AST SpaceMobile (NASDAQ:ASTS) Stock Price Expected to Rise, UBS Group Analyst Says

AST SpaceMobile (NASDAQ:ASTS) had its price target raised by analysts at UBS Group from $31.00 to $38.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s price target indicates a potential upside of 12.43% from the company’s current price.

A number of other research firms have also recently commented on ASTS. Cantor Fitzgerald reiterated an “overweight” rating and set a $30.00 price objective on shares of AST SpaceMobile in a research report on Tuesday. Scotiabank lifted their price target on shares of AST SpaceMobile from $40.20 to $47.90 and gave the stock a “sector outperform” rating in a report on Wednesday. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $42.98.

AST SpaceMobile Price Performance

AST SpaceMobile stock traded up $5.19 during mid-day trading on Wednesday, hitting $33.80. 27,555,197 shares of the company were exchanged, compared to its average volume of 12,603,678. AST SpaceMobile has a 12-month low of $1.97 and a 12-month high of $39.08. The company has a market capitalization of $9.79 billion, a P/E ratio of -15.94 and a beta of 1.62. The business’s 50 day simple moving average is $24.36 and its two-hundred day simple moving average is $25.47. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80.

Hedge Funds Weigh In On AST SpaceMobile

Several institutional investors have recently added to or reduced their stakes in ASTS. JPMorgan Chase & Co. grew its holdings in AST SpaceMobile by 235.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 247,781 shares of the company’s stock valued at $6,479,000 after buying an additional 174,007 shares during the period. Van ECK Associates Corp grew its holdings in AST SpaceMobile by 141.1% in the third quarter. Van ECK Associates Corp now owns 103,437 shares of the company’s stock valued at $2,716,000 after purchasing an additional 60,530 shares during the period. Algert Global LLC acquired a new position in AST SpaceMobile during the third quarter worth approximately $768,000. Handelsbanken Fonder AB purchased a new position in AST SpaceMobile during the fourth quarter worth approximately $755,000. Finally, Oppenheimer & Co. Inc. boosted its holdings in shares of AST SpaceMobile by 6.0% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 846,072 shares of the company’s stock valued at $22,125,000 after purchasing an additional 47,600 shares during the last quarter. 60.95% of the stock is currently owned by institutional investors and hedge funds.

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.