AST SpaceMobile (NASDAQ:ASTS) Given “Overweight” Rating at Cantor Fitzgerald

AST SpaceMobile (NASDAQ:ASTS)‘s stock had its “overweight” rating reiterated by equities researchers at Cantor Fitzgerald in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $30.00 target price on the stock. Cantor Fitzgerald’s price objective points to a potential upside of 9.13% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Scotiabank decreased their target price 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 upped their price objective on shares of AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, AST SpaceMobile presently has an average rating of “Buy” and an average target price of $40.04.

AST SpaceMobile Trading Up 7.3 %

ASTS opened at $27.49 on Tuesday. AST SpaceMobile has a one year low of $1.97 and a one year 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 business has a 50 day simple moving average of $24.26 and a two-hundred day simple moving average of $25.49. The firm has a market capitalization of $7.96 billion, a price-to-earnings ratio of -13.06 and a beta of 1.62.

Institutional Investors Weigh In On AST SpaceMobile

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Amalgamated Bank lifted its position in AST SpaceMobile by 17.4% during the third quarter. Amalgamated Bank now owns 4,578 shares of the company’s stock valued at $120,000 after buying an additional 679 shares during the period. Xponance Inc. lifted its position in AST SpaceMobile by 8.7% during the 4th quarter. Xponance Inc. now owns 9,676 shares of the company’s stock valued at $204,000 after acquiring an additional 772 shares during the period. Hollencrest Capital Management bought a new stake in AST SpaceMobile during the third quarter worth about $26,000. CIBC Private Wealth Group LLC grew its holdings in AST SpaceMobile by 106.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company’s stock worth $53,000 after purchasing an additional 1,222 shares during the period. Finally, Americana Partners LLC increased its stake in shares of AST SpaceMobile by 5.2% during the fourth quarter. Americana Partners LLC now owns 27,047 shares of the company’s stock valued at $571,000 after purchasing an additional 1,326 shares in the last quarter. 60.95% of the stock is owned by hedge funds and other institutional investors.

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.