AST SpaceMobile, Inc. (ASTS) Gains on Market Downturn: What You Need to Know

The latest trading session ended at $28.30 for AST SpaceMobile, Inc. (ASTS), reflecting a change of +1.07% from the previous trading day’s close. The stock’s performance outpaced the S&P 500’s daily loss of 0.29%. On the other hand, the Dow posted a loss of 0.25%, and the tech-focused Nasdaq fell 0.31%.

The company’s shares were down 18.42% from the previous month, lagging the Computer and Technology sector’s loss of 1.17% and the S&P 500’s gain of 1.57%.

The investment community will be closely watching AST SpaceMobile, Inc.’s upcoming earnings release. The company is projected to report EPS of -$0.18, which would represent an increase of 21.74% from the prior-year quarter.

It is also important for investors to be aware of any recent changes to analyst estimates for AST SpaceMobile, Inc. These revisions help show the ever-changing nature of near-term business trends. As such, upward estimate revisions express analysts’ positive sentiment about the company’s business and its ability to generate profits.

Our research shows that these estimate revisions are directly related to upcoming stock price performance, and to leverage this, we have created the Zacks Rank, an exclusive model that takes these estimate changes into account and provides an operational rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive, outside-audited track record of outperforming expectations, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks consensus EPS estimate has moved 3.78% lower. AST SpaceMobile, Inc. currently has a Zacks Rank of #3 (Hold).

The Wireless Devices industry is a component of the Computer and Technology sector. This industry, currently ranked 203 by the Zacks Industry Rank, is in the bottom 20% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our distinct industry groups by determining the average Zacks Rank of the individual stocks that make up the groups. 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 use Zacks.com.

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