On June 3, AST SpaceMobile fell 5.98% in regular trading, trading at $108.87/share, with trading volume of $398 million. The decline was driven by the combined impact of a Deutsche Bank rating downgrade and persistent concerns over Blue Origin's rocket explosion.
On the news front, Deutsche Bank analyst Bryan Kraft downgraded AST SpaceMobile from Buy to Hold, cutting the target price from $117 to $106. The analyst noted that if the company loses Blue Origin's support, it will be unable to meet its planned launch targets. Meanwhile, Blue Origin's New Glenn rocket previously suffered a major explosion during a static fire test at Kennedy Space Center in Florida, with the blast reportedly heard 15 miles away. Since Blue Origin is contracted to launch AST SpaceMobile's communication satellites, the market remains deeply concerned that the company's satellite deployment timeline could be significantly delayed.
AST SpaceMobile is an innovative satellite designer and manufacturer building the first space-based cellular broadband network accessible directly by standard smartphones, covering 2G/3G/4G LTE/5G and IoT devices.
(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.)
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