AST SpaceMobile Inc [NASDAQ: ASTS] stock went on a downward path that fall over -4.84% on Thursday, amounting to a one-week price decrease of less than -6.94%. The company report on February 21, 2024 at 6:30 PM that AST SpaceMobile’s Abel Avellan Appointed Commissioner to the ITU/UNESCO Broadband Commission.
AST SpaceMobile, Inc. (“AST SpaceMobile”) (NASDAQ: ASTS), the company building the first and only space-based cellular broadband network accessible directly by everyday smartphones, today announced the appointment of its Founder, Chairman, and CEO, Abel Avellan, as a Commissioner to the ITU/UNESCO Broadband Commission for Sustainable Development. AST SpaceMobile believes this appointment underscores the natural alignment between the company’s mission to connect the unconnected by bringing broadband to the billions worldwide and the Broadband Commission’s efforts to promote universal connectivity as a cornerstone of a sustainable and inclusive future.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
The synergy between AST SpaceMobile’s mission and the ITU/UNESCO Broadband Commission’s goal to ensure universal connectivity highlights the essential role of digital inclusion in achieving a sustainable and inclusive future. The Company believes Mr. Avellan’s selection as a Commissioner showcases the potential role that space-based cellular broadband could play in realizing the Commission’s vision to achieve global broadband access by the year 2030.
Over the last 12 months, ASTS stock dropped by -56.62%. The one-year AST SpaceMobile Inc stock forecast points to a potential upside of 80.49. The average equity rating for ASTS stock is currently 1.25, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $362.26 million, with 122.80 million shares outstanding and 112.05 million shares in the current float. Compared to the average trading volume of 3.98M shares, ASTS stock reached a trading volume of 3194704 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on AST SpaceMobile Inc [ASTS]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ASTS shares is $15.12 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ASTS stock is a recommendation set at 1.25. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Scotiabank have made an estimate for AST SpaceMobile Inc shares, keeping their opinion on the stock as Sector Outperform, with their previous recommendation back on March 06, 2024. While these analysts kept the previous recommendation, B. Riley Securities raised their target price to Buy. The new note on the price target was released on October 28, 2022, representing the official price target for AST SpaceMobile Inc stock. Previously, the target price had yet another raise to $29, while Barclays analysts kept a Overweight rating on ASTS stock.
The Average True Range (ATR) for AST SpaceMobile Inc is set at 0.23 The Price to Book ratio for the last quarter was 2.07, with the Price to Cash per share for the same quarter was set at 1.11.
ASTS Stock Performance Analysis:
AST SpaceMobile Inc [ASTS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.94. With this latest performance, ASTS shares gained by 2.43% in over the last four-week period, additionally sinking by -24.36% over the last 6 months – not to mention a drop of -56.62% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ASTS stock in for the last two-week period is set at 41.52, with the RSI for the last a single of trading hit 39.96, and the three-weeks RSI is set at 42.09 for AST SpaceMobile Inc [ASTS]. The present Moving Average for the last 50 days of trading for this stock 3.71, while it was recorded at 3.08 for the last single week of trading, and 4.24 for the last 200 days.
Insight into AST SpaceMobile Inc Fundamentals:
AST SpaceMobile Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.06 and a Current Ratio set at 6.06.
ASTS Stock EPS
With the latest financial reports released by the company, AST SpaceMobile Inc posted -0.14/share EPS, while the average EPS was predicted by analysts to be reported at -0.19/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 26.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ASTS.
AST SpaceMobile Inc [ASTS] Institutonal Ownership Details
The top three institutional holders of ASTS stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in ASTS stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in ASTS stock with ownership which is approximately 5.8325%.
