AST SpaceMobile (NASDAQ:ASTS) Stock Price Expected to Rise, Scotiabank Analyst Says

AST SpaceMobile (NASDAQ:ASTS) had its price target boosted by stock analysts at Scotiabank from $40.20 to $47.90 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the stock. Scotiabank’s price target would indicate a potential upside of 48.85% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. UBS Group upped their price objective on shares of AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Cantor Fitzgerald reiterated an “overweight” rating and set a $30.00 price objective on shares of AST SpaceMobile in a report on Tuesday. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, AST SpaceMobile presently has a consensus rating of “Buy” and a consensus price target of $42.98.

AST SpaceMobile Trading Down 4.8 %

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its holdings in 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 in the last quarter. Van ECK Associates Corp lifted its position in shares of AST SpaceMobile by 141.1% in the third quarter. Van ECK Associates Corp now owns 103,437 shares of the company’s stock worth $2,716,000 after buying an additional 60,530 shares during the last quarter. Algert Global LLC bought a new stake 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 valued at about $755,000. Finally, Oppenheimer & Co. Inc. increased its holdings in shares of AST SpaceMobile by 6.0% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 846,072 shares of the company’s stock valued at $22,125,000 after acquiring an additional 47,600 shares during the last quarter. Institutional investors 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.