AST SpaceMobile’s (ASTS) Overweight Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of AST SpaceMobile (NASDAQ:ASTS) in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a $30.00 price objective on the stock.

Several other equities analysts have also weighed in on ASTS. 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 boosted their price objective on AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, AST SpaceMobile presently has a consensus rating of “Buy” and an average price target of $42.98.

AST SpaceMobile Trading Down 4.8 %

Shares of ASTS stock opened at $32.18 on Tuesday. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31. AST SpaceMobile has a fifty-two week low of $1.97 and a fifty-two week high of $39.08. The firm’s 50 day moving average price is $24.72 and its two-hundred day moving average price is $25.58. The stock has a market cap of $9.32 billion, a price-to-earnings ratio of -15.18 and a beta of 1.62.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in AST SpaceMobile by 235.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 247,781 shares of the company’s stock worth $6,479,000 after buying an additional 174,007 shares in the last quarter. Van ECK Associates Corp increased its position in shares of AST SpaceMobile by 141.1% during the third 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 during the last quarter. Algert Global LLC acquired a new position in shares of AST SpaceMobile in the third quarter worth about $768,000. Handelsbanken Fonder AB purchased a new position in AST SpaceMobile in the fourth quarter valued at about $755,000. Finally, Oppenheimer & Co. Inc. grew 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 hedge funds and other institutional investors.

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.