Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS – Get Free Report) shot up 0.9% on Tuesday . The company traded as high as $23.67 and last traded at $23.45. 933,092 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 10,364,271 shares. The stock had previously closed at $23.25.
Analyst Ratings Changes
A number of equities research analysts have issued reports on ASTS shares. Deutsche Bank Aktiengesellschaft increased their target price on shares of AST SpaceMobile from $22.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. B. Riley lifted their target price on AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, August 29th. UBS Group upped their price target on AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Scotiabank decreased their price objective on AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating for the company in a research note on Friday, November 15th.
View Our Latest Stock Report on ASTS
AST SpaceMobile Trading Up 1.0 %
Insider Activity
In other AST SpaceMobile news, President Scott Wisniewski sold 2,700 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $23.12, for a total transaction of $62,424.00. Following the transaction, the president now owns 712,660 shares of the company’s stock, valued at approximately $16,476,699.20. This trade represents a 0.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Huiwen Yao sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $24.26, for a total value of $1,091,700.00. Following the transaction, the chief technology officer now owns 55,000 shares in the company, valued at $1,334,300. This represents a 45.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 127,700 shares of company stock worth $3,220,524. 41.80% of the stock is currently owned by insiders.
Hedge Funds Weigh In On AST SpaceMobile
A number of hedge funds and other institutional investors have recently bought and sold shares of ASTS. Privium Fund Management B.V. purchased a new stake in shares of AST SpaceMobile in the third quarter valued at about $21,476,000. Oppenheimer & Co. Inc. acquired a new stake in AST SpaceMobile in the second quarter valued at about $9,270,000. Charles Schwab Investment Management Inc. boosted its stake in shares of AST SpaceMobile by 228.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,131,705 shares of the company’s stock valued at $29,594,000 after buying an additional 787,566 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of AST SpaceMobile during the 2nd quarter worth $4,757,000. Finally, State Street Corp boosted its holdings in AST SpaceMobile by 14.8% during the third quarter. State Street Corp now owns 3,091,577 shares of the company’s stock worth $80,845,000 after buying an additional 399,713 shares in the last quarter. 60.95% of the stock is currently owned by hedge funds and other institutional investors.
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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