Deutsche Bank Aktiengesellschaft Cuts AST SpaceMobile (NASDAQ:ASTS) Price Target to $31.00

AST SpaceMobile (NASDAQ:ASTS – Get Rating) had its price objective reduced by Deutsche Bank Aktiengesellschaft from $32.00 to $31.00 in a report issued on Tuesday, The Fly reports. Deutsche Bank Aktiengesellschaft’s target price would suggest a potential upside of 298.46% from the company’s previous close.

Shares of ASTS stock opened at $7.78 on Tuesday. AST SpaceMobile has a 1 year low of $4.84 and a 1 year high of $15.48. The company’s fifty day simple moving average is $8.85 and its two-hundred day simple moving average is $8.34. The company has a debt-to-equity ratio of 0.02, a current ratio of 11.91 and a quick ratio of 15.64. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of -13.19 and a beta of 0.63.

AST SpaceMobile (NASDAQ:ASTS – Get Rating) last issued its quarterly earnings data on Thursday, March 31st. The company reported ($0.06) EPS for the quarter. The business had revenue of $6.22 million for the quarter. AST SpaceMobile had a negative return on equity of 20.08% and a negative net margin of 214.60%. Equities research analysts anticipate that AST SpaceMobile will post -0.5 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada purchased a new stake in AST SpaceMobile during the second quarter valued at about $27,000. Future Financial Wealth Managment LLC bought a new stake in AST SpaceMobile in the fourth quarter valued at approximately $41,000. UBS Group AG grew its holdings in AST SpaceMobile by 45.3% in the 1st quarter. UBS Group AG now owns 4,222 shares of the company’s stock worth $42,000 after acquiring an additional 1,316 shares during the last quarter. Bank of America Corp DE purchased a new position in shares of AST SpaceMobile in the second quarter valued at about $91,000. Finally, Commonwealth Equity Services LLC bought a new position in shares of AST SpaceMobile during the fourth quarter valued at about $93,000. 24.84% of the stock is owned by institutional investors.

About AST SpaceMobile (Get Rating)

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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