AST SpaceMobile (NASDAQ:ASTS) Shares Gap Down – Time to Sell?

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) gapped down prior to trading on Monday . The stock had previously closed at $24.06, but opened at $22.83. AST SpaceMobile shares last traded at $23.26, with a volume of 2,235,120 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ASTS shares. Scotiabank reaffirmed an “outperform” rating on shares of AST SpaceMobile in a report on Wednesday, March 5th. Cantor Fitzgerald reiterated an “overweight” rating and set a $30.00 price objective on shares of AST SpaceMobile in a research report on Tuesday, March 4th. Finally, UBS Group upped their price objective on shares of AST SpaceMobile from $31.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $42.98.

AST SpaceMobile Trading Down 3.9 %

The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80. The business has a fifty day moving average of $26.46 and a 200-day moving average of $25.04. The stock has a market capitalization of $6.92 billion, a price-to-earnings ratio of -10.31 and a beta of 1.62.

Insider Transactions at AST SpaceMobile

In other AST SpaceMobile news, Director Julio A. Torres sold 20,000 shares of AST SpaceMobile 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 transaction, the director now owns 52,628 shares in the company, valued at approximately $1,617,258.44. The trade was a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 41.80% of the company’s stock.

Institutional Investors Weigh In On AST SpaceMobile

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Summit Securities Group LLC acquired a new stake in shares of AST SpaceMobile during the fourth quarter valued at approximately $37,000. Bernard Wealth Management Corp. purchased a new stake in AST SpaceMobile in the 4th quarter worth approximately $42,000. Golden State Wealth Management LLC acquired a new stake in AST SpaceMobile during the fourth quarter valued at $46,000. CIBC Private Wealth Group LLC grew its stake in shares of AST SpaceMobile by 106.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company’s stock valued at $53,000 after buying an additional 1,222 shares in the last quarter. Finally, AlphaQuest LLC bought a new stake in AST SpaceMobile in the fourth quarter worth approximately $67,000. 60.95% of the stock is owned by institutional investors and hedge funds.

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.