AST SpaceMobile (NASDAQ:ASTS) Coverage Initiated at Cantor Fitzgerald

Analysts at Cantor Fitzgerald initiated coverage on shares of AST SpaceMobile (NASDAQ:ASTS) in a research note issued to investors on Thursday,Briefing.com Automated Import reports. The firm set an “overweight” rating and a $30.00 price target on the stock. Cantor Fitzgerald’s price target would indicate a potential upside of 21.41% from the company’s previous close.

A number of other brokerages have also weighed in on ASTS. Scotiabank decreased their target price on AST SpaceMobile from $44.70 to $40.20 and set a “sector outperform” rating for the company in a research report on Friday, January 24th. UBS Group boosted their price target on AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, AST SpaceMobile presently has a consensus rating of “Buy” and a consensus target price of $40.04.

AST SpaceMobile Trading Up 7.0 %

Shares of NASDAQ ASTS opened at $24.71 on Thursday. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31. The business has a fifty day simple moving average of $22.42 and a two-hundred day simple moving average of $24.25. The firm has a market cap of $7.16 billion, a PE ratio of -11.66 and a beta of 1.62. AST SpaceMobile has a twelve month low of $1.97 and a twelve month high of $39.08.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ASTS. Fairfield Financial Advisors LTD purchased a new position in AST SpaceMobile during the 3rd quarter worth $26,000. Hollencrest Capital Management purchased a new position in AST SpaceMobile during the 3rd quarter worth $26,000. Golden State Wealth Management LLC purchased a new position in AST SpaceMobile during the 4th quarter worth $46,000. Rakuten Securities Inc. purchased a new position in AST SpaceMobile during the 3rd quarter worth $68,000. Finally, SRS Capital Advisors Inc. grew its stake in AST SpaceMobile by 554.5% during the 4th quarter. SRS Capital Advisors Inc. now owns 3,482 shares of the company’s stock worth $73,000 after buying an additional 2,950 shares during the last quarter. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

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.