Cantor Fitzgerald assumed coverage on shares of AST SpaceMobile (NASDAQ:ASTS - Free Report) in a research note released on Thursday morning, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $30.00 price objective on the stock.
A number of other research firms have also recently issued reports on ASTS. UBS Group raised their target price on AST SpaceMobile from $30.00 to $31.00 and gave the company a "buy" rating in a research note on Friday, November 15th. Scotiabank decreased their target price on shares of AST SpaceMobile from $44.70 to $40.20 and set a "sector outperform" rating for the company in a research report on Friday, January 24th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $40.04.
Read Our Latest Analysis on AST SpaceMobile
AST SpaceMobile Stock Performance
Shares of NASDAQ:ASTS traded up $4.58 on Thursday, reaching $31.09. 30,214,015 shares of the company's stock were exchanged, compared to its average volume of 11,346,258. AST SpaceMobile has a fifty-two week low of $1.97 and a fifty-two week high of $39.08. The business's 50-day moving average is $22.55 and its two-hundred day moving average is $24.51. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $9.01 billion, a price-to-earnings ratio of -14.86 and a beta of 1.62.
Institutional Trading of AST SpaceMobile
Large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its stake in AST SpaceMobile by 235.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 247,781 shares of the company's stock valued at $6,479,000 after purchasing an additional 174,007 shares in the last quarter. Van ECK Associates Corp boosted its stake in AST SpaceMobile by 141.1% during the 3rd 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 in the last quarter. Algert Global LLC bought a new position in AST SpaceMobile during the 3rd quarter valued at $768,000. Americana Partners LLC bought a new position in AST SpaceMobile during the 3rd quarter valued at $673,000. Finally, Oppenheimer & Co. Inc. boosted its stake in AST SpaceMobile by 6.0% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 846,072 shares of the company's stock valued at $22,125,000 after purchasing an additional 47,600 shares in the last quarter. 60.95% of the stock is currently owned by institutional investors and hedge funds.
About AST SpaceMobile
(
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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.
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