AST SpaceMobile (NASDAQ:ASTS) Price Target Increased to $45.90 by Analysts at Scotiabank

AST SpaceMobile (NASDAQ:ASTS) had its target price boosted by Scotiabank from $28.00 to $45.90 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a sector outperform rating on the stock.

Other equities analysts have also issued research reports about the stock. UBS Group upped their price target on shares of AST SpaceMobile from $13.00 to $30.00 and gave the stock a buy rating in a research report on Thursday, August 15th. B. Riley upped their price objective on AST SpaceMobile from $15.00 to $26.00 and gave the stock a buy rating in a report on Thursday, August 15th.

AST SpaceMobile Trading Up 5.0 %

NASDAQ ASTS opened at $29.25 on Monday. The company has a market cap of $7.53 billion, a P/E ratio of -29.85 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 company has a debt-to-equity ratio of 0.56, a current ratio of 7.51 and a quick ratio of 7.51. The company has a 50-day moving average of $18.89 and a 200-day moving average of $9.25.

Hedge Funds Weigh In On AST SpaceMobile

A number of hedge funds have recently made changes to their positions in ASTS. Victory Capital Management Inc. increased its holdings in AST SpaceMobile by 5.5% in the 2nd quarter. Victory Capital Management Inc. now owns 15,542 shares of the company’s stock valued at $180,000 after purchasing an additional 814 shares in the last quarter. Accordant Advisory Group Inc raised its holdings in shares of AST SpaceMobile by 2.0% during the 2nd quarter. Accordant Advisory Group Inc now owns 162,823 shares of the company’s stock valued at $1,890,000 after buying an additional 3,146 shares during the period. MBE Wealth Management LLC lifted its position in AST SpaceMobile by 34.1% during the 2nd quarter. MBE Wealth Management LLC now owns 27,000 shares of the company’s stock worth $313,000 after acquiring an additional 6,870 shares in the last quarter. Cantor Fitzgerald L. P. purchased a new position in AST SpaceMobile in the 4th quarter worth approximately $66,000. Finally, Calton & Associates Inc. acquired a new stake in AST SpaceMobile during the 2nd quarter valued at $128,000. Hedge funds and other 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.