AST SpaceMobile (NASDAQ:ASTS) Given New $38.00 Price Target at UBS Group

AST SpaceMobile (NASDAQ:ASTS) had its price target boosted by UBS Group from $31.00 to $38.00 in a research note released on Wednesday,Benzinga reports. UBS Group currently has a buy rating on the stock.

Several other research firms have also recently issued reports on ASTS. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $30.00 price target on shares of AST SpaceMobile in a research note on Tuesday. Scotiabank upped their price objective on shares of AST SpaceMobile from $40.20 to $47.90 and gave the company a “sector outperform” rating in a research note on Wednesday. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $42.98.

AST SpaceMobile Stock Up 18.1 %

Shares of NASDAQ:ASTS opened at $33.80 on Wednesday. The company has a market capitalization of $9.79 billion, a P/E ratio of -15.94 and a beta of 1.62. The stock’s fifty day simple moving average is $24.57 and its 200-day simple moving average is $25.53. AST SpaceMobile has a 52-week low of $1.97 and a 52-week 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.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ASTS. Amalgamated Bank boosted its position in shares of AST SpaceMobile by 17.4% in the third quarter. Amalgamated Bank now owns 4,578 shares of the company’s stock worth $120,000 after acquiring an additional 679 shares during the last quarter. Xponance Inc. boosted its holdings in shares of AST SpaceMobile by 8.7% in the 4th quarter. Xponance Inc. now owns 9,676 shares of the company’s stock valued at $204,000 after purchasing an additional 772 shares during the last quarter. Hollencrest Capital Management purchased a new stake in shares of AST SpaceMobile during the 3rd quarter valued at $26,000. CIBC Private Wealth Group LLC increased its holdings in shares of AST SpaceMobile by 106.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company’s stock worth $53,000 after buying an additional 1,222 shares during the last quarter. Finally, Americana Partners LLC raised its position in shares of AST SpaceMobile by 5.2% in the 4th quarter. Americana Partners LLC now owns 27,047 shares of the company’s stock worth $571,000 after buying an additional 1,326 shares during the period. Institutional investors and hedge funds own 60.95% of the company’s stock.

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.