AST SpaceMobile, Inc. Expected to Post Q3 2024 Earnings of ($0.20) Per Share (NASDAQ:ASTS)

AST SpaceMobile, Inc. (NASDAQ:ASTS) – Stock analysts at B. Riley reduced their Q3 2024 EPS estimates for shares of AST SpaceMobile in a research note issued on Thursday, August 15th. B. Riley analyst M. Crawford now expects that the company will earn ($0.20) per share for the quarter, down from their previous forecast of ($0.19). B. Riley has a “Buy” rating and a $26.00 price target on the stock. The consensus estimate for AST SpaceMobile’s current full-year earnings is ($0.65) per share. B. Riley also issued estimates for AST SpaceMobile’s FY2024 earnings at ($0.85) EPS and FY2025 earnings at ($0.30) EPS.

Other research analysts also recently issued reports about the stock. UBS Group upped their target price on shares of AST SpaceMobile from $13.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday. Scotiabank upped their target price on shares of AST SpaceMobile from $21.10 to $28.00 and gave the company a “sector outperform” rating in a research report on Friday.

AST SpaceMobile Stock Performance

AST SpaceMobile stock opened at $31.03 on Monday. The company has a current ratio of 7.51, a quick ratio of 7.51 and a debt-to-equity ratio of 0.56. AST SpaceMobile has a 1 year low of $1.97 and a 1 year high of $36.87. The company has a market cap of $7.99 billion, a PE ratio of -31.66 and a beta of 1.61. The company’s 50-day moving average is $14.80 and its two-hundred day moving average is $7.42.

Institutional Trading of AST SpaceMobile

A number of institutional investors and hedge funds have recently modified their holdings of ASTS. Janus Henderson Group PLC increased its stake in shares of AST SpaceMobile by 209.9% in 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 during the last quarter. Vanguard Group Inc. increased its stake in shares of AST SpaceMobile by 49.9% in the 1st quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company’s stock valued at $19,325,000 after acquiring an additional 2,217,531 shares during the last quarter. Broad Run Investment Management LLC increased its stake in shares of AST SpaceMobile by 74.8% in the 4th quarter. Broad Run Investment Management LLC now owns 3,962,853 shares of the company’s stock valued at $23,896,000 after acquiring an additional 1,695,805 shares during the last quarter. Masters Capital Management LLC bought a new stake in shares of AST SpaceMobile in the 1st quarter valued at about $2,900,000. Finally, Oppenheimer & Co. Inc. bought a new stake in shares of AST SpaceMobile in the 2nd quarter valued at about $9,270,000. 60.95% of the stock is owned by institutional investors.

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.