Movement Alert|AST SpaceMobile, Inc. Rises 5.08% in Regular Trading, BlueBird Satellite Launch Coupled with 365% Revenue Growth Forecast

Market Focus
Aug 06

On August 6, AST SpaceMobile, Inc. rose 5.08% in regular trading, trading at $72.2/share, with turnover of $198 million.

On the news front, the company announced on August 5 the successful orbital launch of BlueBird satellites 11, 12, and 13, further expanding its space-based cellular broadband network for commercial and government applications. Additionally, BlueBirds 14 through 16 are preparing for the next mission, with production advancing through BlueBird satellite 42.

Meanwhile, the company is set to report earnings on August 10, with the market expecting quarterly revenue growth of 365.33% to $34.98 million, driven by the ramp-up of its first commercial direct-to-phone satellite services. Institutional sentiment remains bullish, with Piper Sandler initiating coverage at Overweight with a $100 target, B. Riley upgrading to Buy with an $85 target, and Scotiabank upgrading to Sector Perform with a $50.80 target.

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