AST SpaceMobile (NASDAQ:ASTS) Price Target Raised to $47.90

AST SpaceMobile (NASDAQ:ASTS - Free Report) had its target price upped by Scotiabank from $40.20 to $47.90 in a research note published on Wednesday morning,Benzinga reports. The firm currently has a sector outperform rating on the stock.

ASTS has been the topic of a number of other research reports. Cantor Fitzgerald reissued an "overweight" rating and issued a $30.00 price target on shares of AST SpaceMobile in a research report on Tuesday. UBS Group raised their target price 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. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, AST SpaceMobile currently has a consensus rating of "Buy" and a consensus price target of $42.98.

AST SpaceMobile Stock Up 3.8 %

Shares of NASDAQ ASTS traded up $1.22 during trading hours on Wednesday, hitting $33.40. The stock had a trading volume of 17,120,947 shares, compared to its average volume of 12,918,096. The firm's 50-day moving average price is $24.72 and its two-hundred day moving average price is $25.58. AST SpaceMobile has a 52 week low of $1.97 and a 52 week high of $39.08. The company has a market capitalization of $9.68 billion, a P/E ratio of -15.75 and a beta of 1.62. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80.

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Institutional Investors Weigh In On AST SpaceMobile

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in AST SpaceMobile by 49.4% during the fourth quarter. Vanguard Group Inc. now owns 14,987,351 shares of the company's stock worth $316,233,000 after acquiring an additional 4,955,941 shares in the last quarter. T. Rowe Price Investment Management Inc. acquired a new position in shares of AST SpaceMobile in the 4th quarter valued at approximately $59,523,000. Privium Fund Management B.V. bought a new stake in AST SpaceMobile during the 3rd quarter worth approximately $21,476,000. Charles Schwab Investment Management Inc. increased its stake in AST SpaceMobile by 228.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,131,705 shares of the company's stock worth $29,594,000 after purchasing an additional 787,566 shares in the last quarter. Finally, State Street Corp raised its holdings in AST SpaceMobile by 14.8% during the 3rd quarter. State Street Corp now owns 3,091,577 shares of the company's stock worth $80,845,000 after buying an additional 399,713 shares during the period. 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.