Cantor Fitzgerald Reiterates Overweight Rating for AST SpaceMobile (NASDAQ:ASTS)

AST SpaceMobile (NASDAQ:ASTS)‘s stock had its “overweight” rating reissued by Cantor Fitzgerald in a report released on Tuesday,Benzinga reports. They presently have a $30.00 price objective on the stock. Cantor Fitzgerald’s target price points to a potential upside of 9.13% from the stock’s previous close.

ASTS has been the subject of several other reports. Scotiabank decreased their target price on shares of 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 objective on shares of AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, AST SpaceMobile currently has an average rating of “Buy” and an average price target of $40.04.

AST SpaceMobile Price Performance

ASTS opened at $27.49 on Tuesday. The firm has a market cap of $7.96 billion, a PE ratio of -13.06 and a beta of 1.62. The stock has a 50-day moving average price of $24.26 and a 200-day moving average price of $25.49. AST SpaceMobile has a 1 year low of $1.97 and a 1 year high of $39.08. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80.

Institutional Trading of AST SpaceMobile

A number of institutional investors have recently made changes to their positions in ASTS. Vanguard Group Inc. raised its holdings in shares of AST SpaceMobile by 49.4% during the fourth quarter. Vanguard Group Inc. now owns 14,987,351 shares of the company’s stock valued at $316,233,000 after purchasing an additional 4,955,941 shares during the last quarter. T. Rowe Price Investment Management Inc. purchased a new stake in AST SpaceMobile during the 4th quarter valued at $59,523,000. Privium Fund Management B.V. purchased a new stake in AST SpaceMobile during the 3rd quarter valued at $21,476,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of AST SpaceMobile by 228.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,131,705 shares of the company’s stock valued at $29,594,000 after buying an additional 787,566 shares during the period. Finally, State Street Corp boosted its stake in shares of AST SpaceMobile by 14.8% in the 3rd quarter. State Street Corp now owns 3,091,577 shares of the company’s stock worth $80,845,000 after buying an additional 399,713 shares during the last quarter. Hedge funds and other institutional investors own 60.95% of the company’s stock.

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.