FY2024 EPS Estimates for AST SpaceMobile Lifted by B. Riley

AST SpaceMobile, Inc. (NASDAQ:ASTS) – Research analysts at B. Riley boosted their FY2024 earnings per share estimates for AST SpaceMobile in a research report issued on Monday, November 11th. B. Riley analyst M. Crawford now anticipates that the company will earn ($0.72) per share for the year, up from their prior estimate of ($0.78). B. Riley currently has a “Buy” rating and a $36.00 target price on the stock. The consensus estimate for AST SpaceMobile’s current full-year earnings is ($0.72) 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.

ASTS has been the topic of several other research reports. Scotiabank dropped their target price on AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating on the stock in a report on Friday. Deutsche Bank Aktiengesellschaft increased their target price on AST SpaceMobile from $22.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Finally, UBS Group raised their price objective on AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday.

AST SpaceMobile Stock Performance

NASDAQ:ASTS opened at $24.23 on Thursday. The firm has a market capitalization of $6.53 billion, a PE ratio of -11.43 and a beta of 1.64. The business’s fifty day moving average price is $25.63 and its 200 day moving average price is $18.30. 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.

AST SpaceMobile (NASDAQ:ASTS) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.05. The company had revenue of $0.90 million for the quarter, compared to analysts’ expectations of $2.00 million.

Institutional Investors Weigh In On AST SpaceMobile

A number of institutional investors have recently added to or reduced their stakes in the business. Amalgamated Bank boosted its holdings in AST SpaceMobile by 17.4% in 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. Victory Capital Management Inc. boosted its stake in shares of AST SpaceMobile by 5.5% during the 2nd quarter. Victory Capital Management Inc. now owns 15,542 shares of the company’s stock worth $180,000 after acquiring an additional 814 shares in the last quarter. Fairfield Financial Advisors LTD purchased a new stake in shares of AST SpaceMobile during the 3rd quarter worth approximately $26,000. Hollencrest Capital Management purchased a new stake in shares of AST SpaceMobile during the 3rd quarter worth approximately $26,000. Finally, Calton & Associates Inc. boosted its stake in shares of AST SpaceMobile by 14.5% during the 3rd quarter. Calton & Associates Inc. now owns 12,600 shares of the company’s stock worth $329,000 after acquiring an additional 1,600 shares in the last quarter. Hedge funds and other institutional investors own 60.95% of the company’s stock.

Insiders Place Their Bets

In other AST SpaceMobile news, Director Adriana Cisneros bought 4,934 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was acquired at an average price 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 of the company’s stock, valued at approximately $20,391,999.04. This represents a 0.64 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Shanti B. Gupta sold 80,000 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $25.83, for a total transaction 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 16.91 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 127,700 shares of company stock valued at $3,220,524. 41.80% of the stock is currently owned by insiders.

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.