AST SpaceMobile, Inc. (NASDAQ:ASTS – Get Free Report) shares fell 4.4% during trading on Tuesday . The company traded as low as $2.32 and last traded at $2.37. 868,862 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 4,046,051 shares. The stock had previously closed at $2.48.
Analysts Set New Price Targets
A number of research firms recently commented on ASTS. Deutsche Bank Aktiengesellschaft decreased their price objective on AST SpaceMobile from $23.00 to $19.00 and set a “buy” rating on the stock in a report on Wednesday, April 3rd. Scotiabank decreased their price objective on AST SpaceMobile from $7.50 to $7.40 and set a “sector outperform” rating on the stock in a report on Tuesday, April 2nd. Finally, UBS Group began coverage on AST SpaceMobile in a report on Friday, March 8th. They issued a “buy” rating and a $7.00 price objective on the stock.
Read Our Latest Report on AST SpaceMobile
AST SpaceMobile Trading Down 6.5 %
AST SpaceMobile (NASDAQ:ASTS – Get Free Report) last announced its earnings results on Monday, April 1st. The company reported ($0.35) earnings per share (EPS) for the quarter. On average, analysts predict that AST SpaceMobile, Inc. will post -0.62 EPS for the current fiscal year.
Institutional Trading of AST SpaceMobile
A number of large investors have recently modified their holdings of ASTS. Broad Run Investment Management LLC grew its stake in shares of AST SpaceMobile by 74.8% during the fourth quarter. Broad Run Investment Management LLC now owns 3,962,853 shares of the company’s stock worth $23,896,000 after purchasing an additional 1,695,805 shares in the last quarter. Hudson Bay Capital Management LP grew its stake in shares of AST SpaceMobile by 31.3% during the third quarter. Hudson Bay Capital Management LP now owns 1,051,615 shares of the company’s stock worth $3,996,000 after purchasing an additional 250,389 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of AST SpaceMobile by 37.3% during the third quarter. Bank of New York Mellon Corp now owns 258,898 shares of the company’s stock worth $984,000 after purchasing an additional 70,276 shares in the last quarter. Dark Forest Capital Management LP grew its stake in shares of AST SpaceMobile by 110.5% during the third quarter. Dark Forest Capital Management LP now owns 240,245 shares of the company’s stock worth $913,000 after purchasing an additional 126,102 shares in the last quarter. Finally, Capstone Investment Advisors LLC acquired a new position in shares of AST SpaceMobile during the first quarter worth $580,000. Hedge funds and other institutional investors 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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