AST SpaceMobile (NASDAQ:ASTS) PT Lowered to $19.00

AST SpaceMobile (NASDAQ:ASTS) had its target price dropped by investment analysts at Deutsche Bank Aktiengesellschaft from $23.00 to $19.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock.

Other equities research analysts have also recently issued reports about the company. Scotiabank reduced their price objective on AST SpaceMobile from $7.50 to $7.40 and set a “sector outperform” rating on the stock in a research note on Tuesday. UBS Group began coverage on AST SpaceMobile in a research note on Friday, March 8th. They set a “buy” rating and a $7.00 price objective on the stock.

AST SpaceMobile Trading Down 3.0 %

Shares of NASDAQ ASTS opened at $2.25 on Wednesday. The business’s 50 day moving average is $2.99 and its two-hundred day moving average is $3.84. The company has a debt-to-equity ratio of 0.20, a current ratio of 6.06 and a quick ratio of 6.06. AST SpaceMobile has a 1-year low of $1.97 and a 1-year high of $7.10. The stock has a market capitalization of $491.22 million, a P/E ratio of -2.14 and a beta of 0.87.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ASTS. Raymond James & Associates bought a new position in shares of AST SpaceMobile during the first quarter valued at approximately $102,000. Cambridge Investment Research Advisors Inc. bought a new position in shares of AST SpaceMobile during the first quarter valued at approximately $358,000. HighTower Advisors LLC grew its stake in shares of AST SpaceMobile by 97.9% during the first quarter. HighTower Advisors LLC now owns 22,135 shares of the company’s stock valued at $221,000 after buying an additional 10,950 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of AST SpaceMobile by 14.8% during the first quarter. PNC Financial Services Group Inc. now owns 48,519 shares of the company’s stock valued at $485,000 after buying an additional 6,246 shares during the last quarter. Finally, Penserra Capital Management LLC grew its stake in shares of AST SpaceMobile by 18.8% during the first quarter. Penserra Capital Management LLC now owns 151,139 shares of the company’s stock valued at $1,507,000 after buying an additional 23,910 shares during the last quarter. Institutional investors own 60.95% of the company’s stock.

About AST SpaceMobile

AST SpaceMobile, Inc, together with its subsidiaries, operates space-based cellular broadband network for mobile phones in the United States. Its SpaceMobile service provides mobile broadband services to end-users who are out of terrestrial cellular coverage. AST SpaceMobile, Inc was founded in 2017 and is based in Midland, Texas.