UBS Group Initiates Coverage on AST SpaceMobile (NASDAQ:ASTS)

Analysts at UBS Group initiated coverage on shares of AST SpaceMobile (NASDAQ:ASTS - Get Free Report) in a report issued on Friday, Briefing.com reports. The firm set a "buy" rating and a $7.00 price target on the stock. UBS Group's price target suggests a potential upside of 137.29% from the stock's current price.

Other equities research analysts also recently issued research reports about the company. Scotiabank started coverage on AST SpaceMobile in a research report on Wednesday. They set a "sector outperform" rating and a $7.50 target price for the company. Deutsche Bank Aktiengesellschaft dropped their price objective on AST SpaceMobile from $32.00 to $23.00 and set a "buy" rating for the company in a report on Tuesday, November 21st.

AST SpaceMobile Stock Performance

ASTS stock opened at $2.95 on Friday. The company has a 50 day moving average price of $3.61 and a 200 day moving average price of $3.99. AST SpaceMobile has a fifty-two week low of $2.59 and a fifty-two week high of $7.10. The company has a debt-to-equity ratio of 0.20, a current ratio of 6.06 and a quick ratio of 6.06. The stock has a market capitalization of $644.04 million, a PE ratio of -3.51 and a beta of 0.88.

Institutional Trading of AST SpaceMobile

A number of institutional investors have recently modified their holdings of the company. Royal Bank of Canada increased its position in shares of AST SpaceMobile by 357.3% during the 3rd quarter. Royal Bank of Canada now owns 3,576 shares of the company's stock worth $26,000 after purchasing an additional 2,794 shares during the last quarter. UBS Group AG raised its position in AST SpaceMobile by 45.3% during the first quarter. UBS Group AG now owns 4,222 shares of the company's stock worth $42,000 after acquiring an additional 1,316 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in AST SpaceMobile by 1,831.1% in the first quarter. Tower Research Capital LLC TRC now owns 5,890 shares of the company's stock valued at $30,000 after acquiring an additional 5,585 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in shares of AST SpaceMobile in the 2nd quarter valued at about $34,000. Finally, CWM LLC acquired a new position in shares of AST SpaceMobile during the 2nd quarter worth about $47,000. 54.53% of the stock is currently owned by institutional investors.

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.

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