AST SpaceMobile, Inc. (NASDAQ:ASTS – Get Free Report) shares were up 10.8% during trading on Tuesday . The company traded as high as $22.45 and last traded at $23.02. Approximately 2,654,041 shares traded hands during mid-day trading, a decline of 49% from the average daily volume of 5,198,360 shares. The stock had previously closed at $20.78.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on ASTS shares. UBS Group raised their price objective on AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Scotiabank reduced their target price on AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating for the company in a report on Friday, November 15th.
View Our Latest Stock Analysis on AST SpaceMobile
AST SpaceMobile Price Performance
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of ASTS. JPMorgan Chase & Co. boosted its stake in AST SpaceMobile by 235.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 247,781 shares of the company’s stock worth $6,479,000 after purchasing an additional 174,007 shares during the period. B. Riley Wealth Advisors Inc. bought a new position in shares of AST SpaceMobile during the second quarter valued at approximately $278,000. Van ECK Associates Corp boosted its position in AST SpaceMobile by 141.1% during the third quarter. Van ECK Associates Corp now owns 103,437 shares of the company’s stock valued at $2,716,000 after purchasing an additional 60,530 shares in the last quarter. Algert Global LLC purchased a new stake in shares of AST SpaceMobile during the third quarter valued at about $768,000. Finally, Americana Partners LLC bought a new position in shares of AST SpaceMobile during the 3rd quarter worth approximately $673,000. 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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