Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS – Get Free Report) were down 2.5% on Tuesday . The stock traded as low as $28.04 and last traded at $28.32. Approximately 3,425,146 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 9,734,790 shares. The stock had previously closed at $29.04.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on the company. UBS Group increased their price objective on AST SpaceMobile from $13.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft raised their price target on shares of AST SpaceMobile from $22.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday. B. Riley boosted their price objective on shares of AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, Scotiabank lifted their target price on shares of AST SpaceMobile from $28.00 to $45.90 and gave the stock a “sector outperform” rating in a research report on Monday, August 26th.
Get Our Latest Report on AST SpaceMobile
AST SpaceMobile Price Performance
Institutional Trading of AST SpaceMobile
Several large investors have recently added to or reduced their stakes in ASTS. BNP Paribas bought a new position in AST SpaceMobile in the first quarter worth approximately $43,000. Principal Financial Group Inc. purchased a new position in AST SpaceMobile during the first quarter valued at $45,000. Victory Capital Management Inc. purchased a new position in AST SpaceMobile during the fourth quarter valued at $65,000. Cantor Fitzgerald L. P. bought a new stake in AST SpaceMobile during the fourth quarter valued at about $66,000. Finally, Rathbones Group PLC purchased a new stake in AST SpaceMobile in the fourth quarter worth about $76,000. 60.95% of the stock is currently owned by institutional investors.
About AST SpaceMobile
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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