AST SpaceMobile (NASDAQ:ASTS) Posts Quarterly Earnings Results, Misses Estimates By $0.08 EPS

AST SpaceMobile (NASDAQ:ASTS) announced its quarterly earnings data on Monday. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.08), FiscalAI reports. AST SpaceMobile had a negative return on equity of 27.76% and a negative net margin of 1,639.59%.The company had revenue of $54.31 million for the quarter, compared to analyst estimates of $39.53 million.

AST SpaceMobile Trading Up 9.8%

NASDAQ ASTS traded up $7.73 during mid-day trading on Monday, reaching $86.92. 12,361,032 shares of the stock were exchanged, compared to its average volume of 15,763,290. AST SpaceMobile has a 1-year low of $18.22 and a 1-year high of $129.89. The stock has a market capitalization of $31.90 billion, a PE ratio of -70.10 and a beta of 2.78. The business’s fifty day simple moving average is $93.69 and its 200 day simple moving average is $72.70. The company has a debt-to-equity ratio of 0.43, a quick ratio of 9.48 and a current ratio of 9.56.

Insider Buying and Selling

In other AST SpaceMobile news, CTO Huiwen Yao sold 40,000 shares of AST SpaceMobile stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $73.52, for a total transaction of $2,940,800.00. Following the transaction, the chief technology officer directly owned 4,750 shares of the company’s stock, valued at $349,220. The trade was a 89.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Shanti B. Gupta sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $77.34, for a total value of $773,400.00. Following the completion of the transaction, the chief operating officer directly owned 382,375 shares in the company, valued at $29,572,882.50. This trade represents a 2.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have bought 2,015 shares of company stock worth $149,144 and have sold 2,344,621 shares worth $163,788,075. Corporate insiders own 30.90% of the company’s stock.

Institutional Trading of AST SpaceMobile

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Acumen Wealth Advisors LLC bought a new position in AST SpaceMobile in the 4th quarter worth approximately $29,000. Harvest Fund Management Co. Ltd bought a new position in shares of AST SpaceMobile in the third quarter worth $29,000. Binnacle Investments Inc acquired a new position in shares of AST SpaceMobile during the second quarter valued at $33,000. BOKF NA bought a new stake in shares of AST SpaceMobile during the third quarter valued at about $38,000. Finally, Chapman Financial Group LLC acquired a new stake in AST SpaceMobile in the second quarter worth about $38,000. Institutional investors own 60.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ASTS shares. B. Riley Financial cut their price objective on shares of AST SpaceMobile from $105.00 to $95.00 and set a “neutral” rating on the stock in a report on Friday, February 13th. Zacks Research cut shares of AST SpaceMobile from a “hold” rating to a “strong sell” rating in a research report on Friday, January 9th. Weiss Ratings restated a “sell (d-)” rating on shares of AST SpaceMobile in a research note on Monday, December 29th. Scotiabank downgraded AST SpaceMobile from a “sector perform” rating to a “sector underperform” rating and set a $45.60 target price for the company. in a report on Wednesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of AST SpaceMobile in a research report on Tuesday, January 20th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and an average price target of $52.94.

AST SpaceMobile Company Profile

AST SpaceMobile is a U.S.-based aerospace company developing a space-based cellular broadband network designed to connect standard mobile phones and other devices directly to satellites. The company’s core proposition is “space-to-cell” service: operating a constellation of low-Earth-orbit (LEO) satellites equipped with large, high-power phased-array antennas to provide wide-area mobile broadband without requiring users to buy specialized terminals or handset modifications.

AST SpaceMobile designs, builds and operates satellite payloads and supporting ground infrastructure.