AST SpaceMobile (NASDAQ:ASTS) Given New $63.00 Price Target at Deutsche Bank Aktiengesellschaft

AST SpaceMobile (NASDAQ:ASTS) had its price objective raised by Deutsche Bank Aktiengesellschaft from $22.00 to $63.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a buy rating on the stock.

Several other research firms have also issued reports on ASTS. B. Riley boosted their target price on shares of AST SpaceMobile from $26.00 to $36.00 and gave the company a buy rating in a report on Thursday, August 29th. UBS Group boosted their price objective on AST SpaceMobile from $13.00 to $30.00 and gave the company a buy rating in a research note on Thursday, August 15th. Finally, Scotiabank raised their target price on AST SpaceMobile from $28.00 to $45.90 and gave the stock a sector outperform rating in a research note on Monday, August 26th.

AST SpaceMobile Stock Up 12.5 %

Shares of NASDAQ ASTS opened at $33.08 on Wednesday. The company’s 50 day moving average price is $20.44 and its 200-day moving average price is $10.04. The company has a debt-to-equity ratio of 0.83, a quick ratio of 6.38 and a current ratio of 6.38. AST SpaceMobile has a 52-week low of $1.97 and a 52-week high of $39.08. The company has a market capitalization of $8.52 billion, a P/E ratio of -33.76 and a beta of 1.61.

Institutional Trading of AST SpaceMobile

Several large investors have recently made changes to their positions in ASTS. Victory Capital Management Inc. bought a new position in AST SpaceMobile in the fourth quarter worth approximately $65,000. Cantor Fitzgerald L. P. acquired a new stake in AST SpaceMobile in the 4th quarter valued at $66,000. Calton & Associates Inc. bought a new stake in AST SpaceMobile during the 2nd quarter valued at $128,000. Rathbones Group PLC acquired a new position in AST SpaceMobile during the fourth quarter worth $76,000. Finally, BNP Paribas bought a new position in shares of AST SpaceMobile in the first quarter valued at $43,000. 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.