AST SpaceMobile (NASDAQ:ASTS) Shares Gap Down – Here’s What Happened

AST SpaceMobile, Inc. (NASDAQ:ASTSGet Free Report)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $20.14, but opened at $19.54. AST SpaceMobile shares last traded at $18.04, with a volume of 4,498,250 shares.

Wall Street Analyst Weigh In

ASTS has been the topic of several recent analyst reports. Scotiabank reduced their price objective on shares of AST SpaceMobile from $44.70 to $40.20 and set a “sector outperform” rating on the stock in a research report on Friday, January 24th. UBS Group upped their target price on shares of AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, November 15th.

Read Our Latest Stock Report on AST SpaceMobile

AST SpaceMobile Stock Performance

The company has a market capitalization of $5.21 billion, a price-to-earnings ratio of -8.47 and a beta of 1.64. The firm has a fifty day simple moving average of $22.76 and a 200 day simple moving average of $24.00. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80.

Hedge Funds Weigh In On AST SpaceMobile

Institutional investors and hedge funds have recently bought and sold shares of the company. Sei Investments Co. purchased a new position in AST SpaceMobile in the 2nd quarter valued at approximately $728,000. Marshall Wace LLP increased its holdings in shares of AST SpaceMobile by 150.4% in the second quarter. Marshall Wace LLP now owns 126,685 shares of the company’s stock valued at $1,471,000 after purchasing an additional 76,088 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of AST SpaceMobile by 31.9% in the second quarter. The Manufacturers Life Insurance Company now owns 51,209 shares of the company’s stock valued at $595,000 after acquiring an additional 12,391 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in AST SpaceMobile in the 2nd quarter valued at approximately $278,000. Finally, Miracle Mile Advisors LLC acquired a new position in AST SpaceMobile during the third quarter worth $328,000. 60.95% of the stock is currently owned by institutional investors and hedge funds.

AST SpaceMobile Company Profile

(Get Free Report)

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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