AST SpaceMobile, Inc. (NASDAQ:ASTS – Free Report) – Equities researchers at B. Riley lifted their Q3 2024 EPS estimates for AST SpaceMobile in a note issued to investors on Thursday, August 29th. B. Riley analyst M. Crawford now expects that the company will post earnings per share of ($0.18) for the quarter, up from their previous forecast of ($0.20). B. Riley has a “Buy” rating and a $36.00 price objective on the stock. The consensus estimate for AST SpaceMobile’s current full-year earnings is ($0.78) per share. B. Riley also issued estimates for AST SpaceMobile’s Q4 2024 earnings at ($0.18) EPS, FY2024 earnings at ($0.78) EPS and FY2025 earnings at ($0.24) EPS.
A number of other equities analysts also recently commented on ASTS. UBS Group lifted their price objective on AST SpaceMobile from $13.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Scotiabank increased 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.
AST SpaceMobile Trading Up 1.3 %
Shares of ASTS opened at $29.41 on Monday. The firm’s fifty day moving average is $20.01 and its two-hundred day moving average is $9.88. The stock has a market cap of $7.57 billion, a PE ratio of -30.01 and a beta of 1.61. The company has a quick ratio of 6.38, a current ratio of 6.38 and a debt-to-equity ratio of 0.83. AST SpaceMobile has a 52-week low of $1.97 and a 52-week high of $39.08.
Hedge Funds Weigh In On AST SpaceMobile
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. grew its holdings in AST SpaceMobile by 5.5% in the second quarter. Victory Capital Management Inc. now owns 15,542 shares of the company’s stock valued at $180,000 after purchasing an additional 814 shares during the last quarter. Accordant Advisory Group Inc lifted its holdings in AST SpaceMobile by 2.0% in the 2nd quarter. Accordant Advisory Group Inc now owns 162,823 shares of the company’s stock valued at $1,890,000 after purchasing an additional 3,146 shares in the last quarter. MBE Wealth Management LLC grew its holdings in shares of AST SpaceMobile by 34.1% during the second quarter. MBE Wealth Management LLC now owns 27,000 shares of the company’s stock worth $313,000 after buying an additional 6,870 shares in the last quarter. Cantor Fitzgerald L. P. purchased a new position in shares of AST SpaceMobile during the fourth quarter valued at approximately $66,000. Finally, Calton & Associates Inc. acquired a new position in AST SpaceMobile in the 2nd quarter valued at $128,000. Hedge funds and other institutional investors 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.
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