Scotiabank Lowers AST SpaceMobile (NASDAQ:ASTS) Price Target to $40.20

AST SpaceMobile (NASDAQ:ASTS) had its target price trimmed by Scotiabank from $44.70 to $40.20 in a research report report published on Friday morning,Benzinga reports. The brokerage currently has a sector outperform rating on the stock.

Separately, UBS Group upped their price target on shares of AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a report on Friday, November 15th.

AST SpaceMobile Trading Up 2.8 %

AST SpaceMobile stock opened at $20.35 on Friday. AST SpaceMobile has a twelve month low of $1.97 and a twelve month high of $39.08. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31. The company has a 50 day moving average of $23.02 and a 200-day moving average of $23.73.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Chicago Partners Investment Group LLC boosted its holdings in AST SpaceMobile by 19.3% during the fourth quarter. Chicago Partners Investment Group LLC now owns 61,858 shares of the company’s stock worth $1,392,000 after purchasing an additional 10,004 shares during the last quarter. MBE Wealth Management LLC boosted its holdings in AST SpaceMobile by 7.0% during the fourth quarter. MBE Wealth Management LLC now owns 39,718 shares of the company’s stock worth $838,000 after purchasing an additional 2,602 shares during the last quarter. KBC Group NV boosted its holdings in AST SpaceMobile by 63.8% during the fourth quarter. KBC Group NV now owns 6,509 shares of the company’s stock worth $137,000 after purchasing an additional 2,536 shares during the last quarter. Lake Hills Wealth Management LLC acquired a new position in AST SpaceMobile during the fourth quarter worth $374,000. Finally, Key Colony Management LLC boosted its holdings in AST SpaceMobile by 44.1% during the fourth quarter. Key Colony Management LLC now owns 196,000 shares of the company’s stock worth $4,136,000 after purchasing an additional 60,000 shares during the last quarter. Institutional investors and hedge funds own 60.95% of the company’s stock.

About AST SpaceMobile

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.