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

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) shares gapped down before the market opened on Friday . The stock had previously closed at $32.18, but opened at $31.40. AST SpaceMobile shares last traded at $31.51, with a volume of 2,479,921 shares trading hands.Get AST SpaceMobile alerts:Analysts Set New Price Targets4 Stocks Up 20%+ in the Last Month—Is More Growth Ahead?Several brokerages have commented on ASTS. Cantor Fitzgerald restated an "overweight" rating and set a $30.00 price objective on shares of AST SpaceMobile in a research report on Tuesday, March 4th. Scotiabank boosted their price objective on shares of AST SpaceMobile from $40.20 to $47.90 and gave the company a "sector outperform" rating in a research report on Wednesday. Finally, UBS Group boosted their price objective on shares of AST SpaceMobile from $31.00 to $38.00 and gave the company a "buy" rating in a research report on Wednesday. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $42.98.Get Our Latest Stock Report on ASTSAST SpaceMobile Stock Up 3.8 %MarketBeat Week in Review – 02/24 - 02/28The firm's fifty day moving average price is $24.93 and its 200-day moving average price is $25.48. The company has a market capitalization of $9.68 billion, a price-to-earnings ratio of -15.75 and a beta of 1.62. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80. Institutional Inflows and OutflowsSeveral institutional investors have recently modified their holdings of ASTS. Hollencrest Capital Management acquired a new stake in AST SpaceMobile in the third quarter valued at $26,000. Summit Securities Group LLC acquired a new stake in AST SpaceMobile in the fourth quarter valued at $37,000. Bernard Wealth Management Corp. acquired a new stake in AST SpaceMobile in the fourth quarter valued at $42,000. Golden State Wealth Management LLC acquired a new stake in AST SpaceMobile in the fourth quarter valued at $46,000. Finally, CIBC Private Wealth Group LLC increased its holdings in AST SpaceMobile by 106.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company's stock valued at $53,000 after purchasing an additional 1,222 shares during the period. 60.95% of the stock is currently owned by institutional investors and hedge funds. AST SpaceMobile Company Profile (Get Free Report)AST SpaceMobile Stock Surges 17% After Analyst UpgradeAST 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.See AlsoFive stocks we like better than AST SpaceMobileHow Technical Indicators Can Help You Find Oversold Stocks These 4 Tech ETFs Just Hit 50-Day Lows—Time to Buy?10 Best Airline Stocks to Buy3 Stocks to Buy While Others Stay on the SidelinesHow to Invest in Insurance Companies: A Guide MarketBeat Week in Review – 03/03 - 03/07This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in AST SpaceMobile Right Now?Before you consider AST SpaceMobile, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and AST SpaceMobile wasn't on the list.While AST SpaceMobile currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here