AST SpaceMobile (NASDAQ:ASTS) Research Coverage Started at Scotiabank

Analysts at Scotiabank initiated coverage on shares of AST SpaceMobile (NASDAQ:ASTS - Get Free Report) in a report issued on Wednesday, Briefing.com reports. The brokerage set a "sector outperform" rating and a $7.50 price target on the stock. Scotiabank's price target would indicate a potential upside of 149.17% from the company's previous close.

Separately, Deutsche Bank Aktiengesellschaft dropped their price target on shares of AST SpaceMobile from $32.00 to $23.00 and set a "buy" rating for the company in a research note on Tuesday, November 21st.

AST SpaceMobile Stock Down 3.5 %

Shares of NASDAQ:ASTS opened at $3.01 on Wednesday. The company has a current ratio of 6.06, a quick ratio of 6.06 and a debt-to-equity ratio of 0.20. The company has a fifty day simple moving average of $3.74 and a 200 day simple moving average of $4.00. The firm has a market cap of $657.14 million, a PE ratio of -3.58 and a beta of 0.88. AST SpaceMobile has a 12-month low of $2.59 and a 12-month high of $7.14.

Institutional Trading of AST SpaceMobile

Institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada increased its stake in AST SpaceMobile by 357.3% during the third quarter. Royal Bank of Canada now owns 3,576 shares of the company's stock valued at $26,000 after purchasing an additional 2,794 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in AST SpaceMobile by 120.6% during the third quarter. Tower Research Capital LLC TRC now owns 7,128 shares of the company's stock valued at $27,000 after purchasing an additional 3,897 shares during the last quarter. Banque Cantonale Vaudoise bought a new stake in AST SpaceMobile during the second quarter valued at $34,000. UBS Group AG increased its stake in AST SpaceMobile by 45.3% during the first quarter. UBS Group AG now owns 4,222 shares of the company's stock valued at $42,000 after purchasing an additional 1,316 shares during the last quarter. Finally, CWM LLC bought a new stake in AST SpaceMobile during the second quarter valued at $47,000. Institutional investors own 54.53% of the company's stock.

AST SpaceMobile Company Profile

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.

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