With 5.35 million shares changed hands, the volume of the stock remained heavier than its average volume of 2.35 million shares. During the session, the Communication Equipment company that operates in wider Technology sector, reached to the highest price of $3.9800 whereas the lowest price it dropped to was $3.7600. The 52-week range on ASTS shows that it touched its highest point at $10.32 and its lowest point at $3.55 during that stretch. It currently has a 1-year price target of $20.67. Beta for the stock currently stands at 0.59.
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Price Performance and Earnings:
Three-month performance dropped to -33.33% while six-month performance fell -38.95%. The stock lost -62.13% in the past year, while it has lost -20.33% so far this year. A look at the trailing 12-month EPS for ASTS yields -0.79 with Next year EPS estimates of -0.88. For the next quarter, that number is -0.21. This implies an EPS growth rate of 1.60% for this year and -12.80% for next year.
Float and Shares Shorts:
At present, 217.68 million ASTS shares are outstanding with a float of 81.35 million shares on hand for trading. On Aug 30, 2023, short shares totaled 18.5 million, which was 20.68% higher than short shares on Jul 30, 2023. In addition to Mr. Abel Avellan as the firm’s Founder, Chairman, Pres & CEO, Mr. Sean Robert Wallace serves as its Exec. VP & CFO.
Institutional Ownership:
Through their ownership of 21.31% of ASTS’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 28.76% of ASTS, in contrast to 22.56% held by mutual funds. Shares owned by individuals account for 14.72%. As the largest shareholder in ASTS with 4.13% of the stake, BlackRock Fund Advisors holds 3,692,154 shares worth 3,692,154. A second-largest stockholder of ASTS, The Vanguard Group, Inc., holds 3,676,017 shares, controlling over 4.11% of the firm’s shares. Janus Henderson Investors US LLC is the third largest shareholder in ASTS, holding 2,406,367 shares or 2.69% stake. With a 2.78% stake in ASTS, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 2,482,967 shares are owned by the mutual fund manager. The Janus Henderson Triton Fund, which owns about 2.46% of ASTS stock, is the second-largest Mutual Fund holder. It holds 2,204,000 shares valued at 8.64 million. Hennessy Focus Fund holds 2.23% of the stake in ASTS, owning 1,997,902 shares worth 7.83 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, ASTS reported revenue of $7.26M and operating income of -$30.34M. The EBITDA in the recently reported quarter was -$52.21M and diluted EPS was -$0.06.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ASTS since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With ASTS analysts setting a high price target of $15.00 and a low target of $15.00, the average target price over the next 12 months is $15.00. Based on these targets, ASTS could surge 290.62% to reach the target high and rise by 290.62% to reach the target low. Reaching the average price target will result in a growth of 290.62% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded ASTS stock several times over the past three months with 4 Buys and 0 Sells. In these transactions, 153,848 shares were bought while 0 shares were sold. The number of buy transactions has increased to 8 while that of sell transactions has risen to 2 over the past year. The total number of shares bought during that period was 241,121 while 220,678 shares were sold.
