FY2024 EPS Estimates for AST SpaceMobile Boosted by B. Riley

AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) - B. Riley lifted their FY2024 EPS estimates for AST SpaceMobile in a research note issued to 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 forecast 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.

Several other analysts have also recently issued reports on ASTS. Cantor Fitzgerald upgraded AST SpaceMobile to a "strong-buy" rating in a research note on Tuesday, February 25th. Scotiabank lowered their price objective on 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, UBS Group raised their target price 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. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $40.04.

AST SpaceMobile Stock Down 6.8 %

Shares of ASTS traded down $1.86 during mid-day trading on Thursday, hitting $25.25. 10,953,720 shares of the company's stock were exchanged, compared to its average volume of 11,801,376. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80. AST SpaceMobile has a fifty-two week low of $1.97 and a fifty-two week high of $39.08. The company has a market cap of $7.32 billion, a price-to-earnings ratio of -11.94 and a beta of 1.62. The stock's 50-day moving average is $24.21 and its 200-day moving average is $25.53.

Institutional Investors Weigh In On AST SpaceMobile

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in AST SpaceMobile by 49.4% during the fourth quarter. Vanguard Group Inc. now owns 14,987,351 shares of the company's stock worth $316,233,000 after purchasing an additional 4,955,941 shares in the last quarter. T. Rowe Price Investment Management Inc. purchased a new position in shares of AST SpaceMobile in the 4th quarter valued at $59,523,000. Privium Fund Management B.V. acquired a new stake in AST SpaceMobile during the 3rd quarter worth $21,476,000. Charles Schwab Investment Management Inc. lifted its position in AST SpaceMobile by 228.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,131,705 shares of the company's stock valued at $29,594,000 after acquiring an additional 787,566 shares during the last quarter. Finally, State Street Corp boosted its stake in AST SpaceMobile by 14.8% in the third quarter. State Street Corp now owns 3,091,577 shares of the company's stock valued at $80,845,000 after acquiring an additional 399,713 shares in the last quarter. Hedge funds and other institutional investors own 60.95% of the company's stock.

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.