AST SpaceMobile (NASDAQ:ASTS) Posts Earnings Results, Beats Estimates By $0.06 EPS

AST SpaceMobile (NASDAQ:ASTS) announced its earnings results on Monday. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.06, Zacks reports.

AST SpaceMobile Price Performance

Shares of ASTS stock traded down $1.49 on Monday, hitting $25.62. 14,969,407 shares of the stock traded hands, compared to its average volume of 11,930,029. The firm has a market cap of $7.42 billion, a price-to-earnings ratio of -12.08 and a beta of 1.62. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80. The firm has a 50 day simple moving average of $24.21 and a two-hundred day simple moving average of $25.53. AST SpaceMobile has a 52 week low of $1.97 and a 52 week high of $39.08.

Wall Street Analysts Forecast Growth

ASTS has been the topic of several analyst reports. Scotiabank dropped their price target on shares of AST SpaceMobile from $44.70 to $40.20 and set a “sector outperform” rating on the stock in a research note on Friday, January 24th. UBS Group lifted their target price on AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, Cantor Fitzgerald upgraded AST SpaceMobile to a “strong-buy” rating in a research report on Tuesday, February 25th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $40.04.

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.