Q2 2024 EPS Estimates for AST SpaceMobile, Inc. Lowered by Analyst (NASDAQ:ASTS)

AST SpaceMobile, Inc. (NASDAQ:ASTS) – Equities researchers at B. Riley lowered their Q2 2024 earnings per share (EPS) estimates for shares of AST SpaceMobile in a research report issued on Thursday, May 16th. B. Riley analyst M. Crawford now anticipates that the company will earn ($0.19) per share for the quarter, down from their prior forecast of ($0.15). The consensus estimate for AST SpaceMobile’s current full-year earnings is ($0.69) per share. B. Riley also issued estimates for AST SpaceMobile’s Q3 2024 earnings at ($0.19) EPS, Q4 2024 earnings at ($0.19) EPS, FY2024 earnings at ($0.72) EPS and FY2025 earnings at ($0.27) EPS.

AST SpaceMobile (NASDAQ:ASTS) last issued its quarterly earnings data on Monday, April 1st. The company reported ($0.35) earnings per share (EPS) for the quarter.

A number of other research analysts have also weighed in on ASTS. UBS Group assumed coverage on AST SpaceMobile in a report on Friday, March 8th. They issued a “buy” rating and a $7.00 price objective on the stock. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of AST SpaceMobile from $23.00 to $19.00 and set a “buy” rating for the company in a research note on Wednesday, April 3rd. Finally, Scotiabank cut their price objective on shares of AST SpaceMobile from $7.50 to $7.40 and set a “sector outperform” rating on the stock in a research note on Tuesday, April 2nd.

AST SpaceMobile Stock Performance

ASTS opened at $4.54 on Monday. The company has a market cap of $1.16 billion, a P/E ratio of -4.63 and a beta of 0.93. The company has a quick ratio of 2.31, a current ratio of 7.51 and a debt-to-equity ratio of 0.56. The firm’s 50-day moving average price is $2.53 and its 200-day moving average price is $3.61. AST SpaceMobile has a 52-week low of $1.97 and a 52-week high of $7.10.

Hedge Funds Weigh In On AST SpaceMobile

A number of large investors have recently bought and sold shares of the business. Bank of New York Mellon Corp grew its position in shares of AST SpaceMobile by 37.3% in the third quarter. Bank of New York Mellon Corp now owns 258,898 shares of the company’s stock valued at $984,000 after purchasing an additional 70,276 shares during the period. Fox Run Management L.L.C. acquired a new stake in AST SpaceMobile in the 3rd quarter worth about $133,000. Quantbot Technologies LP purchased a new stake in AST SpaceMobile during the 3rd quarter worth approximately $83,000. State Board of Administration of Florida Retirement System raised its holdings in shares of AST SpaceMobile by 33.4% during the third quarter. State Board of Administration of Florida Retirement System now owns 22,940 shares of the company’s stock valued at $87,000 after acquiring an additional 5,740 shares during the last quarter. Finally, Dark Forest Capital Management LP lifted its position in shares of AST SpaceMobile by 110.5% in the third quarter. Dark Forest Capital Management LP now owns 240,245 shares of the company’s stock valued at $913,000 after acquiring an additional 126,102 shares in the last quarter. Institutional investors and hedge funds own 60.95% of the company’s stock.

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.