Q1 2024 EPS Estimates for AST SpaceMobile, Inc. (NASDAQ:ASTS) Lowered by Analyst

AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) - Investment analysts at B. Riley decreased their Q1 2024 earnings estimates for AST SpaceMobile in a report issued on Tuesday, April 2nd. B. Riley analyst M. Crawford now forecasts that the company will post earnings of ($0.16) per share for the quarter, down from their previous estimate of ($0.15). The consensus estimate for AST SpaceMobile's current full-year earnings is ($0.71) per share. B. Riley also issued estimates for AST SpaceMobile's Q2 2024 earnings at ($0.15) EPS, Q3 2024 earnings at ($0.15) EPS, Q4 2024 earnings at ($0.14) EPS, FY2024 earnings at ($0.59) EPS and FY2025 earnings at ($0.21) EPS.

Several other equities research analysts have also recently weighed in on ASTS. Deutsche Bank Aktiengesellschaft reduced their price target on shares of AST SpaceMobile from $23.00 to $19.00 and set a "buy" rating on the stock in a research report on Wednesday. UBS Group began coverage on shares of AST SpaceMobile in a research report on Friday, March 8th. They issued a "buy" rating and a $7.00 price target on the stock. Finally, Scotiabank reduced their price target on shares of AST SpaceMobile from $7.50 to $7.40 and set a "sector outperform" rating on the stock in a research report on Tuesday.

AST SpaceMobile Price Performance

ASTS traded down $0.04 during trading hours on Friday, hitting $2.21. The company's stock had a trading volume of 2,777,153 shares, compared to its average volume of 4,694,502. The business's 50-day moving average price is $2.98 and its 200-day moving average price is $3.83. AST SpaceMobile has a 12 month low of $1.97 and a 12 month high of $7.10. The stock has a market cap of $481.40 million, a price-to-earnings ratio of -2.10 and a beta of 0.87. The company has a current ratio of 6.06, a quick ratio of 6.06 and a debt-to-equity ratio of 0.20.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. UBS Group AG boosted its stake in shares of AST SpaceMobile by 45.3% during the first quarter. UBS Group AG now owns 4,222 shares of the company's stock valued at $42,000 after purchasing an additional 1,316 shares during the period. Royal Bank of Canada boosted its stake in shares of AST SpaceMobile by 357.3% during the third quarter. Royal Bank of Canada now owns 3,576 shares of the company's stock valued at $26,000 after purchasing an additional 2,794 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of AST SpaceMobile by 120.6% during the third quarter. Tower Research Capital LLC TRC now owns 7,128 shares of the company's stock valued at $27,000 after purchasing an additional 3,897 shares during the period. Stifel Financial Corp boosted its stake in shares of AST SpaceMobile by 1.9% during the third quarter. Stifel Financial Corp now owns 251,900 shares of the company's stock valued at $957,000 after purchasing an additional 4,744 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of AST SpaceMobile by 19.5% during the third quarter. The Manufacturers Life Insurance Company now owns 29,631 shares of the company's stock valued at $113,000 after purchasing an additional 4,844 shares during the period. 60.95% of the stock is owned by hedge funds and other institutional investors.

AST SpaceMobile Company Profile

AST SpaceMobile, Inc, together with its subsidiaries, operates space-based cellular broadband network for mobile phones in the United States. Its SpaceMobile service provides mobile broadband services to end-users who are out of terrestrial cellular coverage. AST SpaceMobile, Inc was founded in 2017 and is based in Midland, Texas.