AST SpaceMobile (NASDAQ:ASTS) Receives “Overweight” Rating from Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of AST SpaceMobile (NASDAQ:ASTS) in a research report released on Tuesday,Benzinga reports. The firm currently has a $30.00 target price on the stock.

Several other brokerages have also weighed in on ASTS. Scotiabank lowered their price objective on AST SpaceMobile from $44.70 to $40.20 and set a “sector outperform” rating for the company in a report on Friday, January 24th. UBS Group boosted their price target on AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a report on Friday, November 15th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $42.98.

AST SpaceMobile Price Performance

ASTS opened at $32.18 on Tuesday. The company has a market capitalization of $9.32 billion, a P/E ratio of -15.18 and a beta of 1.62. The company has a 50-day moving average of $24.72 and a 200-day moving average of $25.58. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80. AST SpaceMobile has a 1-year low of $1.97 and a 1-year high of $39.08.

Institutional Investors Weigh In On AST SpaceMobile

Institutional investors and hedge funds have recently bought and sold shares of the business. Bernard Wealth Management Corp. bought a new position in shares of AST SpaceMobile during the fourth quarter valued at approximately $42,000. First Heartland Consultants Inc. boosted its position in AST SpaceMobile by 42.3% during the 4th quarter. First Heartland Consultants Inc. now owns 14,499 shares of the company’s stock valued at $306,000 after purchasing an additional 4,311 shares during the period. PharVision Advisers LLC acquired a new position in AST SpaceMobile during the 4th quarter valued at approximately $541,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in AST SpaceMobile by 49.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 275,810 shares of the company’s stock worth $5,820,000 after buying an additional 91,536 shares during the last quarter. Finally, Twinbeech Capital LP bought a new stake in AST SpaceMobile in the fourth quarter valued at $4,684,000. Institutional investors and hedge funds 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.