AST SpaceMobile (NASDAQ:ASTS) Rating Increased to Strong-Buy at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of AST SpaceMobile (NASDAQ:ASTS) to a strong-buy rating in a research report report published on Tuesday,Zacks.com reports.

A number of other brokerages have also issued reports on ASTS. UBS Group upped their target price on shares of AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Scotiabank dropped their price target 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 issued a strong buy rating to the company’s stock. According to MarketBeat, AST SpaceMobile presently has a consensus rating of “Buy” and an average target price of $40.04.

AST SpaceMobile Price Performance

Shares of ASTS stock opened at $26.17 on Tuesday. AST SpaceMobile has a 1 year low of $1.97 and a 1 year high of $39.08. The firm’s 50 day moving average is $23.99 and its 200-day moving average is $25.40. The firm has a market capitalization of $7.58 billion, a price-to-earnings ratio of -12.34 and a beta of 1.62. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31.

Institutional Investors Weigh In On AST SpaceMobile

A number of institutional investors and hedge funds have recently modified their holdings of the business. First Heartland Consultants Inc. raised its stake in shares of AST SpaceMobile by 42.3% during the fourth quarter. First Heartland Consultants Inc. now owns 14,499 shares of the company’s stock worth $306,000 after buying an additional 4,311 shares during the last quarter. PharVision Advisers LLC bought a new stake in AST SpaceMobile in the fourth quarter valued at approximately $541,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in AST SpaceMobile by 49.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 275,810 shares of the company’s stock valued at $5,820,000 after purchasing an additional 91,536 shares in the last quarter. Twinbeech Capital LP bought a new stake in AST SpaceMobile in the fourth quarter valued at approximately $4,684,000. Finally, Two Sigma Investments LP increased its stake in AST SpaceMobile by 117.5% in the fourth quarter. Two Sigma Investments LP now owns 51,874 shares of the company’s stock valued at $1,095,000 after purchasing an additional 28,025 shares in the last quarter. 60.95% of the stock is owned by 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.