FY2024 EPS Estimates for AST SpaceMobile Boosted by B. Riley

AST SpaceMobile, Inc. (NASDAQ:ASTS) – Stock analysts 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 expects that the company will post earnings per share of ($0.72) for the year, up from their prior forecast 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 ($0.88) 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 upped their price target on shares of AST SpaceMobile from $28.00 to $45.90 and gave the company a “sector outperform” rating in a research note on Monday, August 26th. UBS Group boosted their price objective on shares of AST SpaceMobile from $13.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on AST SpaceMobile from $22.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th.

AST SpaceMobile Stock Performance

ASTS opened at $26.80 on Thursday. 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 quick ratio of 6.38, a current ratio of 6.38 and a debt-to-equity ratio of 0.83. The firm’s 50-day moving average price is $25.67 and its 200-day moving average price is $18.14. AST SpaceMobile has a 52-week low of $1.97 and a 52-week high of $39.08.

AST SpaceMobile (NASDAQ:ASTS) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate 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.

Insiders Place Their Bets

In other news, President Scott Wisniewski sold 2,700 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $23.12, for a total value of $62,424.00. Following the sale, the president now owns 712,660 shares in the company, valued at $16,476,699.20. This represents a 0.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Huiwen Yao sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $24.26, for a total value of $1,091,700.00. Following the sale, the chief technology officer now directly owns 55,000 shares in the company, valued at approximately $1,334,300. This trade represents a 45.00 % 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 valued at $3,220,524. 41.80% of the stock is owned by insiders.

Institutional Investors Weigh In On AST SpaceMobile

Several hedge funds have recently bought and sold shares of ASTS. Verition Fund Management LLC purchased a new position in shares of AST SpaceMobile during the 3rd quarter valued at approximately $1,107,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in AST SpaceMobile during the third quarter valued at $4,819,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in AST SpaceMobile in the third quarter valued at $626,000. FORA Capital LLC acquired a new position in shares of AST SpaceMobile in the third quarter worth about $4,215,000. Finally, MetLife Investment Management LLC boosted its stake in shares of AST SpaceMobile by 12.4% during the 3rd quarter. MetLife Investment Management LLC now owns 76,302 shares of the company’s stock worth $1,995,000 after acquiring an additional 8,441 shares in the last quarter. Hedge funds and other 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.