AST SpaceMobile (NASDAQ:ASTS) Given New $47.90 Price Target at Scotiabank

AST SpaceMobile (NASDAQ:ASTS) had its price objective increased by Scotiabank from $40.20 to $47.90 in a research report released on Wednesday,Benzinga reports. They currently have a sector outperform rating on the stock.

Several other brokerages have also recently weighed in on ASTS. Cantor Fitzgerald reiterated an “overweight” rating and set a $30.00 price target on shares of AST SpaceMobile in a research report on Tuesday. UBS Group upped their price target on AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, AST SpaceMobile has a consensus rating of “Buy” and an average target price of $42.98.

AST SpaceMobile Trading Up 18.1 %

Shares of ASTS opened at $33.80 on Wednesday. The business’s 50-day moving average price is $24.57 and its 200-day moving average price is $25.53. AST SpaceMobile has a twelve month low of $1.97 and a twelve month high of $39.08. The stock has a market cap of $9.79 billion, a PE ratio of -15.94 and a beta of 1.62. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31.

Institutional Trading of AST SpaceMobile

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hollencrest Capital Management purchased a new stake in AST SpaceMobile in the third quarter worth $26,000. Summit Securities Group LLC purchased a new stake in AST SpaceMobile in the fourth quarter worth $37,000. Bernard Wealth Management Corp. purchased a new stake in AST SpaceMobile in the fourth quarter worth $42,000. Golden State Wealth Management LLC purchased a new stake in AST SpaceMobile in the fourth quarter worth $46,000. Finally, CIBC Private Wealth Group LLC lifted its stake in AST SpaceMobile by 106.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company’s stock worth $53,000 after acquiring an additional 1,222 shares during the period. Hedge funds and other institutional investors own 60.95% of the company’s stock.

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.