FY2024 EPS Estimates for AST SpaceMobile Raised by Analyst

AST SpaceMobile, Inc. (NASDAQ:ASTS) – Equities research analysts at B. Riley increased their FY2024 EPS estimates for AST SpaceMobile in a report released on Monday, November 11th. B. Riley analyst M. Crawford now expects that the company will post earnings of ($0.72) per share for the year, up from their prior forecast of ($0.78). B. Riley has a “Buy” rating and a $36.00 price objective 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.

A number of other brokerages have also issued reports on ASTS. Scotiabank raised their price target on AST SpaceMobile from $28.00 to $45.90 and gave the stock a “sector outperform” rating in a research note on Monday, August 26th. UBS Group increased their target price on AST SpaceMobile from $13.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price 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.

AST SpaceMobile Stock Down 3.9 %

Shares of NASDAQ ASTS opened at $26.80 on Thursday. AST SpaceMobile has a 1 year low of $1.97 and a 1 year high of $39.08. The firm has a 50-day simple moving average of $25.67 and a two-hundred day simple moving average of $18.14. The company has a market cap of $7.22 billion, a P/E ratio of -21.44 and a beta of 1.64. 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 (NASDAQ:ASTS) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.05. The firm had revenue of $0.90 million for the quarter, compared to the consensus estimate of $2.00 million.

Insider Buying and Selling

In related news, COO Shanti B. Gupta sold 80,000 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were 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 directly owns 393,232 shares of the company’s stock, valued at $10,157,182.56. This represents a 16.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Adriana Cisneros bought 4,934 shares of the company’s stock in a transaction on Friday, September 6th. The shares were acquired at an average price of $26.32 per share, for a total transaction of $129,862.88. Following the completion of the acquisition, the director now owns 774,772 shares in the company, valued at $20,391,999.04. This represents a 0.64 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 127,700 shares of company stock valued at $3,220,524 over the last quarter. 41.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AST SpaceMobile

Several institutional investors have recently bought and sold shares of the business. Janus Henderson Group PLC boosted its position in AST SpaceMobile by 209.9% during the 1st quarter. Janus Henderson Group PLC now owns 7,450,467 shares of the company’s stock valued at $21,606,000 after acquiring an additional 5,046,667 shares in the last quarter. Vanguard Group Inc. boosted its position in AST SpaceMobile by 49.9% during the first quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company’s stock valued at $19,325,000 after purchasing an additional 2,217,531 shares in the last quarter. Masters Capital Management LLC purchased a new position in AST SpaceMobile in the first quarter valued at about $2,900,000. Privium Fund Management B.V. bought a new position in AST SpaceMobile in the third quarter worth about $21,476,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of AST SpaceMobile during the second quarter valued at about $9,270,000. 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.