Deutsche Bank Aktiengesellschaft Raises AST SpaceMobile (NASDAQ:ASTS) Price Target to $63.00

AST SpaceMobile (NASDAQ:ASTS) had its price target hoisted by Deutsche Bank Aktiengesellschaft from $22.00 to $63.00 in a research note published on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also weighed in on the stock. Scotiabank boosted their price objective on shares of AST SpaceMobile from $28.00 to $45.90 and gave the stock a sector outperform rating in a report on Monday, August 26th. UBS Group boosted their price target on shares of AST SpaceMobile from $13.00 to $30.00 and gave the stock a buy rating in a research note on Thursday, August 15th. Finally, B. Riley upped their price target on shares of AST SpaceMobile from $26.00 to $36.00 and gave the company a buy rating in a research report on Thursday, August 29th.

AST SpaceMobile Trading Down 8.2 %

NASDAQ ASTS opened at $26.11 on Wednesday. The company has a quick ratio of 6.38, a current ratio of 6.38 and a debt-to-equity ratio of 0.83. The stock’s 50-day simple moving average is $21.07 and its two-hundred day simple moving average is $10.38. AST SpaceMobile has a twelve month low of $1.97 and a twelve month high of $39.08. The company has a market capitalization of $6.72 billion, a price-to-earnings ratio of -26.64 and a beta of 1.63.

AST SpaceMobile (NASDAQ:ASTS) last announced its quarterly earnings data on Wednesday, August 14th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.05. The firm had revenue of $0.90 million for the quarter, compared to analysts’ expectations of $2.00 million. Research analysts forecast that AST SpaceMobile will post -0.78 EPS for the current fiscal year.

Institutional Investors Weigh In On AST SpaceMobile

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ASTS. Victory Capital Management Inc. grew 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 worth $180,000 after acquiring an additional 814 shares during the last quarter. Accordant Advisory Group Inc increased its holdings in 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 purchasing an additional 3,146 shares during the period. MBE Wealth Management LLC raised 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 valued at $313,000 after purchasing an additional 6,870 shares during the last quarter. Cantor Fitzgerald L. P. bought a new position in AST SpaceMobile during the 4th quarter valued at approximately $66,000. Finally, Calton & Associates Inc. purchased a new stake in AST SpaceMobile in the 2nd quarter worth approximately $128,000. 60.95% of the stock is currently owned by 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.