B. Riley Weighs in on AST SpaceMobile, Inc.’s Q2 2024 Earnings (NASDAQ:ASTS)

AST SpaceMobile, Inc. (NASDAQ:ASTS) – B. Riley decreased their Q2 2024 earnings per share estimates for AST SpaceMobile in a report released on Thursday, May 16th. B. Riley analyst M. Crawford now anticipates that the company will post earnings per share of ($0.19) for the quarter, down from their prior estimate 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.

A number of other equities research analysts have also issued reports on ASTS. Scotiabank lowered their target price on AST SpaceMobile from $7.50 to $7.40 and set a “sector outperform” rating for the company in a research note on Tuesday, April 2nd. Deutsche Bank Aktiengesellschaft lowered their price objective on 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, UBS Group initiated coverage on AST SpaceMobile in a research note on Friday, March 8th. They set a “buy” rating and a $7.00 price objective for the company.

AST SpaceMobile Price Performance

ASTS stock opened at $5.28 on Monday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 7.51 and a current ratio of 7.51. AST SpaceMobile has a 1 year low of $1.97 and a 1 year high of $7.10. The firm has a market cap of $1.35 billion, a P/E ratio of -5.39 and a beta of 0.93. The stock has a 50-day simple moving average of $2.58 and a 200-day simple moving average of $3.62.

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

Institutional Investors Weigh In On AST SpaceMobile

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