UBS Group Forecasts Strong Price Appreciation for AST SpaceMobile (NASDAQ:ASTS) Stock

AST SpaceMobile (NASDAQ:ASTS) had its target price hoisted by equities researchers at UBS Group from $31.00 to $38.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s target price would indicate a potential upside of 18.09% from the company’s previous close.

Several other equities analysts have also recently weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $30.00 price target on shares of AST SpaceMobile in a research note on Tuesday. Scotiabank raised their target price on shares of AST SpaceMobile from $40.20 to $47.90 and gave the company a “sector outperform” rating in a research report on Wednesday. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $42.98.

AST SpaceMobile Stock Down 4.8 %

NASDAQ:ASTS opened at $32.18 on Wednesday. The stock has a 50-day simple moving average of $24.72 and a 200 day simple moving average of $25.58. AST SpaceMobile has a 52-week low of $1.97 and a 52-week high of $39.08. The company has a market cap of $9.32 billion, a PE ratio of -15.18 and a beta of 1.62. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80.

Institutional Investors Weigh In On AST SpaceMobile

Large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its holdings in AST SpaceMobile by 235.9% during the third quarter. JPMorgan Chase & Co. now owns 247,781 shares of the company’s stock worth $6,479,000 after buying an additional 174,007 shares during the last quarter. Van ECK Associates Corp grew its position in shares of AST SpaceMobile by 141.1% in the 3rd quarter. Van ECK Associates Corp now owns 103,437 shares of the company’s stock valued at $2,716,000 after acquiring an additional 60,530 shares during the period. Algert Global LLC acquired a new position in shares of AST SpaceMobile during the 3rd quarter worth about $768,000. Handelsbanken Fonder AB acquired a new position in shares of AST SpaceMobile during the 4th quarter worth about $755,000. Finally, Oppenheimer & Co. Inc. raised its holdings in shares of AST SpaceMobile by 6.0% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 846,072 shares of the company’s stock valued at $22,125,000 after purchasing an additional 47,600 shares during the period. 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.