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The most recent trading session ended with AST SpaceMobile, Inc. (ASTS) standing at $28.30, reflecting a +1.07% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily loss of 0.29%. On the other hand, the Dow registered a loss of 0.25%, and the technology-centric Nasdaq decreased by 0.31%.
Shares of the company witnessed a loss of 18.42% over the previous month, trailing the performance of the Computer and Technology sector with its loss of 1.17% and the S&P 500's gain of 1.57%.
The investment community will be paying close attention to the earnings performance of AST SpaceMobile, Inc. in its upcoming release. The company is forecasted to report an EPS of -$0.18, showcasing a 21.74% upward movement from the corresponding quarter of the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for AST SpaceMobile, Inc. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 3.78% downward. AST SpaceMobile, Inc. currently has a Zacks Rank of #3 (Hold).
The Wireless Equipment industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 203, finds itself in the bottom 20% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Zacks Investment Research
Technology and innovation are the backbone of the global economy and the U.S. stock market. While there are times when commodity stocks, old economy companies, and value-oriented stocks can outperform, history teaches us that the most robust gains come from disruptive companies within the technology sector. For example, Meta Platforms (META) unique social media platforms caught fire in the 2000s and led to breathtaking profits for investors. Though Alphabet (GOOGL) was not first in the search engine arena, the company mastered search and later video with its YouTube platform. Jeff Bezos proved that e-commerce could be scaled through Amazon (AMZN).
It would take years for me to list even a portion of America’s success stories. The good news for investors who missed these moves is that the wheels of America’s top tech innovators are constantly turning. As investors, our job is to identify megatrends, uncover the top innovators, and ride the trends as long as possible. Below are my top two megatrends to watch over the next decade:
Space Stocks
Technological advancements (such as rocket reusability), efficiency gains, and the evolution of public-private partnerships are rapidly transforming the space industry from pipedream to reality. Though getting to this level has been a long and frustrating road, the “final frontier” promises fruitful rewards for successful space companies. McKinsey estimates that “the global space economy will be worth $1.8 trillion by 2035, up from $630 billion in 2023.”
Space Industry: Satellites and Defense
While accessibility to space has increased dramatically, profitability is still mainly prevalent in two areas: satellites and defense.
· Satellites: Intuitive Machines (LUNR) rocketed more than 50% today after NASA awarded the company a deal valued up to $4.82 billion to provide satellites to NASA’s Artemis program. Meanwhile, AST SpaceMobile (ASTS), a company building a space-based cellular broadband network, is up nearly 500% year-to-date.
· Defense: U.S. defense spending jumped from $320 billion in 2000 to over $800 billion in 2024.The trend of higher defense spending is highly unlikely to subside, especially as the world’s superpowers jockey for dominance in space. As a result, defense contractors like Lockheed Martin (LMT) should continue to benefit.
AI Stocks
Artificial intelligence has been discussed by technologists for decades. However, like the space industry, until recently, the AI industry was a pipedream. However, monumental breakthroughs in the semiconductor industry, mainly from Nvidia (NVDA), have led to new possibilities and a burgeoning mega trend. Below are three AI areas to watch:
· Chatbots: OpenAI made headlines recently as news fundraising talks could value the ChatGPT operator at a mind-boggling $150 billion. Though OpenAI and its largest investor Microsoft (MSFT), have to make strides in profitability, investors should not ignore the area industry that brought industry that brought AI to the public conscience.
· Data Center & Utilities: Large, energy-sucking data centers are required to build AI models that run large language models (LLMs). Names like Vertiv (VRT), which is a leader in AI infrastructure, and utilities likeVistra (VST) are “picks and shovels” to the upcoming AI gold rush.
· Robotaxis and Robots: Autonomous driving has already proven safer than today’s distracted human drivers. Tesla (TSLA) and other autonomous vehicle makers will make the roads safer and generate revenue by cutting out the need for human drivers in ridesharing services like Uber (UBER). Meanwhile, Tesla’s visionary CEO Elon Musk promises to unveil the Tesla Bot” robot in the coming years (the robot is already completing tasks for Tesla). With labor costs increasing, robots could be a way for companies to cut costs.
Bottom Line
Technological advances are at the heart of the most significant stock market advances. As the wheels of innovation continue to turn, investors should focus their research on burgeoning megatrends in AI and space over the next decade.
Zacks Investment Research
AST SpaceMobile, Inc. shares are moving lower on heavy volume Thursday. The company announced the successful launch of its first five commercial satellites today.
The Details:
AST SpaceMobile launched the Bluebird satellites at 4:52 a.m. ET from Cape Canaveral, Florida. The large arrays of antennas are designed to reach standard smartphones directly at cellular broadband speeds for voice, data and video and other non-communications government applications.
After launch, the BlueBird satellites are planned to offer non-continuous cellular broadband service across the United States and in select markets globally. The Bluebirds will target approximately 100% nationwide coverage from space with over 5,600 coverage cells in the United States.
“This is an exciting next step to a future where our customers will only be hard to reach if they choose to be – giving them the power to go anywhere and the possibility to do anything while staying connected with just an everyday cell phone,” said Jeff McElfresh, COO of AT&T.
Last week, AST SpaceMobile stock fell after the company filed a prospectus for the offer and sale of up to $400 million Class A common stock. According to data from Benzinga Pro, AST SpaceMobile shares are up more than 25% over the past month and trading above the stock’s 50-day moving average of $21.65.
How To Buy ASTS Stock:
By now you're likely curious about how to participate in the market for AST SpaceMobile – be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, or Amazon.com, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so.
In the the case of AST SpaceMobile, which is trading at $25.17 as of publishing time, $100 would buy you 3.97 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.
ASTS Price Action: According to Benzinga Pro, AST SpaceMobile shares are down 9.25% at $25.33 at the time of publication Thursday.
Read Also:
Image: Courtesy of AST SpaceMobile, Inc.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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