AST SpaceMobile (NASDAQ:ASTS) Upgraded at Cantor Fitzgerald

AST SpaceMobile (NASDAQ:ASTS) was upgraded by research analysts at Cantor Fitzgerald to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

Several other equities research analysts also recently issued reports on the company. UBS Group upped their price target on AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Scotiabank reduced 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 research note on Friday, January 24th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, AST SpaceMobile presently has a consensus rating of “Buy” and an average target price of $40.04.

AST SpaceMobile Stock Performance

Shares of ASTS opened at $27.24 on Tuesday. The firm has a market capitalization of $7.89 billion, a P/E ratio of -12.85 and a beta of 1.62. AST SpaceMobile has a 52 week low of $1.97 and a 52 week high of $39.08. The stock has a 50 day moving average price of $24.07 and a two-hundred day moving average price of $25.41. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80.

Institutional Trading of AST SpaceMobile

A number of institutional investors and hedge funds have recently modified their holdings of ASTS. Vanguard Group Inc. boosted its position in AST SpaceMobile by 49.4% in the fourth quarter. Vanguard Group Inc. now owns 14,987,351 shares of the company’s stock worth $316,233,000 after purchasing an additional 4,955,941 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of AST SpaceMobile by 7.0% in the 4th quarter. Geode Capital Management LLC now owns 3,496,825 shares of the company’s stock worth $73,801,000 after buying an additional 229,759 shares during the last quarter. State Street Corp grew its position in AST SpaceMobile by 14.8% during the third quarter. State Street Corp now owns 3,091,577 shares of the company’s stock valued at $80,845,000 after buying an additional 399,713 shares during the period. T. Rowe Price Investment Management Inc. purchased a new stake in AST SpaceMobile during the fourth quarter worth about $59,523,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in AST SpaceMobile by 11.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,266,713 shares of the company’s stock worth $26,728,000 after buying an additional 135,008 shares during the last quarter. 60.95% of the stock is owned by hedge funds and other 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.