AST SpaceMobile (NASDAQ:ASTS) Trading Down 4.4%

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) dropped 4.4% during mid-day trading on Monday . The stock traded as low as $2.12 and last traded at $2.16. Approximately 2,239,709 shares were traded during trading, a decline of 43% from the average daily volume of 3,937,611 shares. The stock had previously closed at $2.26.

Wall Street Analyst Weigh In

ASTS has been the topic of several analyst reports. Scotiabank decreased their price objective on AST SpaceMobile from $7.50 to $7.40 and set a "sector outperform" rating on the stock in a report on Tuesday, April 2nd. Deutsche Bank Aktiengesellschaft cut their target price on AST SpaceMobile from $23.00 to $19.00 and set a "buy" rating on the stock in a research report on Wednesday, April 3rd. Finally, UBS Group began coverage on AST SpaceMobile in a research report on Friday, March 8th. They issued a "buy" rating and a $7.00 target price on the stock.

AST SpaceMobile Stock Performance

The company has a debt-to-equity ratio of 0.28, a current ratio of 2.31 and a quick ratio of 2.31. The firm has a 50-day moving average of $2.52 and a two-hundred day moving average of $3.61.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last issued its quarterly earnings data on Monday, April 1st. The company reported ($0.35) EPS for the quarter. Equities research analysts expect that AST SpaceMobile, Inc. will post -0.62 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. State Board of Administration of Florida Retirement System lifted its stake in shares of AST SpaceMobile by 33.4% during the third quarter. State Board of Administration of Florida Retirement System now owns 22,940 shares of the company's stock worth $87,000 after purchasing an additional 5,740 shares in the last quarter. Victory Capital Management Inc. acquired a new position in shares of AST SpaceMobile during the fourth quarter worth about $65,000. Cantor Fitzgerald L. P. acquired a new position in shares of AST SpaceMobile in the fourth quarter worth about $66,000. Rathbones Group PLC acquired a new position in shares of AST SpaceMobile in the fourth quarter worth about $76,000. Finally, BNP Paribas acquired a new position in shares of AST SpaceMobile in the first quarter worth about $43,000. Institutional investors and hedge funds 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.

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