AST SpaceMobile (NASDAQ:ASTS) Price Target Raised to $63.00

AST SpaceMobile (NASDAQ:ASTS) had its price objective hoisted by Deutsche Bank Aktiengesellschaft from $22.00 to $63.00 in a research report released on Wednesday, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock.

Other research analysts also recently issued reports about the stock. Scotiabank raised their price objective on shares of AST SpaceMobile from $28.00 to $45.90 and gave the stock a sector outperform rating in a report on Monday, August 26th. UBS Group boosted their price objective on AST SpaceMobile from $13.00 to $30.00 and gave the company a buy rating in a research note on Thursday, August 15th. Finally, B. Riley increased their price objective on AST SpaceMobile from $26.00 to $36.00 and gave the stock a buy rating in a report on Thursday, August 29th.

AST SpaceMobile Stock Down 8.2 %

AST SpaceMobile stock opened at $26.11 on Wednesday. The firm has a 50 day moving average price of $21.07 and a 200-day moving average price of $10.38. The company has a quick ratio of 6.38, a current ratio of 6.38 and a debt-to-equity ratio of 0.83. AST SpaceMobile has a twelve month low of $1.97 and a twelve month high of $39.08. The company has a market capitalization of $6.72 billion, a P/E ratio of -26.64 and a beta of 1.63.

AST SpaceMobile (NASDAQ:ASTS) last announced its quarterly earnings data on Wednesday, August 14th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.05. The firm had revenue of $0.90 million for the quarter, compared to the consensus estimate of $2.00 million. As a group, equities analysts predict that AST SpaceMobile will post -0.78 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Janus Henderson Group PLC raised its position in shares of AST SpaceMobile by 209.9% in the first quarter. Janus Henderson Group PLC now owns 7,450,467 shares of the company’s stock worth $21,606,000 after buying an additional 5,046,667 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of AST SpaceMobile by 49.9% in the 1st quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company’s stock valued at $19,325,000 after acquiring an additional 2,217,531 shares in the last quarter. Broad Run Investment Management LLC boosted its position in shares of AST SpaceMobile by 74.8% during the 4th quarter. Broad Run Investment Management LLC now owns 3,962,853 shares of the company’s stock valued at $23,896,000 after acquiring an additional 1,695,805 shares during the last quarter. Masters Capital Management LLC purchased a new position in shares of AST SpaceMobile during the first quarter worth about $2,900,000. Finally, Oppenheimer & Co. Inc. bought a new position in shares of AST SpaceMobile in the second quarter worth approximately $9,270,000. 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.