AST SpaceMobile, Inc. (NASDAQ:ASTS – Get Free Report)’s share price rose 3% during mid-day trading on Wednesday . The company traded as high as $2.10 and last traded at $2.08. Approximately 537,128 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 4,430,538 shares. The stock had previously closed at $2.02.
Analyst Ratings Changes
ASTS has been the topic of a number of recent analyst reports. Scotiabank cut their target price on shares of AST SpaceMobile from $7.50 to $7.40 and set a “sector outperform” rating on the stock in a research note on Tuesday, April 2nd. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of AST SpaceMobile from $23.00 to $19.00 and set a “buy” rating for the company in a research report on Wednesday, April 3rd. Finally, UBS Group began coverage on shares of AST SpaceMobile in a research report on Friday, March 8th. They set a “buy” rating and a $7.00 price objective for the company.
Get Our Latest Report on AST SpaceMobile
AST SpaceMobile Stock Down 2.8 %
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of ASTS. Royal Bank of Canada grew its position in AST SpaceMobile by 357.3% in the 3rd quarter. Royal Bank of Canada now owns 3,576 shares of the company’s stock worth $26,000 after purchasing an additional 2,794 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of AST SpaceMobile by 120.6% in the third quarter. Tower Research Capital LLC TRC now owns 7,128 shares of the company’s stock valued at $27,000 after acquiring an additional 3,897 shares in the last quarter. UBS Group AG boosted its holdings in shares of AST SpaceMobile by 45.3% in the first quarter. UBS Group AG now owns 4,222 shares of the company’s stock valued at $42,000 after acquiring an additional 1,316 shares in the last quarter. Bayesian Capital Management LP bought a new position in shares of AST SpaceMobile in the second quarter valued at approximately $56,000. Finally, Squarepoint Ops LLC bought a new position in shares of AST SpaceMobile in the fourth quarter valued at approximately $57,000. Institutional investors own 60.95% of the company’s stock.
About AST SpaceMobile
AST SpaceMobile, Inc, together with its subsidiaries, operates space-based cellular broadband network for mobile phones in the United States. Its SpaceMobile service provides mobile broadband services to end-users who are out of terrestrial cellular coverage. AST SpaceMobile, Inc was founded in 2017 and is based in Midland, Texas.
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