AST SpaceMobile, Inc. (NASDAQ:ASTS – Get Free Report)’s share price dropped 14.9% during mid-day trading on Tuesday . The company traded as low as $31.91 and last traded at $32.85. Approximately 18,157,309 shares changed hands during mid-day trading, an increase of 99% from the average daily volume of 9,127,169 shares. The stock had previously closed at $38.60.
Wall Street Analyst Weigh In
ASTS has been the topic of a number of recent research reports. B. Riley lifted their target price on AST SpaceMobile from $15.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Scotiabank lifted their target price on AST SpaceMobile from $21.10 to $28.00 and gave the company a “sector outperform” rating in a research report on Friday. Finally, UBS Group lifted their target price on AST SpaceMobile from $13.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, August 15th.
Get Our Latest Stock Report on ASTS
AST SpaceMobile Price Performance
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the stock. BNP Paribas acquired a new position in shares of AST SpaceMobile during the 1st quarter worth approximately $43,000. Principal Financial Group Inc. acquired a new position in shares of AST SpaceMobile during the 1st quarter worth approximately $45,000. Summit Trail Advisors LLC acquired a new position in shares of AST SpaceMobile during the 1st quarter worth approximately $47,000. Victory Capital Management Inc. acquired a new position in shares of AST SpaceMobile during the 4th quarter worth approximately $65,000. Finally, Cantor Fitzgerald L. P. acquired a new position in shares of AST SpaceMobile during the 4th quarter worth approximately $66,000. Institutional investors and hedge funds own 60.95% of the company’s stock.
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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