AST SpaceMobile, Inc. (NASDAQ:ASTS – Get Free Report)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $20.14, but opened at $19.54. AST SpaceMobile shares last traded at $18.04, with a volume of 4,498,250 shares.
Wall Street Analyst Weigh In
ASTS has been the topic of several recent analyst reports. Scotiabank reduced their price objective on shares of AST SpaceMobile from $44.70 to $40.20 and set a “sector outperform” rating on the stock in a research report on Friday, January 24th. UBS Group upped their target price on shares of AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, November 15th.
Read Our Latest Stock Report on AST SpaceMobile
AST SpaceMobile Stock Performance
Hedge Funds Weigh In On AST SpaceMobile
Institutional investors and hedge funds have recently bought and sold shares of the company. Sei Investments Co. purchased a new position in AST SpaceMobile in the 2nd quarter valued at approximately $728,000. Marshall Wace LLP increased its holdings in shares of AST SpaceMobile by 150.4% in the second quarter. Marshall Wace LLP now owns 126,685 shares of the company’s stock valued at $1,471,000 after purchasing an additional 76,088 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of AST SpaceMobile by 31.9% in the second quarter. The Manufacturers Life Insurance Company now owns 51,209 shares of the company’s stock valued at $595,000 after acquiring an additional 12,391 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in AST SpaceMobile in the 2nd quarter valued at approximately $278,000. Finally, Miracle Mile Advisors LLC acquired a new position in AST SpaceMobile during the third quarter worth $328,000. 60.95% of the stock is currently owned by institutional investors and hedge funds.
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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