AST SpaceMobile’s (ASTS) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of AST SpaceMobile (NASDAQ:ASTSFree Report) in a research report report published on Tuesday,Benzinga reports. They currently have a $30.00 target price on the stock.

A number of other research analysts have also commented on the company. Scotiabank cut their target price on AST SpaceMobile from $44.70 to $40.20 and set a “sector outperform” rating for the company in a research note on Friday, January 24th. UBS Group raised their target price on AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $40.04.

Check Out Our Latest Report on AST SpaceMobile

AST SpaceMobile Price Performance

Shares of ASTS opened at $28.61 on Tuesday. The business’s 50-day moving average is $24.36 and its 200-day moving average is $25.47. AST SpaceMobile has a fifty-two week low of $1.97 and a fifty-two week high of $39.08. The company has a market capitalization of $8.29 billion, a price-to-earnings ratio of -13.50 and a beta of 1.62. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80.

Institutional Investors Weigh In On AST SpaceMobile

Institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its stake in shares of AST SpaceMobile by 235.9% in the third 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 last quarter. Van ECK Associates Corp boosted its stake 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 buying an additional 60,530 shares during the period. Algert Global LLC bought a new stake in AST SpaceMobile during the third quarter worth about $768,000. Handelsbanken Fonder AB bought a new stake in AST SpaceMobile during the fourth quarter worth about $755,000. Finally, Oppenheimer & Co. Inc. increased its holdings in shares of AST SpaceMobile by 6.0% in the third quarter. Oppenheimer & Co. Inc. now owns 846,072 shares of the company’s stock worth $22,125,000 after buying an additional 47,600 shares during the period. Institutional investors own 60.95% of the company’s stock.

About AST SpaceMobile

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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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Analyst Recommendations for AST SpaceMobile (NASDAQ:ASTS)

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