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

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) was upgraded by stock analysts at Cantor Fitzgerald to a "strong-buy" rating in a report released on Tuesday,Zacks.com reports.

Several other research analysts have also recently issued reports on the company. UBS Group increased their price target on AST SpaceMobile from $30.00 to $31.00 and gave the stock a "buy" rating in a research note on Friday, November 15th. Scotiabank decreased their price target on AST SpaceMobile from $44.70 to $40.20 and set a "sector outperform" rating for the company in a research note on Friday, January 24th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $40.04.

AST SpaceMobile Trading Down 8.4 %

NASDAQ:ASTS opened at $26.17 on Tuesday. AST SpaceMobile has a 1 year low of $1.97 and a 1 year high of $39.08. The stock has a market cap of $7.58 billion, a price-to-earnings ratio of -12.34 and a beta of 1.62. The business has a fifty day moving average of $23.99 and a 200-day moving average of $25.40. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in AST SpaceMobile by 235.9% during the third 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 in the last quarter. Van ECK Associates Corp boosted its stake in AST SpaceMobile by 141.1% during the third quarter. Van ECK Associates Corp now owns 103,437 shares of the company's stock valued at $2,716,000 after buying an additional 60,530 shares in the last quarter. Algert Global LLC bought a new position in AST SpaceMobile during the third quarter valued at about $768,000. Americana Partners LLC bought a new position in AST SpaceMobile during the third quarter valued at about $673,000. Finally, Oppenheimer & Co. Inc. boosted its stake in AST SpaceMobile by 6.0% during the third quarter. Oppenheimer & Co. Inc. now owns 846,072 shares of the company's stock valued at $22,125,000 after buying an additional 47,600 shares in the last quarter. 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.

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