AST SpaceMobile (NASDAQ:ASTS) Posts Quarterly Earnings Results, Beats Expectations By $0.06 EPS

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) issued its earnings results on Monday. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.06, Zacks reports.

AST SpaceMobile Stock Down 5.5 %

NASDAQ ASTS traded down $1.49 on Monday, hitting $25.62. The stock had a trading volume of 14,924,202 shares, compared to its average volume of 11,926,082. The business's fifty day moving average price is $24.21 and its 200 day moving average price is $25.53. The stock has a market cap of $7.42 billion, a price-to-earnings ratio of -12.08 and a beta of 1.62. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80. AST SpaceMobile has a 52-week low of $1.97 and a 52-week high of $39.08.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. UBS Group lifted their price objective on shares of AST SpaceMobile from $30.00 to $31.00 and gave the company a "buy" rating in a report on Friday, November 15th. Scotiabank cut their price target on AST SpaceMobile from $44.70 to $40.20 and set a "sector outperform" rating on the stock in a report on Friday, January 24th. Finally, Cantor Fitzgerald raised AST SpaceMobile to a "strong-buy" rating in a research report on Tuesday, February 25th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, AST SpaceMobile has an average rating of "Buy" and a consensus price target of $40.04.

AST SpaceMobile Company Profile

AST SpaceMobile, Inc, together with its subsidiaries, develops and provides access to a space-based cellular broadband network for smartphones in the United States. Its SpaceMobile service provides cellular broadband services to end-users who are out of terrestrial cellular coverage. The company was founded in 2017 and is headquartered in Midland, Texas.

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