AST SpaceMobile (NASDAQ:ASTS) PT Raised to $32.00 at Deutsche Bank Aktiengesellschaft

AST SpaceMobile (NASDAQ:ASTSGet Rating) had its price objective increased by equities research analysts at Deutsche Bank Aktiengesellschaft from $30.00 to $32.00 in a research note issued to investors on Wednesday, The Fly reports. Deutsche Bank Aktiengesellschaft’s price objective suggests a potential upside of 380.48% from the company’s previous close.

Several other brokerages also recently weighed in on ASTS. TheStreet downgraded AST SpaceMobile from a “c-” rating to a “d” rating in a report on Monday, October 3rd. Barclays cut their price objective on AST SpaceMobile from $29.00 to $15.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 19th. Finally, B. Riley assumed coverage on AST SpaceMobile in a research report on Friday, October 28th. They set a “buy” rating and a $15.00 price target on the stock.

AST SpaceMobile Stock Up 2.8 %

AST SpaceMobile stock opened at $6.66 on Wednesday. The stock’s fifty day moving average is $7.11 and its two-hundred day moving average is $7.86. The company has a debt-to-equity ratio of 0.02, a current ratio of 10.64 and a quick ratio of 10.63. AST SpaceMobile has a 1-year low of $4.84 and a 1-year high of $14.27. The stock has a market cap of $1.22 billion, a PE ratio of -13.06 and a beta of 0.76.

Institutional Trading of AST SpaceMobile

Hedge funds have recently modified their holdings of the business. Royal Bank of Canada lifted its holdings in shares of AST SpaceMobile by 357.3% in 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 in the last quarter. UBS Group AG raised its holdings in shares of 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. Millennium Management LLC purchased a new stake in shares of AST SpaceMobile during the second quarter worth $65,000. Wolverine Asset Management LLC purchased a new stake in shares of AST SpaceMobile during the third quarter worth $76,000. Finally, Summit Trail Advisors LLC purchased a new stake in shares of AST SpaceMobile during the second quarter worth $76,000. Hedge funds and other institutional investors own 6.68% of the company’s stock.

About AST SpaceMobile

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AST SpaceMobile, Inc operates space-based cellular broadband network for mobile phones. Its SpaceMobile service provides mobile broadband services for users traveling in and out of areas without terrestrial mobile services on land, at sea, or in flight. The company is headquartered in Midland, Texas.

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