AST SpaceMobile, Inc. (NASDAQ:ASTS – Get Free Report)’s share price fell 0.7% during mid-day trading on Tuesday . The company traded as low as $21.42 and last traded at $21.66. 1,283,670 shares were traded during mid-day trading, a decline of 88% from the average session volume of 10,290,994 shares. The stock had previously closed at $21.81.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on ASTS shares. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of AST SpaceMobile from $22.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Scotiabank cut their price objective on AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating on the stock in a research report on Friday, November 15th. Finally, UBS Group upped their target price on AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a report on Friday, November 15th.
Read Our Latest Analysis on AST SpaceMobile
AST SpaceMobile Stock Performance
Insider Buying and Selling
In other AST SpaceMobile news, CTO Huiwen Yao sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $24.26, for a total transaction of $1,091,700.00. Following the completion of the transaction, the chief technology officer now owns 55,000 shares of the company’s stock, valued at approximately $1,334,300. This trade represents a 45.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 41.80% of the stock is owned by insiders.
Institutional Trading of AST SpaceMobile
Hedge funds have recently made changes to their positions in the stock. Fairfield Financial Advisors LTD bought a new position in AST SpaceMobile in the 3rd quarter worth about $26,000. Hollencrest Capital Management purchased a new position in AST SpaceMobile in the third quarter worth about $26,000. Rakuten Securities Inc. bought a new position in shares of AST SpaceMobile in the third quarter worth approximately $68,000. Sunbelt Securities Inc. grew its holdings in shares of AST SpaceMobile by 3,380.0% during the third quarter. Sunbelt Securities Inc. now owns 3,480 shares of the company’s stock valued at $91,000 after buying an additional 3,380 shares during the last quarter. Finally, KBC Group NV bought a new stake in shares of AST SpaceMobile during the third quarter valued at approximately $104,000. 60.95% of the stock is owned by institutional investors.
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.
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