AST SpaceMobile (NASDAQ:ASTS) Shares Down 4.9% - Here's What Happened

On Friday, shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) fell by 4.9%. The stock reached a low of $29.64 during the day before recovering slightly to close at $30.10. During this trading session, about 3,592,535 shares exchanged hands, which is a significant drop of 69% compared to the average daily volume of 11,448,361 shares. The stock had previously ended the day at $31.63.

Market Perspectives on AST SpaceMobile

AST SpaceMobile has been analyzed by various research firms. Recently, UBS Group increased their price target for ASTS from $30.00 to $31.00 and maintained a "buy" rating. This update came in a report dated November 15th. Moreover, Cantor Fitzgerald began covering AST SpaceMobile on February 6th, issuing an "overweight" rating with a target price also set at $30.00. In contrast, Scotiabank lowered their target price from $44.70 to $40.20, suggesting a "sector outperform" rating. Overall, five analysts have given the stock a "buy" rating, and data from MarketBeat.com reveals that the company holds an average rating of "Buy" with a consensus price target of $40.04.

AST SpaceMobile Stock Details

As for its trading performance, AST SpaceMobile's 50-day moving average is currently at $23.87, while the 200-day moving average stands at $25.28. Financially, the company has a debt-to-equity ratio of 0.31 and boasts a current ratio and quick ratio, both at 5.80. The market capitalization of AST SpaceMobile is $8.30 billion, with a PE ratio of -13.51 and a beta of 1.62, indicating a higher volatility compared to the overall market.

Institutional Investors and Their Influence

An increasing number of hedge funds and institutional investors have adjusted their positions in AST SpaceMobile recently. First Heartland Consultants Inc. enhanced their stake by 42.3% during the last quarter, acquiring an additional 4,311 shares for a total of 14,499 shares worth about $306,000. PharVision Advisers LLC also entered a new investment in AST SpaceMobile valued at approximately $541,000. Furthermore, UBS Asset Management boosted its stake by 49.7%, now owning 275,810 shares valued at $5,820,000. Other notable moves include Twinbeech Capital LP and Two Sigma Investments LP, with increases of approximately $4,684,000 and 117.5%, respectively. Currently, institutional investors control 60.95% of AST SpaceMobile's stock.

About AST SpaceMobile

AST SpaceMobile, Inc. specializes in developing and providing a space-based cellular broadband network aimed at smartphone users throughout the United States. Their service is designed to support users lacking terrestrial cellular coverage. Founded in 2017, the company operates from Midland, Texas.

Conclusion

This information is meant to provide an overview of AST SpaceMobile's recent market activity and the analysts' views surrounding it. The fluctuations in share prices and the changing price targets highlight the dynamic nature of the stock market.

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