FY2024 EPS Estimates for AST SpaceMobile Boosted by Analyst

AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) - Equities researchers at B. Riley boosted their FY2024 earnings per share (EPS) estimates for shares of AST SpaceMobile in a report released on Monday, November 11th. B. Riley analyst M. Crawford now anticipates that the company will post earnings of ($0.72) per share for the year, up from their previous forecast of ($0.78). B. Riley currently has a "Buy" rating and a $36.00 price target on the stock. The consensus estimate for AST SpaceMobile's current full-year earnings is ($0.88) per share. B. Riley also issued estimates for AST SpaceMobile's Q4 2024 earnings at ($0.15) EPS and FY2025 earnings at ($0.23) EPS.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($0.14) EPS for the quarter, topping analysts' consensus estimates of ($0.19) by $0.05. The firm had revenue of $0.90 million during the quarter, compared to analyst estimates of $2.00 million.

A number of other research analysts have also commented on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of AST SpaceMobile from $22.00 to $63.00 and gave the company a "buy" rating in a research note on Wednesday, September 4th. UBS Group lifted their price objective on shares of AST SpaceMobile from $13.00 to $30.00 and gave the company a "buy" rating in a research note on Thursday, August 15th. Finally, Scotiabank boosted their target price on shares of AST SpaceMobile from $28.00 to $45.90 and gave the stock a "sector outperform" rating in a research report on Monday, August 26th.

AST SpaceMobile Stock Performance

ASTS traded down $0.37 during trading hours on Thursday, hitting $27.52. 9,294,940 shares of the stock were exchanged, compared to its average volume of 10,607,905. The company has a debt-to-equity ratio of 0.83, a current ratio of 6.38 and a quick ratio of 6.38. AST SpaceMobile has a 12 month low of $1.97 and a 12 month high of $39.08. The stock has a 50-day simple moving average of $25.70 and a 200-day simple moving average of $18.08. The stock has a market cap of $7.41 billion, a price-to-earnings ratio of -21.48 and a beta of 1.64.

Insider Activity at AST SpaceMobile

In related news, Director Adriana Cisneros purchased 4,934 shares of the business's stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average cost of $26.32 per share, for a total transaction of $129,862.88. Following the completion of the purchase, the director now owns 774,772 shares in the company, valued at approximately $20,391,999.04. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Adriana Cisneros purchased 4,934 shares of the stock in a transaction on Friday, September 6th. The stock was purchased at an average price of $26.32 per share, for a total transaction of $129,862.88. Following the acquisition, the director now owns 774,772 shares in the company, valued at $20,391,999.04. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Shanti B. Gupta sold 80,000 shares of AST SpaceMobile stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $25.83, for a total value of $2,066,400.00. Following the completion of the sale, the chief operating officer now owns 393,232 shares of the company's stock, valued at approximately $10,157,182.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 127,700 shares of company stock worth $3,220,524. Insiders own 41.80% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Fairfield Financial Advisors LTD purchased a new stake in AST SpaceMobile in the third quarter worth $26,000. Hollencrest Capital Management purchased a new stake in shares of AST SpaceMobile during the 3rd quarter valued at approximately $26,000. Rakuten Securities Inc. bought a new position in AST SpaceMobile in the 3rd quarter worth approximately $68,000. KBC Group NV purchased a new position in AST SpaceMobile in the 3rd quarter valued at approximately $104,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in shares of AST SpaceMobile during the third quarter worth $105,000. Institutional investors own 60.95% of the company's stock.

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.