AST SpaceMobile (NASDAQ:ASTS) Receives Overweight Rating from Cantor Fitzgerald

AST SpaceMobile (NASDAQ:ASTS)‘s stock had its “overweight” rating reissued by equities researchers at Cantor Fitzgerald in a research report issued on Tuesday,Benzinga reports. They presently have a $30.00 price objective on the stock. Cantor Fitzgerald’s price objective would suggest a potential downside of 11.24% from the company’s current price.

Other analysts have also recently issued reports about the company. UBS Group boosted their price objective on AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Scotiabank dropped their price objective on AST SpaceMobile from $44.70 to $40.20 and set a “sector outperform” rating for the company in a report on Friday, January 24th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $42.98.

AST SpaceMobile Stock Performance

Shares of NASDAQ:ASTS opened at $33.80 on Tuesday. The stock has a market capitalization of $9.79 billion, a P/E ratio of -15.94 and a beta of 1.62. AST SpaceMobile has a 1-year low of $1.97 and a 1-year high of $39.08. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31. The business has a 50-day moving average price of $24.57 and a two-hundred day moving average price of $25.53.

Institutional Trading of AST SpaceMobile

A number of institutional investors and hedge funds have recently modified their holdings of ASTS. Hollencrest Capital Management bought a new stake in shares of AST SpaceMobile in the 3rd quarter valued at about $26,000. Summit Securities Group LLC acquired a new position in shares of AST SpaceMobile in the 4th quarter valued at approximately $37,000. Bernard Wealth Management Corp. acquired a new position in shares of AST SpaceMobile in the 4th quarter valued at approximately $42,000. Golden State Wealth Management LLC acquired a new position in shares of AST SpaceMobile in the 4th quarter valued at approximately $46,000. Finally, CIBC Private Wealth Group LLC grew its position in shares of AST SpaceMobile by 106.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company’s stock valued at $53,000 after purchasing an additional 1,222 shares during the period. 60.95% of the stock is owned by 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.