UBS Group Raises AST SpaceMobile (NASDAQ:ASTS) Price Target to $13.00

AST SpaceMobile (NASDAQ:ASTSFree Report) had its target price lifted by UBS Group from $7.00 to $13.00 in a research note issued to investors on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages have also weighed in on ASTS. Scotiabank raised their target price on AST SpaceMobile from $7.40 to $12.90 and gave the company a sector outperform rating in a research note on Thursday, May 30th. Deutsche Bank Aktiengesellschaft reduced their price target on AST SpaceMobile from $23.00 to $19.00 and set a buy rating for the company in a research note on Wednesday, April 3rd.

Get Our Latest Analysis on AST SpaceMobile

AST SpaceMobile Stock Down 1.1 %

ASTS opened at $9.76 on Monday. AST SpaceMobile has a 1-year low of $1.97 and a 1-year high of $10.10. The company has a current ratio of 7.51, a quick ratio of 7.51 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of -9.89 and a beta of 1.57. The business has a 50 day moving average of $3.99 and a 200-day moving average of $3.95.

AST SpaceMobile (NASDAQ:ASTSGet Free Report) last posted its quarterly earnings data on Wednesday, May 15th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.02. The business had revenue of $0.50 million during the quarter, compared to the consensus estimate of $3.00 million. As a group, sell-side analysts anticipate that AST SpaceMobile will post -0.66 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. BNP Paribas acquired a new stake in AST SpaceMobile during the 1st quarter valued at approximately $43,000. Principal Financial Group Inc. bought a new position in shares of AST SpaceMobile in the 1st quarter worth $45,000. Summit Trail Advisors LLC bought a new position in shares of AST SpaceMobile in the 1st quarter worth $47,000. Victory Capital Management Inc. bought a new position in AST SpaceMobile during the 4th quarter valued at $65,000. Finally, Cantor Fitzgerald L. P. bought a new position in AST SpaceMobile during the 4th quarter valued at $66,000. Institutional investors own 60.95% of the company’s stock.

AST SpaceMobile Company Profile

(Get Free Report)

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.

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