AST SpaceMobile (NASDAQ:ASTS) Raised to "Strong-Buy" at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of AST SpaceMobile (NASDAQ:ASTS - Free Report) to a strong-buy rating in a research note issued to investors on Tuesday,Zacks.com reports.

Other equities research analysts have also issued reports about the stock. Scotiabank reduced their target price on shares of AST SpaceMobile from $44.70 to $40.20 and set a "sector outperform" rating on the stock in a report on Friday, January 24th. UBS Group raised their price objective on shares of AST SpaceMobile from $30.00 to $31.00 and gave the company a "buy" rating in a report on Friday, November 15th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $40.04.

AST SpaceMobile Stock Up 3.9 %

AST SpaceMobile stock traded up $1.03 during mid-day trading on Tuesday, reaching $27.11. 9,518,736 shares of the company's stock were exchanged, compared to its average volume of 11,852,060. The company has a market cap of $7.85 billion, a P/E ratio of -12.79 and a beta of 1.62. AST SpaceMobile has a twelve month low of $1.97 and a twelve month 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. The company has a fifty day moving average of $24.21 and a 200-day moving average of $25.47.

Institutional Investors Weigh In On AST SpaceMobile

Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in shares of 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 purchasing an additional 174,007 shares in the last quarter. Van ECK Associates Corp raised 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 worth $2,716,000 after acquiring an additional 60,530 shares in the last quarter. Algert Global LLC acquired a new stake in AST SpaceMobile during the 3rd quarter worth $768,000. Americana Partners LLC acquired a new stake in AST SpaceMobile during the 3rd quarter worth $673,000. Finally, Oppenheimer & Co. Inc. raised 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 worth $22,125,000 after acquiring 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

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.