Cantor Fitzgerald Initiates Coverage on AST SpaceMobile (NASDAQ:ASTS)

Cantor Fitzgerald started coverage on shares of AST SpaceMobile (NASDAQ:ASTS - Free Report) in a report published on Thursday, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $30.00 price objective on the stock.

Several other brokerages have also issued reports on ASTS. Scotiabank cut their price objective 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 price target on AST SpaceMobile from $30.00 to $31.00 and gave the company 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.com, the stock has a consensus rating of "Buy" and a consensus price target of $40.04.

AST SpaceMobile Trading Down 2.2 %

AST SpaceMobile stock traded down $0.61 during trading hours on Thursday, hitting $26.51. The company had a trading volume of 14,563,734 shares, compared to its average volume of 11,050,126. The firm's fifty day moving average is $22.55 and its 200-day moving average is $24.43. AST SpaceMobile has a fifty-two week low of $1.97 and a fifty-two week high of $39.08. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31.

Hedge Funds Weigh In On AST SpaceMobile

Several institutional investors have recently bought and sold shares of ASTS. JPMorgan Chase & Co. grew its stake in AST SpaceMobile by 235.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 247,781 shares of the company's stock valued at $6,479,000 after buying an additional 174,007 shares during the last quarter. Van ECK Associates Corp grew 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 valued at $2,716,000 after purchasing an additional 60,530 shares during the last quarter. Algert Global LLC acquired a new stake in shares of AST SpaceMobile in the third quarter valued at about $768,000. Americana Partners LLC bought a new position in shares of AST SpaceMobile in the third quarter worth about $673,000. Finally, Oppenheimer & Co. Inc. lifted its position 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 worth $22,125,000 after purchasing an additional 47,600 shares during the last quarter. 60.95% of the stock is currently owned by institutional investors.

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.