Scotiabank Issues Positive Forecast for AST SpaceMobile (NASDAQ:ASTS) Stock Price

AST SpaceMobile (NASDAQ:ASTS) had its price objective lifted by Scotiabank from $40.20 to $47.90 in a research note published on Wednesday morning,Benzinga reports. Scotiabank currently has a sector outperform rating on the stock.

Several other equities analysts have also issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $30.00 price target on shares of AST SpaceMobile in a research report on Tuesday. UBS Group lifted their price target on AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $42.98.

AST SpaceMobile Stock Performance

Shares of AST SpaceMobile stock opened at $33.80 on Wednesday. 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 firm has a market capitalization of $9.79 billion, a P/E ratio of -15.94 and a beta of 1.62. The business has a fifty day simple moving average of $24.57 and a two-hundred day simple moving average of $25.53. AST SpaceMobile has a 12 month low of $1.97 and a 12 month high of $39.08.

Institutional Investors Weigh In On AST SpaceMobile

Several large investors have recently bought and sold shares of ASTS. Vanguard Group Inc. increased its holdings in AST SpaceMobile by 49.4% in the 4th quarter. Vanguard Group Inc. now owns 14,987,351 shares of the company’s stock worth $316,233,000 after buying an additional 4,955,941 shares in the last quarter. T. Rowe Price Investment Management Inc. purchased a new position in shares of AST SpaceMobile during the 4th quarter valued at about $59,523,000. Privium Fund Management B.V. purchased a new position in shares of AST SpaceMobile during the 3rd quarter valued at about $21,476,000. Charles Schwab Investment Management Inc. lifted its position in shares of AST SpaceMobile by 228.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,131,705 shares of the company’s stock valued at $29,594,000 after buying an additional 787,566 shares in the last quarter. Finally, State Street Corp lifted its position in shares of AST SpaceMobile by 14.8% during the 3rd 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 in the last quarter. 60.95% of the stock is currently 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.