Ast Spacemobile Inc Up 26.62% To $4.77 After Earnings Miss

Ast Spacemobile Inc (ASTS) said after close Tuesday that it lost $0.23 per share in quarter three 2023. The company reported $0.00 in revenue

In the same quarter a year ago, the company lost $0.18 per share on revenue of $4.2 million.

The stock is up 26.62% to $4.77 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Ast Spacemobile Inc has performed a little below average during the past few months. Before the report, Ast Spacemobile Inc received a Long-Term Technical Rank by InvestorsObserver of 25, putting it in the bottom half of stocks. The firm was recently trading at a 52-week low of $2.73 on October 23, 2023 and set a 52-week high on November 15, 2022 at $8.2.

AST SpaceMobile Inc is a satellite designer and manufacturer. The company is building the global cellular broadband network in space to operate directly with standard, unmodified mobile devices based on extensive IP and patent portfolio. AST is on a mission to eliminate the connectivity gaps faced by mobile subscribers and finally bring broadband to the billions who remain unconnected.