AST SpaceMobile (NASDAQ:ASTS) Price Target Cut to $19.00 by Analysts at Deutsche Bank Aktiengesellschaft

AST SpaceMobile (NASDAQ:ASTS) had its target price lowered by Deutsche Bank Aktiengesellschaft from $23.00 to $19.00 in a research report sent to investors on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts also recently issued reports on the stock. Scotiabank decreased their price objective on shares of AST SpaceMobile from $7.50 to $7.40 and set a sector outperform rating for the company in a research note on Tuesday, April 2nd. UBS Group initiated coverage on shares of AST SpaceMobile in a research note on Friday, March 8th. They issued a buy rating and a $7.00 price objective for the company.

AST SpaceMobile Stock Performance

NASDAQ:ASTS opened at $2.21 on Wednesday. The firm has a market capitalization of $481.40 million, a PE ratio of -2.10 and a beta of 0.87. The business’s fifty day moving average price is $2.98 and its 200 day moving average price is $3.82. 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 12 month low of $1.97 and a 12 month high of $7.10.

Hedge Funds Weigh In On AST SpaceMobile

Large investors have recently bought and sold shares of the stock. Royal Bank of Canada boosted its stake in shares of AST SpaceMobile by 357.3% during the third quarter. Royal Bank of Canada now owns 3,576 shares of the company’s stock worth $26,000 after buying an additional 2,794 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of AST SpaceMobile by 120.6% during the third quarter. Tower Research Capital LLC TRC now owns 7,128 shares of the company’s stock worth $27,000 after buying an additional 3,897 shares during the period. UBS Group AG boosted its stake 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 buying an additional 1,316 shares during the period. Bayesian Capital Management LP acquired a new stake in shares of AST SpaceMobile during the second quarter worth about $56,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of AST SpaceMobile during the fourth quarter worth about $57,000. Institutional investors and hedge funds 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.