AST SpaceMobile (NASDAQ:ASTS) PT Raised to $45.90 at Scotiabank

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) had its price objective hoisted by analysts at Scotiabank from $28.00 to $45.90 in a note issued to investors on Monday, Benzinga reports. The firm currently has a "sector outperform" rating on the stock. Scotiabank's target price would suggest a potential upside of 35.88% from the stock's current price.

ASTS has been the subject of a number of other research reports. UBS Group lifted their price target on AST SpaceMobile from $13.00 to $30.00 and gave the company a "buy" rating in a research report on Thursday, August 15th. B. Riley lifted their target price on shares of AST SpaceMobile from $15.00 to $26.00 and gave the company a "buy" rating in a research report on Thursday, August 15th.

AST SpaceMobile Price Performance

Shares of AST SpaceMobile stock traded up $0.92 during trading on Monday, hitting $33.78. The stock had a trading volume of 17,599,118 shares, compared to its average volume of 9,599,646. The firm has a market cap of $8.70 billion, a price-to-earnings ratio of -32.34 and a beta of 1.61. AST SpaceMobile has a 12 month low of $1.97 and a 12 month high of $39.08. The business's 50-day moving average is $17.36 and its 200 day moving average is $8.57. The company has a current ratio of 7.51, a quick ratio of 7.51 and a debt-to-equity ratio of 0.56.

Institutional Investors Weigh In On AST SpaceMobile

A number of hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. purchased a new position in AST SpaceMobile in the 4th quarter worth $65,000. Cantor Fitzgerald L. P. purchased a new position in shares of AST SpaceMobile in the fourth quarter worth about $66,000. Calton & Associates Inc. bought a new stake in shares of AST SpaceMobile in the 2nd quarter valued at about $128,000. Rathbones Group PLC purchased a new stake in AST SpaceMobile during the 4th quarter valued at about $76,000. Finally, BNP Paribas bought a new position in AST SpaceMobile during the 1st quarter worth approximately $43,000. 60.95% of the stock is currently owned by institutional investors.

AST SpaceMobile Company Profile

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.