In the latest trading session, 2.17 million AST SpaceMobile Inc. (NASDAQ:ASTS) shares changed hands as the company’s beta touched 0.59. With the company’s most recent per share price at $4.05 changing hands around $0.24 or 6.30% at last look, the market valuation stands at $881.60M. ASTS’s current price is a discount, trading about -152.1% off its 52-week high of $10.21. The share price had its 52-week low at $3.55, which suggests the last value was 12.35% up since then. When we look at AST SpaceMobile Inc.’s average trading volume, we note the 10-day average is 1.58 million shares, with the 3-month average coming to 2.41 million.
Analysts gave the AST SpaceMobile Inc. (ASTS) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.00. If we narrow down to specifics, the data shows that 0 out of 2 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 0 recommended ASTS as a Hold, 1 felt it is a Buy and 0 rated the stock as Underweight. AST SpaceMobile Inc.’s EPS for the current quarter is expected to be -$0.21.
AST SpaceMobile Inc. (NASDAQ:ASTS) trade information
Instantly ASTS is in green as seen in intraday trades today. The jump to weekly highs of 4.32 on Monday, 09/18/23 added 6.30% to the stock’s daily price. The company’s shares are showing year-to-date downside of -15.98%. However, in the 30-day time frame, AST SpaceMobile Inc. (NASDAQ:ASTS) is 5.19% up. Looking at the short shares, we see there were 18.5 million shares sold at short interest cover period of 10.29 days.
The consensus price target for the stock as assigned by Wall Street analysts is $15.00, meaning bulls need an upside of 73.0% from its recent market value. According to analyst projections, ASTS’s forecast low is $15.00 with $15.00 as the target high. To hit the forecast high, the stock’s price needs a -270.37% plunge from its current level, while the stock would need to soar -270.37% for it to hit the projected low.
AST SpaceMobile Inc. (ASTS) estimates and forecasts
Data shows that the AST SpaceMobile Inc. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -32.95% over the past 6 months, a -50.00% in annual growth rate that is considerably lower than the industry average of -5.60%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for AST SpaceMobile Inc. will fall -250.00%, while the growth in revenue is estimated to hit -42.90% for the next quarter.
The company’s revenue for the corresponding quarters a year ago was $4.17 million.
The 2023 estimates are for AST SpaceMobile Inc. earnings to increase by 1.60%.
AST SpaceMobile Inc. is expected to release its next quarterly earnings report in October.
AST SpaceMobile Inc. (NASDAQ:ASTS)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 8.91% of AST SpaceMobile Inc. shares while 21.31% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 23.39%. There are 21.31% institutions holding the AST SpaceMobile Inc. stock share, with Blackrock Inc. the top institutional holder. As of Jun 29, 2023, the company held 4.48% of the shares, roughly 4.01 million ASTS shares worth $18.85 million.
Vanguard Group Inc holds the second largest percentage of outstanding shares, with 4.25% or 3.8 million shares worth $17.85 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Janus Henderson Triton Fund. With 2.48 million shares estimated at $11.67 million under it, the former controlled 2.78% of total outstanding shares. On the other hand, Janus Henderson Triton Fund held about 2.46% of the shares, roughly 2.2 million shares worth around $10.36 million.