Cantor Fitzgerald Upgrades AST SpaceMobile (NASDAQ:ASTS) to “Strong-Buy”

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

ASTS has been the subject of a number of other research reports. UBS Group increased 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. Scotiabank reduced their price objective on 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 given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $40.04.

AST SpaceMobile Trading Down 8.4 %

NASDAQ:ASTS opened at $26.17 on Tuesday. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31. AST SpaceMobile has a 1-year low of $1.97 and a 1-year high of $39.08. 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 stock has a fifty day simple moving average of $23.99 and a 200 day simple moving average of $25.40.

Institutional Investors Weigh In On AST SpaceMobile

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of AST SpaceMobile by 49.4% in the 4th quarter. Vanguard Group Inc. now owns 14,987,351 shares of the company’s stock valued at $316,233,000 after acquiring an additional 4,955,941 shares in the last quarter. Geode Capital Management LLC raised its stake 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 valued at $73,801,000 after acquiring an additional 229,759 shares in the last quarter. State Street Corp raised its stake in shares of AST SpaceMobile by 14.8% in the 3rd quarter. State Street Corp now owns 3,091,577 shares of the company’s stock valued at $80,845,000 after acquiring an additional 399,713 shares in the last quarter. T. Rowe Price Investment Management Inc. bought a new position in shares of AST SpaceMobile in the 4th quarter valued at approximately $59,523,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of AST SpaceMobile by 11.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,266,713 shares of the company’s stock valued at $26,728,000 after acquiring an additional 135,008 shares in 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.