FY2023 EPS Estimates for AST SpaceMobile, Inc. (NASDAQ:ASTS) Cut by Analyst

AST SpaceMobile, Inc. (NASDAQ:ASTS) – B. Riley reduced their FY2023 earnings per share estimates for AST SpaceMobile in a research note issued on Wednesday, November 15th. B. Riley analyst M. Crawford now expects that the company will post earnings per share of ($0.91) for the year, down from their prior forecast of ($0.87). The consensus estimate for AST SpaceMobile’s current full-year earnings is ($0.87) per share. B. Riley also issued estimates for AST SpaceMobile’s Q4 2023 earnings at ($0.21) EPS, Q1 2024 earnings at ($0.19) EPS, Q2 2024 earnings at ($0.19) EPS, Q3 2024 earnings at ($0.18) EPS, Q4 2024 earnings at ($0.16) EPS, FY2024 earnings at ($0.71) EPS and FY2025 earnings at ($0.17) EPS.

AST SpaceMobile (NASDAQ:ASTS) last posted its earnings results on Tuesday, August 15th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.05).

AST SpaceMobile Price Performance

ASTS opened at $4.57 on Friday. AST SpaceMobile has a 12-month low of $2.73 and a 12-month high of $7.14. The company has a market cap of $994.80 million, a price-to-earnings ratio of -5.44 and a beta of 0.61. The company has a current ratio of 6.06, a quick ratio of 7.22 and a debt-to-equity ratio of 0.20. The stock has a fifty day simple moving average of $3.66 and a two-hundred day simple moving average of $4.38.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Royal Bank of Canada lifted its holdings 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 last quarter. Bartlett & Co. LLC bought a new stake in AST SpaceMobile in the second quarter worth $27,000. Tower Research Capital LLC TRC boosted its holdings in AST SpaceMobile by 120.6% in the third quarter. Tower Research Capital LLC TRC now owns 7,128 shares of the company’s stock worth $27,000 after acquiring an additional 3,897 shares in the last quarter. Banque Cantonale Vaudoise purchased a new stake in shares of AST SpaceMobile in the second quarter worth $34,000. Finally, UBS Group AG increased its holdings 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 acquiring an additional 1,316 shares in the last quarter. 54.53% of the stock is currently owned by institutional investors.

About AST SpaceMobile

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.