FY2024 EPS Estimates for AST SpaceMobile Boosted by Analyst

AST SpaceMobile, Inc. (NASDAQ:ASTS) – Research analysts at B. Riley increased their FY2024 earnings per share estimates for shares of AST SpaceMobile in a research report issued to clients and investors 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 previous forecast of ($0.78). B. Riley 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.

Other equities research analysts also recently issued research reports about the company. UBS Group boosted their target price on AST SpaceMobile from $13.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft boosted their target price on AST SpaceMobile from $22.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Finally, Scotiabank boosted their target price on 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 Price Performance

AST SpaceMobile stock opened at $27.89 on Thursday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 6.38 and a current ratio of 6.38. The firm has a market cap of $7.51 billion, a P/E ratio of -22.31 and a beta of 1.64. The business’s fifty day moving average is $25.70 and its two-hundred day moving average is $18.08. AST SpaceMobile has a 52 week low of $1.97 and a 52 week high of $39.08.

AST SpaceMobile (NASDAQ:ASTS) last posted 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 business had revenue of $0.90 million during the quarter, compared to analyst estimates of $2.00 million.

Insider Transactions at AST SpaceMobile

In other AST SpaceMobile news, President Scott Wisniewski sold 2,700 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $23.12, for a total value of $62,424.00. Following the completion of the sale, the president now directly owns 712,660 shares of the company’s stock, valued at approximately $16,476,699.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other AST SpaceMobile news, President Scott Wisniewski sold 2,700 shares of the firm’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $23.12, for a total value of $62,424.00. Following the completion of the transaction, the president now directly owns 712,660 shares of the company’s stock, valued at $16,476,699.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Adriana Cisneros purchased 4,934 shares of the stock in a transaction on Friday, September 6th. The shares were purchased at an average price of $26.32 per share, for a total transaction of $129,862.88. Following the transaction, the director now directly owns 774,772 shares of the company’s stock, valued at approximately $20,391,999.04. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 127,700 shares of company stock valued at $3,220,524. Corporate insiders own 41.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Fairfield Financial Advisors LTD bought a new position in shares of AST SpaceMobile during the 3rd quarter valued at approximately $26,000. Hollencrest Capital Management purchased a new position in shares of AST SpaceMobile during the third quarter worth approximately $26,000. Rakuten Securities Inc. bought a new position in shares of AST SpaceMobile in the 3rd quarter worth $68,000. Black Maple Capital Management LP purchased a new position in AST SpaceMobile in the first quarter worth $87,000. Finally, KBC Group NV acquired a new stake in AST SpaceMobile in the 3rd quarter worth approximately $104,000. 60.95% of the stock is currently owned by 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.