AST SpaceMobile Inc [NASDAQ: ASTS] plunged by -$0.17 during the normal trading session on while it closed the day at $2.14. The company report on April 1, 2024 at 4:30 PM that AST SpaceMobile Provides Business Update and Fourth Quarter and Full Year 2023 Results.
AST SpaceMobile, Inc. (“AST SpaceMobile”) (NASDAQ: ASTS), the company building the first and only space-based cellular broadband network accessible directly by everyday smartphones, and designed for both commercial and government applications, is providing its business update for the three months and fiscal year ended December 31, 2023.
“It has been a busy and exciting start to 2024 for AST SpaceMobile, with new partners joining our mission, manufacturing ramping, and commercialization approaching,” said Abel Avellan, Chairman and CEO of AST SpaceMobile. “With a clear vision and a strong foundation, AST SpaceMobile is well-positioned to lead the charge in bridging the digital divide.”.
AST SpaceMobile Inc stock has also loss -7.76% of its value over the past 7 days. However, ASTS stock has declined by -56.24% in the 3 months of the year. Over the past six months meanwhile, it has lost -34.56% and lost -64.51% year-on date.
The market cap for ASTS stock reached $262.79 million, with 122.80 million shares outstanding and 100.73 million shares in the current float. Compared to the average trading volume of 4.81M shares, ASTS reached a trading volume of 3466454 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about 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 $12.68 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 1.00. 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.
UBS have made an estimate for AST SpaceMobile Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 08, 2024. While these analysts kept the previous recommendation, Scotiabank raised their target price to Sector Outperform. The new note on the price target was released on March 06, 2024, representing the official price target for AST SpaceMobile Inc stock. Previously, the target price had yet another raise to $15, while B. Riley Securities analysts kept a Buy rating on ASTS stock.
The Average True Range (ATR) for AST SpaceMobile Inc is set at 0.21 The Price to Book ratio for the last quarter was 1.95, with the Price to Cash per share for the same quarter was set at 0.72.
ASTS stock trade performance evaluation
AST SpaceMobile Inc [ASTS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.76. With this latest performance, ASTS shares dropped by -29.84% in over the last four-week period, additionally sinking by -34.56% over the last 6 months – not to mention a drop of -52.23% 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 34.51, with the RSI for the last a single of trading hit 32.43, and the three-weeks RSI is set at 36.48 for AST SpaceMobile Inc [ASTS]. The present Moving Average for the last 50 days of trading for this stock 2.93, while it was recorded at 2.23 for the last single week of trading, and 3.89 for the last 200 days.
AST SpaceMobile Inc [ASTS]: An insightful look at the core fundamentals
AST SpaceMobile Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.31 and a Current Ratio set at 2.31.
Earnings per share (EPS) analysis for AST SpaceMobile Inc [ASTS] stock
With the latest financial reports released by the company, AST SpaceMobile Inc posted -0.23/share EPS, while the average EPS was predicted by analysts to be reported at -0.49/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 53.10%. 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]: Institutional Ownership
The top three institutional holders of ASTS stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in ASTS stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in ASTS stock with ownership which is approximately 5.8386%.
