FY2028 EPS Estimates for AST SpaceMobile Reduced by Analyst

AST SpaceMobile, Inc. (NASDAQ:ASTS) – Analysts at Roth Capital cut their FY2028 earnings estimates for shares of AST SpaceMobile in a research report issued on Tuesday, November 11th. Roth Capital analyst S. Searle now anticipates that the company will post earnings per share of $0.48 for the year, down from their prior estimate of $0.61. Roth Capital has a “Buy” rating on the stock. The consensus estimate for AST SpaceMobile’s current full-year earnings is ($0.40) per share. Roth Capital also issued estimates for AST SpaceMobile’s FY2029 earnings at $1.62 EPS.

AST SpaceMobile (NASDAQ:ASTS) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.27). AST SpaceMobile had a negative net margin of 1,639.59% and a negative return on equity of 27.76%. The company had revenue of $14.74 million for the quarter, compared to analysts’ expectations of $22.04 million. During the same period in the previous year, the business earned ($1.10) earnings per share. The business’s revenue for the quarter was up 1236.4% on a year-over-year basis.

Several other equities research analysts have also recently issued reports on ASTS. UBS Group cut AST SpaceMobile from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $62.00 to $43.00 in a report on Tuesday, September 9th. Barclays downgraded AST SpaceMobile from an “overweight” rating to an “underweight” rating and set a $60.00 target price on the stock. in a research report on Friday, October 17th. William Blair initiated coverage on AST SpaceMobile in a research note on Thursday, August 21st. They issued a “market perform” rating for the company. Zacks Research lowered AST SpaceMobile from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 21st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AST SpaceMobile in a report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, AST SpaceMobile has a consensus rating of “Reduce” and a consensus price target of $45.27.

AST SpaceMobile Stock Down 5.0%

ASTS opened at $64.49 on Wednesday. AST SpaceMobile has a twelve month low of $17.50 and a twelve month high of $102.79. The company has a quick ratio of 8.23, a current ratio of 9.56 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average price of $64.04 and a 200 day moving average price of $48.97. The company has a market cap of $23.12 billion, a PE ratio of -52.01 and a beta of 2.46.

Insider Activity

In other AST SpaceMobile news, CFO Andrew Martin Johnson sold 20,000 shares of the stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $52.48, for a total transaction of $1,049,600.00. Following the sale, the chief financial officer directly owned 397,485 shares in the company, valued at $20,860,012.80. This represents a 4.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Huiwen Yao sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $40.58, for a total transaction of $1,623,200.00. Following the completion of the transaction, the chief technology officer directly owned 4,750 shares of the company’s stock, valued at $192,755. This represents a 89.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 30.90% of the stock is currently owned by corporate insiders.

Institutional Trading of AST SpaceMobile

Several hedge funds have recently modified their holdings of ASTS. Rakuten Group Inc. acquired a new stake in AST SpaceMobile during the 1st quarter worth $705,398,000. Jump Financial LLC purchased a new position in shares of AST SpaceMobile during the first quarter worth about $14,750,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of AST SpaceMobile in the 2nd quarter valued at about $21,754,000. State of New Jersey Common Pension Fund D lifted its holdings in shares of AST SpaceMobile by 14.0% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 77,159 shares of the company’s stock valued at $3,606,000 after purchasing an additional 9,448 shares during the last quarter. Finally, Wealthfront Advisers LLC boosted its position in shares of AST SpaceMobile by 20.5% in the 1st quarter. Wealthfront Advisers LLC now owns 39,737 shares of the company’s stock valued at $904,000 after purchasing an additional 6,753 shares during the period. 60.95% of the stock is currently owned by institutional investors and hedge funds.

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.