AST SpaceMobile (NASDAQ:ASTS) Coverage Initiated at Cantor Fitzgerald

Research analysts at Cantor Fitzgerald assumed coverage on shares of AST SpaceMobile (NASDAQ:ASTS) in a note issued to investors on Thursday,Briefing.com Automated Import reports. The firm set an “overweight” rating and a $30.00 price target on the stock. Cantor Fitzgerald’s target price suggests a potential upside of 21.41% from the stock’s previous close.

Several other equities analysts have also recently weighed in on ASTS. Scotiabank cut their price target on AST SpaceMobile from $44.70 to $40.20 and set a “sector outperform” rating for the company in a report on Friday, January 24th. UBS Group lifted their target price on AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, AST SpaceMobile has a consensus rating of “Buy” and an average price target of $40.04.

AST SpaceMobile Stock Performance

NASDAQ ASTS opened at $24.71 on Thursday. The stock has a market capitalization of $7.16 billion, a PE ratio of -11.66 and a beta of 1.62. The business has a 50 day simple moving average of $22.42 and a two-hundred day simple moving average of $24.25. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80. AST SpaceMobile has a 1-year low of $1.97 and a 1-year high of $39.08.

Hedge Funds Weigh In On AST SpaceMobile

A number of large investors have recently bought and sold shares of ASTS. The Manufacturers Life Insurance Company boosted its holdings in AST SpaceMobile by 31.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 51,209 shares of the company’s stock valued at $595,000 after acquiring an additional 12,391 shares during the period. Miracle Mile Advisors LLC purchased a new position in AST SpaceMobile during the 3rd quarter valued at $328,000. Dynamic Advisor Solutions LLC boosted its holdings in AST SpaceMobile by 263.7% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 55,580 shares of the company’s stock valued at $1,453,000 after acquiring an additional 40,300 shares during the period. Brookstone Capital Management purchased a new position in AST SpaceMobile during the 3rd quarter valued at $255,000. Finally, Future Financial Wealth Managment LLC purchased a new position in AST SpaceMobile during the 3rd quarter valued at $105,000. Hedge funds and other institutional investors 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.