On October 6, AST SpaceMobile rose 6.24% in regular trading, trading at $62.0 per share, with turnover of $78.96 million.

The rally came after Telus' wireless network and AST SpaceMobile's space-based system completed their first satellite-to-smartphone integration test. The integration is expected to improve broadband data services, voice calls, and text messaging directly between smartphones and satellites, supporting connectivity for remote parts of Canada. The companies confirmed the milestone earlier this week.

Separately, B. Riley recently downgraded AST SpaceMobile to Neutral from Buy and cut its price target to $65 from $85, citing concerns about pricing power and ARPU erosion from competing multi-tenant satellite networks. The stock is also part of the Alternative Carriers sector, where SpaceX rose 1.77%, Bandwidth Inc. gained 3.82%, and Lumen Technologies added 0.89%.

AST SpaceMobile, Inc., together with its subsidiaries, operates a space-based cellular broadband network for mobile phones in the United States. Its SpaceMobile service provides mobile broadband services to end-users who are out of terrestrial cellular coverage. AST SpaceMobile, Inc. was founded in 2017 and is based in Midland, Texas.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)