AST SpaceMobile (NASDAQ:ASTS) Shares Down 0.3% - Should You Sell?

AST SpaceMobile, Inc. (NASDAQ:ASTS) shares dipped by 0.3% during trading on Friday. The stock reached a low of $23.05 before settling at $23.25 at the end of the day. During mid-day trading, 1,386,769 shares exchanged hands, which is significantly lower—by about 87%—than the usual daily volume of 10,472,276 shares. The previous closing price was noted at $23.33.

Expert Opinions on AST SpaceMobile

Wall Street Analysts Forecast Growth

Several research firms have recently discussed AST SpaceMobile's prospects. UBS Group raised its price target for AST SpaceMobile from $30.00 to $31.00, maintaining a "buy" rating. In earlier reports, B. Riley increased its target from $26.00 to $36.00, while Deutsche Bank significantly raised its target from $22.00 to $63.00, both giving the stock a "buy" rating. However, Scotiabank lowered its price target from $45.90 to $44.70, yet still considers it a "sector outperform."

AST SpaceMobile Price Performance

The current market capitalization of AST SpaceMobile stands at $6.77 billion. The company reports a PE ratio of -10.97 and a beta of 1.60. Its fifty-day simple moving average is $24.72, and the two-hundred day simple moving average sits at $21.04. Additionally, with a debt-to-equity ratio of 0.31, the company also shows healthy liquidity ratios, with a quick ratio and current ratio both at 5.80.

Insider Activity at AST SpaceMobile

Recent insider transactions revealed that CTO Huiwen Yao sold 45,000 shares of the company's stock on October 8th for approximately $1.09 million. Post-transaction, Yao retained ownership of 55,000 shares, valued around $1.33 million, representing a 45% reduction in their holdings. Likewise, COO Shanti B. Gupta sold 80,000 shares at an average price of $25.83, totaling about $2.07 million, leading to a 16.91% decrease in Gupta's position. In the last 90 days, insiders sold 127,700 shares worth $3.22 million, and they own 41.80% of the company’s stock.

Institutional Investment Trends

Several hedge funds have made recent adjustments to their positions in AST SpaceMobile. Notably, B. Riley Wealth Advisors bought a new stake worth $278,000 during Q2. Van ECK Associates increased their holdings by 141.1% in Q3, bringing their total ownership to 103,437 shares valued at $2.72 million. Other firms like Algert Global LLC and Americana Partners LLC also added new stakes, contributing to a collective 60.95% ownership by institutional investors.

About AST SpaceMobile

AST SpaceMobile, Inc. focuses on developing and providing access to a space-based cellular broadband network for smartphones, particularly for users without terrestrial cellular coverage in the United States. Established in 2017, the company is based in Midland, Texas.

This summary aims to provide clarity on AST SpaceMobile’s current stock performance and the general outlook provided by market analysts. Investors should consider all factors before making decisions about their investments in AST SpaceMobile.

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