Scotiabank Has Lowered Expectations for AST SpaceMobile (NASDAQ:ASTS) Stock Price

AST SpaceMobile (NASDAQ:ASTSFree Report) had its price objective reduced by Scotiabank from $44.70 to $40.20 in a research report report published on Friday,Benzinga reports. Scotiabank currently has a sector outperform rating on the stock.

Separately, UBS Group raised their target price on AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, November 15th.

Get Our Latest Research Report on AST SpaceMobile

AST SpaceMobile Trading Up 2.8 %

AST SpaceMobile stock opened at $20.35 on Friday. AST SpaceMobile has a 12 month low of $1.97 and a 12 month high of $39.08. The stock has a market cap of $5.90 billion, a price-to-earnings ratio of -9.60 and a beta of 1.64. The business has a 50 day moving average price of $23.02 and a two-hundred day moving average price of $23.89. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31.

Institutional Investors Weigh In On AST SpaceMobile

Several large investors have recently modified their holdings of the stock. Amalgamated Bank increased its position in shares of AST SpaceMobile by 17.4% during the 3rd quarter. Amalgamated Bank now owns 4,578 shares of the company’s stock worth $120,000 after purchasing an additional 679 shares in the last quarter. Fairfield Financial Advisors LTD acquired a new stake in shares of AST SpaceMobile during the third quarter worth approximately $26,000. Hollencrest Capital Management acquired a new position in shares of AST SpaceMobile in the 3rd quarter worth approximately $26,000. Calton & Associates Inc. grew its position in AST SpaceMobile by 14.5% during the 3rd quarter. Calton & Associates Inc. now owns 12,600 shares of the company’s stock worth $329,000 after acquiring an additional 1,600 shares during the last quarter. Finally, KBC Group NV grew its position in AST SpaceMobile by 63.8% during the 4th quarter. KBC Group NV now owns 6,509 shares of the company’s stock worth $137,000 after acquiring an additional 2,536 shares during the last quarter. 60.95% of the stock is currently owned by institutional investors.

AST SpaceMobile Company Profile

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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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