AST SpaceMobile, Inc. (NASDAQ:ASTS – Get Free Report)’s share price was down 0.2% on Monday . The company traded as low as $27.16 and last traded at $28.10. Approximately 3,448,410 shares were traded during trading, a decline of 71% from the average daily volume of 11,892,445 shares. The stock had previously closed at $28.15.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on ASTS shares. Cantor Fitzgerald restated an “overweight” rating and set a $30.00 price objective on shares of AST SpaceMobile in a research note on Tuesday, March 4th. Scotiabank restated an “outperform” rating on shares of AST SpaceMobile in a report on Wednesday, March 5th. Finally, 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 report on Wednesday, March 5th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $42.98.
Get Our Latest Analysis on ASTS
AST SpaceMobile Price Performance
Insider Transactions at AST SpaceMobile
In related news, Director Julio A. Torres sold 20,000 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $30.73, for a total value of $614,600.00. Following the completion of the sale, the director now directly owns 52,628 shares of the company’s stock, valued at approximately $1,617,258.44. This represents a 27.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 41.80% of the stock is owned by insiders.
Hedge Funds Weigh In On AST SpaceMobile
A number of large investors have recently made changes to their positions in the business. Summit Securities Group LLC bought a new position in AST SpaceMobile during the fourth quarter valued at approximately $37,000. Bernard Wealth Management Corp. bought a new position in shares of AST SpaceMobile in the 4th quarter valued at approximately $42,000. Golden State Wealth Management LLC bought a new stake in AST SpaceMobile during the fourth quarter worth approximately $46,000. CIBC Private Wealth Group LLC boosted its holdings in shares of AST SpaceMobile by 106.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company’s stock worth $53,000 after buying an additional 1,222 shares during the period. Finally, AlphaQuest LLC bought a new position in AST SpaceMobile in the 4th quarter worth $67,000. 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.
Read More
- Five stocks we like better than AST SpaceMobile
- Do Real Estate Investment Trusts Deserve a Place in Your Portfolio?
- The “Quality” Rotation: Back to Basics Investing
- How to Effectively Use the MarketBeat Ratings Screener
- Occidental Petroleum: 4 Reasons to Love These Prices
- What Does Downgrade Mean in Investing?
- Super Micro’s International Presence Makes It a Winning Stock
Receive News & Ratings for AST SpaceMobile Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AST SpaceMobile and related companies with MarketBeat.com's FREE daily email newsletter.