UBS Group Increases AST SpaceMobile (NASDAQ:ASTS) Price Target to $13.00

AST SpaceMobile (NASDAQ:ASTSFree Report) had its price target lifted by UBS Group from $7.00 to $13.00 in a research note issued to investors on Monday, Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also issued reports on the stock. Deutsche Bank Aktiengesellschaft cut their price target on shares of AST SpaceMobile from $23.00 to $19.00 and set a buy rating for the company in a research report on Wednesday, April 3rd. Scotiabank upped their price target on shares of AST SpaceMobile from $7.40 to $12.90 and gave the company a sector outperform rating in a research report on Thursday, May 30th.

Check Out Our Latest Research Report on ASTS

AST SpaceMobile Stock Up 2.3 %

Shares of NASDAQ:ASTS opened at $9.98 on Monday. AST SpaceMobile has a 52-week low of $1.97 and a 52-week high of $10.34. The firm has a fifty day moving average of $4.29 and a 200 day moving average of $4.03. The firm has a market capitalization of $2.57 billion, a PE ratio of -10.18 and a beta of 1.57. The company has a debt-to-equity ratio of 0.56, a quick ratio of 7.51 and a current ratio of 7.51.

AST SpaceMobile (NASDAQ:ASTSGet Free Report) last announced its earnings results on Wednesday, May 15th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.02. The company had revenue of $0.50 million during the quarter, compared to analysts’ expectations of $3.00 million. As a group, research analysts anticipate that AST SpaceMobile will post -0.66 EPS for the current fiscal year.

Hedge Funds Weigh In On AST SpaceMobile

Hedge funds and other institutional investors have recently modified their holdings of the company. Quantbot Technologies LP bought a new position in shares of AST SpaceMobile during the third quarter valued at about $83,000. Hudson Bay Capital Management LP raised its stake in AST SpaceMobile by 31.3% in the third quarter. Hudson Bay Capital Management LP now owns 1,051,615 shares of the company’s stock worth $3,996,000 after buying an additional 250,389 shares in the last quarter. Cantor Fitzgerald L. P. bought a new position in AST SpaceMobile in the fourth quarter worth about $66,000. PNC Financial Services Group Inc. raised its stake in AST SpaceMobile by 319.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 163,296 shares of the company’s stock worth $985,000 after buying an additional 124,322 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its stake in AST SpaceMobile by 33.4% in the third quarter. State Board of Administration of Florida Retirement System now owns 22,940 shares of the company’s stock worth $87,000 after buying an additional 5,740 shares in the last quarter. 60.95% of the stock is owned by institutional investors.

About AST SpaceMobile

(Get Free Report)

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.

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