AST SpaceMobile FY2024 EPS Estimate Increased by B. Riley

AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) - Equities research analysts at B. Riley lifted their FY2024 EPS estimates for shares of AST SpaceMobile in a research report issued to clients and investors on Tuesday, February 25th. B. Riley analyst M. Crawford now forecasts that the company will post earnings per share of ($0.39) for the year, up from their prior estimate of ($0.40). The consensus estimate for AST SpaceMobile's current full-year earnings is ($0.40) per share. B. Riley also issued estimates for AST SpaceMobile's Q4 2024 earnings at ($0.11) EPS, FY2025 earnings at ($0.20) EPS and FY2026 earnings at ($0.15) EPS.

A number of other research firms have also issued reports on ASTS. UBS Group raised their price target on shares of AST SpaceMobile from $30.00 to $31.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. Scotiabank reduced their price target on shares of AST SpaceMobile from $44.70 to $40.20 and set a "sector outperform" rating for the company in a research report on Friday, January 24th. Finally, Cantor Fitzgerald raised shares of AST SpaceMobile to a "strong-buy" rating in a research report on Tuesday, February 25th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $40.04.

AST SpaceMobile Stock Performance

ASTS traded up $1.03 during trading on Thursday, reaching $27.11. 9,518,736 shares of the company's stock were exchanged, compared to its average volume of 11,852,060. AST SpaceMobile has a 1 year low of $1.97 and a 1 year high of $39.08. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80. The stock has a market capitalization of $7.85 billion, a P/E ratio of -12.79 and a beta of 1.62. The company's fifty day simple moving average is $24.21 and its 200-day simple moving average is $25.50.

Hedge Funds Weigh In On AST SpaceMobile

Several institutional investors have recently made changes to their positions in the company. Amalgamated Bank increased its holdings in shares of AST SpaceMobile by 17.4% during the 3rd quarter. Amalgamated Bank now owns 4,578 shares of the company's stock valued at $120,000 after purchasing an additional 679 shares in the last quarter. Xponance Inc. grew its stake in AST SpaceMobile by 8.7% in the 4th quarter. Xponance Inc. now owns 9,676 shares of the company's stock valued at $204,000 after acquiring an additional 772 shares during the period. Hollencrest Capital Management acquired a new stake in AST SpaceMobile in the 3rd quarter valued at $26,000. Fairfield Financial Advisors LTD acquired a new stake in AST SpaceMobile in the 3rd quarter valued at $26,000. Finally, CIBC Private Wealth Group LLC grew its stake in AST SpaceMobile by 106.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company's stock valued at $53,000 after acquiring an additional 1,222 shares during the period. 60.95% of the stock is owned by hedge funds and other institutional investors.

About AST SpaceMobile

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.