AST SpaceMobile (NASDAQ:ASTS) Shares Gap Down – What’s Next?

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s stock price 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.

Analysts Set New Price Targets

ASTS has been the subject of several analyst reports. Scotiabank reissued an “outperform” rating on shares of AST SpaceMobile in a report on Wednesday, March 5th. UBS Group increased their target price on AST SpaceMobile from $31.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $30.00 price target on shares of AST SpaceMobile in a research note on Tuesday, March 4th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $42.98.

AST SpaceMobile Trading Down 4.3 %

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 stock has a market cap of $7.29 billion, a PE ratio of -10.87 and a beta of 1.62. The business’s fifty day moving average is $26.45 and its 200 day moving average is $25.13.

Insider Transactions at AST SpaceMobile

In related news, Director Julio A. Torres sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was 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 of the company’s stock, valued at $1,617,258.44. This trade represents a 27.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 41.80% of the company’s stock.

Institutional Trading of AST SpaceMobile

Large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its position in shares of AST SpaceMobile by 235.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 247,781 shares of the company’s stock worth $6,479,000 after buying an additional 174,007 shares in the last quarter. 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 valued at $26,728,000 after purchasing an additional 135,008 shares in the last quarter. Handelsbanken Fonder AB acquired a new stake in shares of AST SpaceMobile in the fourth quarter valued at approximately $755,000. Van ECK Associates Corp grew its position in shares of AST SpaceMobile by 150.1% in the fourth quarter. Van ECK Associates Corp now owns 258,747 shares of the company’s stock valued at $5,460,000 after purchasing an additional 155,310 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of AST SpaceMobile by 57.6% during the 4th quarter. Bank of New York Mellon Corp now owns 641,678 shares of the company’s stock worth $13,539,000 after purchasing an additional 234,517 shares during the last quarter. 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.