AST SpaceMobile, Inc. (NASDAQ:ASTS – Get Free Report)’s share price fell 0.2% during trading on Monday . The company traded as low as $27.16 and last traded at $28.10. 3,448,410 shares were traded during trading, a decline of 71% from the average session volume of 11,892,445 shares. The stock had previously closed at $28.15.
Analysts Set New Price Targets
Several brokerages recently weighed in on ASTS. Scotiabank reaffirmed an “outperform” rating on shares of AST SpaceMobile in a report on Wednesday, March 5th. UBS Group boosted their target price on shares of AST SpaceMobile from $31.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $30.00 price target on shares of AST SpaceMobile in a report on Tuesday, March 4th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $42.98.
View Our Latest Report on AST SpaceMobile
AST SpaceMobile Trading Up 1.3 %
Insider Activity
In other AST SpaceMobile news, Director Julio A. Torres sold 20,000 shares of AST SpaceMobile stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $30.73, for a total transaction of $614,600.00. Following the completion of the transaction, the director now owns 52,628 shares in the company, valued at approximately $1,617,258.44. The trade was a 27.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 41.80% of the company’s stock.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in the business. Summit Securities Group LLC acquired a new stake in shares of AST SpaceMobile in the fourth quarter worth approximately $37,000. Bernard Wealth Management Corp. purchased a new position in shares of AST SpaceMobile in the 4th quarter worth $42,000. Golden State Wealth Management LLC acquired a new position in AST SpaceMobile in the fourth quarter valued at $46,000. CIBC Private Wealth Group LLC grew its position in AST SpaceMobile by 106.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company’s stock valued at $53,000 after acquiring an additional 1,222 shares during the period. Finally, AlphaQuest LLC acquired a new stake in AST SpaceMobile during the fourth quarter worth about $67,000. Hedge funds and other institutional investors own 60.95% of the company’s stock.
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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