AST SpaceMobile, Inc. (ASTS) closed the most recent trading day at $49.97, moving -6.11% from the previous trading session. Elsewhere, the Dow lost 0.25%, while the tech-heavy Nasdaq added 0.31%.
Coming into today, shares of the company had gained 114.25% in the past month. In that same time, the Computer and Technology sector gained 7.62%, while the S&P 500 gained 5.05%.
Market participants will be closely following the financial results of AST SpaceMobile, Inc. in its upcoming release. On that day, AST SpaceMobile, Inc. is projected to report earnings of -$0.19 per share, which would represent a year-over-year decline of 35.71%. Our most recent consensus estimate is calling for quarterly revenue of $5.15 million, up 472.22% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.99 per share and revenue of $62.5 million, indicating changes of -50% and +1314.58%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for AST SpaceMobile, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. AST SpaceMobile, Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Wireless Equipment industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 34, positioning it in the top 14% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ASTS in the coming trading sessions, be sure to utilize Zacks.com.
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AST SpaceMobile, Inc. (ASTS): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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