In the latest trading session, AST SpaceMobile, Inc. (ASTS) closed at $49.36, marking a -2.49% move from the previous day. This change lagged the S&P 500's daily gain of 0.52%. Meanwhile, the Dow gained 1%, and the Nasdaq, a tech-heavy index, added 0.52%.
Shares of the company have appreciated by 114.76% over the course of the past month, outperforming the Computer and Technology sector's gain of 9.55%, and the S&P 500's gain of 5.95%.
The upcoming earnings release of AST SpaceMobile, Inc. will be of great interest to investors. 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%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.15 million, up 472.22% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$1 per share and a revenue of $62.5 million, indicating changes of -51.52% and +1314.58%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for AST SpaceMobile, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.01% lower. As of now, AST SpaceMobile, Inc. holds a Zacks Rank of #3 (Hold).
The Wireless Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 32, which puts it in the top 14% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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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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