AST SpaceMobile, Inc. to Post Q2 2023 Earnings of ($0.19) Per Share, B. Riley Forecasts (NASDAQ:ASTS)

AST SpaceMobile, Inc. (NASDAQ:ASTS – Get Rating) – Research analysts at B. Riley cut their Q2 2023 earnings estimates for shares of AST SpaceMobile in a note issued to investors on Tuesday, May 16th. B. Riley analyst M. Crawford now anticipates that the company will earn ($0.19) per share for the quarter, down from their prior estimate of ($0.16). The consensus estimate for AST SpaceMobile’s current full-year earnings is ($0.60) per share. B. Riley also issued estimates for AST SpaceMobile’s Q3 2023 earnings at ($0.21) EPS, Q4 2023 earnings at ($0.21) EPS, FY2023 earnings at ($0.84) EPS, Q1 2024 earnings at ($0.23) EPS, Q2 2024 earnings at ($0.21) EPS, Q3 2024 earnings at ($0.20) EPS, Q4 2024 earnings at ($0.19) EPS, FY2024 earnings at ($0.83) EPS and FY2025 earnings at ($0.24) EPS.

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AST SpaceMobile (NASDAQ:ASTS – Get Rating) last announced its quarterly earnings data on Friday, March 31st. The company reported ($0.14) earnings per share for the quarter. AST SpaceMobile had a negative net margin of 132.30% and a negative return on equity of 11.60%.

AST SpaceMobile Price Performance

Shares of NASDAQ ASTS opened at $5.26 on Thursday. The firm has a 50-day moving average of $5.11 and a two-hundred day moving average of $5.46. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of -8.62 and a beta of 0.67. The company has a current ratio of 6.39, a quick ratio of 9.65 and a debt-to-equity ratio of 0.01. AST SpaceMobile has a twelve month low of $3.55 and a twelve month high of $14.27.

Institutional Trading of AST SpaceMobile

Large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its position in shares of AST SpaceMobile by 357.3% during the 3rd quarter. Royal Bank of Canada now owns 3,576 shares of the company’s stock valued at $26,000 after acquiring an additional 2,794 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in AST SpaceMobile by 1,831.1% in the 1st quarter. Tower Research Capital LLC TRC now owns 5,890 shares of the company’s stock worth $30,000 after purchasing an additional 5,585 shares in the last quarter. UBS Group AG raised its holdings in AST SpaceMobile by 45.3% during the 1st quarter. UBS Group AG now owns 4,222 shares of the company’s stock worth $42,000 after buying an additional 1,316 shares during the period. Northwest Wealth Management LLC purchased a new stake in AST SpaceMobile during the fourth quarter valued at about $51,000. Finally, Squarepoint Ops LLC acquired a new position in shares of AST SpaceMobile in the fourth quarter worth about $57,000. 6.13% of the stock is currently owned by institutional investors.

About AST SpaceMobile

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AST SpaceMobile, Inc operates space-based cellular broadband network for mobile phones. Its SpaceMobile service provides mobile broadband services for users traveling in and out of areas without terrestrial mobile services on land, at sea, or in flight. The company is headquartered in Midland, Texas.

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