

In other AST SpaceMobile news, Director Julio A. Torres sold 20,000 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $30.73, for a total value of $614,600.00. Following the completion of the transaction, the director now directly owns 52,628 shares in the company, valued at $1,617,258.44. This represents a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 41.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of AST SpaceMobile by 49.4% in the fourth quarter. Vanguard Group Inc. now owns 14,987,351 shares of the company's stock valued at $316,233,000 after acquiring an additional 4,955,941 shares in the last quarter. Geode Capital Management LLC boosted its stake in AST SpaceMobile by 7.0% in the 4th quarter. Geode Capital Management LLC now owns 3,496,825 shares of the company's stock worth $73,801,000 after purchasing an additional 229,759 shares during the period. T. Rowe Price Investment Management Inc. purchased a new stake in AST SpaceMobile during the 4th quarter valued at approximately $59,523,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of AST SpaceMobile by 11.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,266,713 shares of the company's stock worth $26,728,000 after buying an additional 135,008 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of AST SpaceMobile by 8.8% during the fourth quarter. Northern Trust Corp now owns 1,233,056 shares of the company's stock worth $26,017,000 after acquiring an additional 100,153 shares during the last quarter. Hedge funds and other 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.