Cantor Fitzgerald has initiated coverage on AST SpaceMobile (NASDAQ: ASTS), signaling growing interest in the satellite communications company.

Cantor Fitzgerald recently initiated coverage on AST SpaceMobile (NASDAQ: ASTS), assigning an “overweight” rating and setting a $30 price target, indicating a potential 21.41% upside from its previous closing price. This move reflects growing confidence in the company’s ambitious satellite-to-smartphone connectivity plans.

Several other analysts have also weighed in on AST SpaceMobile. Scotiabank adjusted its price target from $44.70 to $40.20 while maintaining a “sector outperform” rating. Meanwhile, UBS raised its target from $30 to $31 and reiterated a “buy” rating. Currently, five analysts have issued a “buy” rating, and the stock has an average price target of $40.04, according to recent data.

AST SpaceMobile opened at $24.71 on Thursday, with a market cap of $7.16 billion. The stock’s 50-day moving average is $22.42, and the 200-day moving average stands at $24.25. The company has a debt-to-equity ratio of 0.31 and a strong current and quick ratio of 5.80, reflecting solid financial health. Over the past year, the stock has ranged from a low of $1.97 to a high of $39.08.

Institutional investors are showing increased interest in AST SpaceMobile. Several large funds have recently adjusted their positions. The Manufacturers Life Insurance Company increased its stake by 31.9% in the second quarter, while Dynamic Advisor Solutions LLC boosted its holdings by over 263% in the third quarter. Other firms, including Miracle Mile Advisors LLC, Brookstone Capital Management, and Future Financial Wealth Management LLC, also acquired new positions in the company. Currently, institutional investors own approximately 60.95% of AST SpaceMobile’s stock.

The increasing attention from analysts and institutional investors underscores the growing excitement around AST SpaceMobile’s potential to reshape global connectivity through its innovative satellite network.

Cantor Fitzgerald has initiated coverage on AST SpaceMobile (NASDAQ: ASTS), signaling growing interest in the satellite communications company. The firm noted AST SpaceMobile’s potential to revolutionize mobile connectivity by enabling direct satellite-to-smartphone communication, a game-changer for global coverage.

Cantor analysts emphasized the company’s innovative technology and its potential to disrupt traditional wireless networks, particularly in underserved areas. AST SpaceMobile is developing the first and only space-based cellular broadband network, which could offer significant opportunities in both developed and emerging markets.

The report highlighted the company’s recent successful satellite tests and strategic partnerships with major telecom operators, positioning ASTS as a leader in the growing satellite communication sector. With increasing demand for reliable global coverage, AST SpaceMobile’s long-term growth prospects appear promising, according to Cantor Fitzgerald’s analysis.

This move by Cantor underscores the growing recognition of AST SpaceMobile’s disruptive potential and could attract additional investor attention.